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Ahmedabad MarketBeat Reports

Suvishesh Valsan • 08/07/2025
Cushman & Wakefield Ahmedabad MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

CURRENT MARKETBEAT

Office Buildings CBD
Ahmedabad Office Report

Ahmedabad office market recorded gross leasing volume (GLV) of ~161,000 SF in Q2 2025. GIFT City comprised ~70% of Q2 leasing, followed by the SBD submarket (23% share). Leasing was led by engineering & manufacturing and IT-BPM firms, holding 24% share each. The city witnessed new office space addition of 0.8 MSF. A robust net absorption of 3 MSF in the last 12 months brought down the headline vacancy rate to 26%. Quoted rents in SBD and GIFT City sub-markets increased by 3-5% q-o-q.

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Shopping Retail
Ahmedabad Retail Report

Ahmedabad saw retail leasing volume of ~40,000 SF in Q2 2025. Main streets accounted for almost the entire leasing during the quarter. Fashion segment led with ~27% share, followed by accessories & lifestyle and wellness segments, comprising 24% and 21% shares, respectively. Overall mall vacancy tightened to 13.8%. Main street from Sarkhej to Thaltej locations saw a 5-7% y-o-y rental growth while those from Sindhu Bhavan Road and C.G. Road rose 2-3% y-o-y. 

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Warehouse Internal Rack
Ahmedabad Residential Report

Ahmedabad witnessed a new supply of 5,166 residential units in Q2-25. The West Peripheral sub-market led with 37% share, while the North closely followed with 30% share. The mid-segment sustained dominance, capturing 70% share while the affordable segment recorded its strongest performance since Q4-22, with ~ 1,550 unit launches, marking a 6X q-o-q growth. Average capital values grew ~6% y-o-y while average rentals grew 10-15% y-o-y.

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Warehouse Internal Rack
Ahmedabad Industrial Report

Ahmedabad saw warehouse leasing of ~0.5 MSF in H2 2024, 85% higher than H1-24. Changodar and Kheda were the top two sub-markets with a 50% and 31% share, respectively. Engineering and manufacturing led with 37% share, followed by E-commerce (31%) and 3PL (17%) firms. Ahmedabad witnessed 0.2 MSF of industrial leasing. Sanand led with a 71% share, followed by the Changodar sub-market (26% share). Land values appreciated at an average of 20-25% y-o-y.

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Warehouse Internal Rack
India Capital Market Report

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.

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Contact

Abhishek Bhutani.jpg
Abhishek Bhutani

Managing Director - Logistics & Industrials and Ahmedabad • Mumbai

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