So, if you are buying a flat anywhere in Ahmedabad even in the prime areas the prices are down. you can get really good deals depending upon the project and how desperate the builder is in selling his or her property. However, people who own plots in the
heart of Ahmedabad especially in the prime areas of Ahmedabad can relax for they are still sitting on a gold mine. Since the FSI went up in Ahmedabad the property prices have doubled or even tripled in certain areas. From that peak even if one says the
property prices have come down about 20 percent it is still a very high figure for land prices.

In the prime areas of Ellisbridge, Navrangpura and either on or near CG road the land prices had crossed 2 lakh rupees per square yard at their peak and were more like 210,000 to 220,000 rupees per square yard at the peak time of about early 2013 till
mid 2013. This was when the new FSI numbers were announced which gave a blanket 50% increase to builders all over Ahmedabad and in certain areas even double or upto triple the FSI from what existed till the end of 2012 or Jan 2013. The moment these new
FSI figures were announced land rates shot up dramatically to the figures I have mentioned above.

Today even if you take 20 percent off those figures from 2 to 2 and a half years ago you still get rates of 160,000 to 1,80,000 per square yard in the above prime locations.

However, because the FSI has gone up the flat rates have come down. So, although land rates shot up dramatically, flat rates did not go up even during the peak and now when the market rate is in a slump the land rates have not come down that much but
flat rates are down and even in the down rates there are few buyers.

The time to buy is now and if you are a developer/builder you are still getting a steal paying 1,60,000 to 1,80,000 rupees per square yard (depending upon the area and how prime it is in the above mentioned areas). Your project will take 2 years to maybe
3 years to complete and by then the market may have bounced back. You will get the than rate and would have bought the land at lower prices. Buying below 1,60,000 rupees per square yard is not possible since no one is selling and although you might get a
small plot of 500 to 550 square yards (or about 5000 square feet) you will not get the bigger size plots below 1,60,000 rupees per square yard and should be prepared to pay even 1,70,000 to as much as 1,80,000 rupees per square yard for these bigger
plots especially if they are 2,000 square yards or bigger (that is at least 20,000 square feet or bigger in size). For them you should be prepared to pay at least 1,70,000 rupees to maybe even 1,80,000 rupees per square yard in the prime areas I have
mentioned for Ahmedabad.

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