GREENFIELD DEVELOPMENT IN AHMEDABAD

The aim of this studio is to explore the development opportunities for the land to acquire more benefits by understanding the trends of macro and micro market by applying different resources which results into the highest and best use of that land parcel. The ‘Housing Project Studio’ is mainly focused on the development/redevelopment of greenfield/brownfield sites across the country. The proposed project is a Greenfield development in Shela area which is an upcoming residential hub towards western part of Ahmedabad city near South Bopal. The site was chosen based on different parameters like land use, market rates, location and accessibility. As per macro market analysis, housing supply is more than housing demand and west zone of Ahmedabad city is performing highest in terms of supply and demand. High market rates are towards central zone and second highest market rates are in the west zone. The west part of Ahmedabad city is a booming market in real estate development. The site was selected on the basis of Land potential analysis which is done through Delphi technique. The best product mix, selling price, unit sizes are identified on the basis of micro market trends. There is high demand for residential development in Shela area as per micro market study. Case studies were done to understand the process of real estate market. Based upon the final product mix, different iterations are worked out which results into the financially viable and implementable project. As per the final project brief, conceptual plan is prepared by reviewing GDCR regulations. The project is financially viable for the developers as ROI is high and the break-even point is in 3rd year, Quarter 3.