Ahmedabad realty market gets Midas touch with NRG buyers

NRG arrivals may make their families happy but realty players in Ahmedabad will perhaps be happier.

NRGs invested a whopping Rs 200 crore in the city's real estate market back in 2019.

This, according to developers, is likely to double thanks to an eventful wedding season and the Swaminarayan Mahotsav, which is expected to draw at least five lakh NRGs to Gujarat from December 2022 to February 2023.

The city has seen a string of existing and upcoming ambitious projects such as the Mumbai-Ahmedabad High Speed Rail Project, the Ahmedabad-Gandhinagar Metro Rail and the likelihood of Olympics 2036 being held here, which has drawn NRGs' interest in the realty market here.

Against other metropolitan cities in India, NRGs are drawn to investing in Ahmedabad because of its rapid infrastructure development and promising returns on investment.

The depreciation of the Indian rupee has also bolstered property demand among NRGs.