2020 was the most volatile year on record as a residential market already struggling for survival was forced to deal with a collapse in real-estate demand caused by the pandemic induced lockdowns in 2020. It seemed unlikely that the subsequent economic fallout would allow market demand to revive in any meaningful way. However, once the initial panic subsided due to our improving understanding of the fight against the pandemic, economic activity resumed, and market forces rationalized over the latter half of the year.
When we talk about real-estate developments in Shela, the area has seen 7 new launches in last quarter and also the expansion of roads have been consistently increasing with about new roads of 15 kms opened this year.
The average property values in Shela hover around Rs 3,500 per sq ft. The locality has demonstrated a nearly 13 percent hike in capital values over the last two years. The development is principally owing to the rising land values on account of their increased demand amidst the builder community.
Maximum residential demand in Shela is of 3 BHK apartments with a carpet area ranging between 1,400 sq ft and 1,700 sq ft, 1 BHK and 2 BHK are also in demand. However, 3 BHK apartments are more in demand due to the availability of big size units at affordable prices.
The construction of Sanathal Flyover is in full swing and scheduled to be completed by the end of 2022, which will ease many traffic concerns.
Highlights
- Situated along Sardar Patel Ring Road, Shela is a developing area suited for affordable & mid-segment buyers.
- Proximity to key job hubs of Prahlad Nagar, Sanand, etc drives the residential demand in this region.
- Presence of social & retail infrastructure in the vicinity comprising malls, schools and hospitals.
- Key amenities nearby- DPS Bopal, Shanti Asiatic School, Shalby Hospital, Iscon Mega Mall, Gulmohar Park Mall, etc.
Locality snapshot
Schools 12+
Hospitals 14+
Restaurants 18+
Banks 15+
Grocery Stores 10+
Petrol Pumps 15+
