Ahmedabad can cater to realty needs of IT sector

The real estate requirement for the IT industry in the country is about 22 to 23 million square feet and Ahmedabad has the potential to cater to this rising need of the industry.

The city, however, needs to catch up with IT hubs like Bangalore and Hyderabad. Also, the quality of buildings has to improve, according to a presentation made by Cushman and Wakefield at, at a recently concluded seminar on Investment Avenues in Real Estate Markets-Ahmedabad. This seminar was organised by Real Estate Studies and Management Academy.

The city has a population of 5.5 million and has immense potential for development. Besides having facilities like uninterrupted power supply, the low cost of real estate in the city as compared to other cities, is an advantage, the presenter said. The state government needs to be pro-active for IT, ITES.

Jaygopal Sanyal, head of west India, consulting and land agency, Tramell Crow Meghraj, while talking to Business Standard, said, "The land price here, is very high as compared to the selling price and there is lack of economic development as far as I-T is concerned."