Office: The third quarter saw a y-o-y increase of 39% with 0.23 msf in gross leasing volume (GLV). Leasing activity in Q3 was dominated by the Engineering and manufacturing sector with a share of 32%, followed by the flexible workspace sector with 23.2% share. A total of 0.92 msf was completed in Q3 2022, along with a total office inventory of 22.65 msf and a vacancy level recorded at 30.34%.
Residential: In the third quarter of 2022, Ahmedabad’s residential market saw a marginal y-o-y rise of 0.9%, with a launch of 3,646 residential units. New launches in this quarter were dominated by the mid-segment with a 47% share followed by the affordable segment with a 40 % share. Q3 also saw the rise of the high-end and luxury segment in Q3 2022 from the previous quarter.
Retail: In Q3 2022, malls in Ahmedabad saw healthy leasing activity, mostly because of churn in premium malls, whereas average and good malls witnessed fresh leasing activity. Fashion and accessory store leasing in good and average malls surpassed superior malls’ leasing activity by approximately 65%, while superior malls’ leasing activity was driven by fashion and F&B on the back of high footfalls and rising demands.
Learn more by clicking our most recent Ahmedabad MarketBeat reports below.