Amid the heat of India’s housing boom, one market has stayed calm, affordable, and quietly promising. According to PropTiger.com’s Real Insight Residential: July–September 2025 report, Ahmedabad continued to be India’s cheapest big-city housing market, with prices averaging Rs 4,820 per sq. ft. in Q3 2025, up 7.9% year-on-year and 1.9% quarter-on-quarter.
The report noted that property prices across India’s eight major cities rose between 7% and 19% in the quarter, led by Delhi-NCR, Bengaluru and Hyderabad. But while these metros saw double-digit jumps and rapidly rising ticket sizes, Ahmedabad’s story is different modest appreciation, controlled launches, and resilient demand from genuine homebuyers.
Growth driven by real demand, not speculation
The PropTiger.com by Aurum PropTech report attributes the nationwide price gains to “strong end-user demand in the premium segment, elevated input costs, and a limited supply of quality, ready-to-move-in inventory.” Ahmedabad fits that frame but at a measured scale.
The city’s prices have risen steadily without the volatility seen in bigger metros. At Rs 4,820 per sq. ft., homes here cost nearly 45% less than Pune, almost half of Bengaluru, and a fraction of MMR’s Rs 13,250 per sq. ft. average. Yet the year-on-year growth of 7.9% suggests healthy absorption, not a market freeze.
Developers described Ahmedabad as a buyer-led market driven largely by local demand rather than speculative or investor-driven churn. That’s also visible in its limited price swings. Unlike Hyderabad, which jumped 13% YoY, or Delhi-NCR’s 19% surge, Ahmedabad’s steady growth implies sustainable demand, as per the report.
“The price appreciation in NCR is not speculative; it is a reflection of real demand, backed by end-users, strong income visibility and a clear shift towards quality developers and organised supply,” Deepak Kapoor, Director, Gulshan Group, said
Western region leads new supply; Ahmedabad close behind
The report added that “new supply across the top eight cities saw a 0.1% annual decline, with 91,807 units launched. However, new launches registered a 9.1% growth over the previous quarter, signalling cautious optimism among developers.”
While MMR accounted for 26.9% of new launches, followed by Pune at 18.7% and Hyderabad at 13.6%, the presence of Ahmedabad in this western cluster is notable. It sits within the same development corridor that continues to attract both institutional and individual investor attention but without the price escalation that has made Mumbai and Pune increasingly unaffordable for mid-segment buyers.
Developers are gradually tapping into this advantage. The report noted that new launches are now “strategically aligned with current buyer demand, which is heavily skewed towards the premium and luxury segments.” In Ahmedabad, this shift is visible in smaller proportions limited premium launches, controlled supply, and a measured pipeline of high-quality projects targeting end-users upgrading within the city.
Ashok Singh Jaunapuriya, MD and CEO, SS Group, said, “Delhi-NCR’s 19% surge is particularly striking. People are actively seeking out premium living spaces. The drivers are clear: strong end-user demand for better homes, rising construction costs, and significant upgrades to urban infrastructure.”
Affordable entry, rising confidence
Ahmedabad’s housing affordability remained its biggest draw. A mid-sized apartment here costs almost Rs 48 lakh for 1,000 sq. ft., compared to Rs 89 lakh in Bengaluru or Rs 1.32 crore in MMR, based on average per sq. ft. prices in the PropTiger report.
Even after accounting for price inflation, the cost difference between Ahmedabad and other metros has widened. For middle-income families, it continues to be one of the few big cities where homeownership is achievable without high leverage.
Developers see this affordability as a foundation for steady growth. The report’s national data showed a 14% rise in the total value of homes sold, even as volumes dipped 1% to 95,547 units. Ahmedabad, though not broken out individually in value terms, benefits from the same premiumization trend homes are getting larger and better-built, even if absolute prices stay low.
Long-term investors are beginning to see opportunity in this stability. The absence of speculative spikes has kept the market orderly, while infrastructure projects around the GIFT City, SP Ring Road, and expansion of Ahmedabad Metro continue to enhance livability.
The PropTiger report mentioned that the “western and southern markets” are dominating new launches and sales share. Ahmedabad, though smaller than MMR or Pune in scale, is positioned strategically in that same growth corridor. That geographic advantage, coupled with its affordability, makes it a natural beneficiary of both regional and investor spillover.
