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
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.
Ahmedabad Retail Report
Ahmedabad saw retail leasing volume of ~50,000 SF in Q1 2025. Main streets led with an 87% share while the remaining was contributed by malls. Fashion stores dominated with ~53% share. Mall leasing was largely concentrated around fashion, accounting for a ~90% share. Muted mall supply led to a decline in mall vacancy rates, with superior grade malls witnessing tight vacancies in the range of 2-4%. Main street rentals between Sarkhej to Thaltej locations grew 5-6% q-o-q and 2-3% on Sindhu Bhavan Road and C.G. Road.
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.
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.
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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