7 residential housing schemes launched in Ahmedabad

Neither is the real estate market booming nor was there any auspicious occasion, yet seven residential schemes were launched in the city on Sunday.

With the launch of the residential schemes, around 700 residential units have been added in the market. Majority of the schemes are located in the eastern part of the city and fall in the category of affordable housing.

The launched schemes are located in Nikol, Naroda, Narol and Chandkheda area. Majority of the developers are offering one and two bedroom-hall-kitchen (BHK) flats.

However, a couple of developers also launched three BHK schemes. The flats offered by the developers are priced between Rs12.11 lakh and Rs20 lakh for one and two BHK flats.

Market experts were surprised to witness the launch of these many schemes without any auspicious occasion or current in the property market. Most of the builders, who launched their schemes on Sunday, are not well known in the market.

"There is no under current in the market which could have motivated the developers to launch their schemes," said sources in the market.

Although the real estate market in the city has lost momentum, there is still some demand in the eastern part, especially in one and two BHK segment.

"Hardly any scheme of one BHK is launched in the western part of the city, so this segment needs to move to the eastern sector," said sources.

Sharif Khan, partner of Nawab Builders, said that his scheme
has been launched in the minority dominated area and they need not wait for any occasion for launching schemes.