Ahmedabad MarketBeat Reports

Ahmedabad recorded gross leasing volume (GLV) of ~0.5 MSF in Q4-25, registering strong quarterly momentum and lifting full-year activity to ~0.9 MSF. Flexible workspace operators dominated quarterly leasing with a 72% share, while IT-BPM contributed 14%. New supply of 0.8 MSF was added in Q4 with a q-o-q growth of 41%. Citywide rentals posted a 5% annual growth, with CBD rent rising 2% on q-o-q.

Ahmedabad recorded retail leasing of ~62,400 SF in Q4-25, driven entirely by main streets. Sindhu Bhavan Road led with 22% share, followed by Nikol at 14%. Fashion dominated leasing with 43% share, while F&B and CDIT contributed 17% and 13%, respectively, highlighting strong demand for lifestyle formats.  Overall mall vacancy tightened to 13.3% following a reduction in mall stock, while Grade A spaces continued to maintain extremely low vacancy at 2–3%, reflecting limited supply and sustained demand. Main street rentals grew 1–2% q-o-q and 5–8% y-o-y, with C.G. Road and SG Highway posting 8% annual appreciation. Robust leasing activity and rising rentals underscore healthy market fundamentals and sustained interest in prime retail corridors.

Ahmedabad recorded 6,745 residential launches in Q1 2026, a 30% q-o-q and 29% y-o-y rise, surpassing the three-year quarterly average by ~31%. The West peripheral submarket led the quarterly momentum with 37% of the total launches, driven by infrastructure upgrades and revised town-planning schemes ahead of the upcoming Olympics, followed by East peripheral (22%) and North (13%). High-end and luxury segments nearly doubled y-o-y to 36%, while the mid-segment dominated with 51% share, reflecting a 74% q-o-q surge. Affordable housing slowed to 18% growth due to supply concentration in limited pockets amid rising land costs. Rentals grew 1.3% q-o-q and 3% y-o-y, led by Western corridors, while the citywide capital values posted a modest 3% annual appreciation.

Ahmedabad’s warehousing and industrial market delivered strong performance in H2 2025. Warehouse leasing reached ~0.4 MSF, contributing to a robust 1.5 MSF annual total, led by retail and 3PL demand. Changodar continued as the top-performing hub. Industrial leasing surged to ~1.0 MSF in H2, driven by strong E&M expansion, with Bavla emerging as the standout submarket. Rentals and land values recorded healthy annual growth, reflecting upbeat market sentiment.

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.