Ahmedabad MarketBeat Reports

Ahmedabad recorded ~0.3 MSF of office leasing in Q1-2026, indicating a strong recovery in occupier demand across the city’s commercial real estate market. Engineering and manufacturing firms led leasing with a 38% share, followed by flexible workspace operators and IT-BPM companies. The PBD submarket emerged as the most active office hub, driven by new Grade A office completions and large-format transactions, with SBD also seeing healthy activity. Citywide office rentals remained stable quarterly and rose 4% y-o-y, led by key PBD micro-markets, reflecting sustained demand for quality office space in Ahmedabad.

Ahmedabad recorded robust retail leasing of ~81,850 SF in Q1‑2026, driven largely by main streets, which accounted for over 95% of total leasing. Suburban markets dominated leasing, driven by strong traction on Sindhu Bhavan Road and Chandkheda, while West peripheral locations also contributed meaningfully. Fashion (33%), accessories & lifestyle (27%) and department stores (20%) drove demand, supported primarily by domestic brands. With no new mall supply, overall vacancy remained stable, while Grade A/A+ mall vacancy stayed tight at 2-4%. Main street rentals continued to rise, up 2% q‑o‑q and 6% y‑o‑y, reflecting sustained retailer interest in prime locations.

Ahmedabad recorded 6,745 residential launches in Q1 2026, a 30% q-o-q and 29% y-o-y rise, surpassing the three-year quarterly average by ~31%. The West peripheral submarket led the quarterly momentum with 37% of the total launches, driven by infrastructure upgrades and revised town-planning schemes ahead of the upcoming Olympics, followed by East peripheral (22%) and North (13%). High-end and luxury segments nearly doubled y-o-y to 36%, while the mid-segment dominated with 51% share, reflecting a 74% q-o-q surge. Affordable housing slowed to 18% growth due to supply concentration in limited pockets amid rising land costs. Rentals grew 1.3% q-o-q and 3% y-o-y, led by Western corridors, while the citywide capital values posted a modest 3% annual appreciation.

Ahmedabad’s warehousing and industrial market delivered strong performance in H2 2025. Warehouse leasing reached ~0.4 MSF, contributing to a robust 1.5 MSF annual total, led by retail and 3PL demand. Changodar continued as the top-performing hub. Industrial leasing surged to ~1.0 MSF in H2, driven by strong E&M expansion, with Bavla emerging as the standout submarket. Rentals and land values recorded healthy annual growth, reflecting upbeat market sentiment.

Cushman & Wakefield India Capital MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.