Ahmedabad: Gujarat’s real estate sector continued its upward trajectory during the first half of 2026, with Ahmedabad emerging as one of the country’s strongest-performing property markets. According to the latest Knight Frank India report, the city recorded its highest residential sales since the pandemic, while the commercial office market remained resilient despite global economic uncertainties.
AHMEDABAD RESIDENTIAL MARKET SUMMARY
| Parameter | H1 2026 | H1 2026 Change (YoY) |
| Launches (housing units) | 11,077 | 3% |
| Sales (housing units) | 9,581 | 2% |
| Average Price in INR/ sq ft | INR 4,826 | 3% |
Source: Knight Frank Research
The report highlights that 9,581 residential units were sold in Ahmedabad during H1 2026, reflecting a 2% year-on-year growth, while developers launched 11,077 new housing units, registering a 3% increase over the same period last year. Residential property prices also witnessed a moderate 3% appreciation, with the average price reaching ₹4,826 per sq. ft., reinforcing Ahmedabad’s position as India’s most affordable major residential market.
Ticket-size split of sales
| Ticket Size Categories | <5 mn | 5-10 mn | 10-20 mn | 20-50 mn | 50-100 mn | 100-200 mn | Total |
| H1 2026 | 2,956 | 4,134 | 1,695 | 677 | 106 | 13 | 9,581 |
| YoY % change | 0% | -3% | 13% | 13% | 87% | 92% | 2% |
Source: Knight Frank India
Rumit Parikh, Senior Director – Occupier Strategy & Solutions, Industrial & Logistics and Retail Branch Head (Ahmedabad and Indore), Knight Frank India, said, “Ahmedabad’s residential market continues to benefit from its unique affordability advantage, expanding infrastructure and a diversified employment base. The city has achieved record first-half sales while maintaining measured price appreciation, reflecting healthy end-user demand rather than speculative activity. Infrastructure upgrades, including the operational Metro Phase 2 and continued growth around GIFT City, are expected to support sustained housing demand, although developers will need to remain disciplined as inventory levels gradually increase.”
The report also indicates a notable shift in buyer preferences towards premium housing. Homes priced between ₹1 crore and ₹5 crore recorded healthy double-digit growth, while luxury housing segments above ₹5 crore witnessed the sharpest increase in demand. However, the ₹50 lakh to ₹1 crore category continued to account for the largest share of overall residential sales, reflecting Ahmedabad’s balanced and broad-based housing demand.
On the commercial front, Ahmedabad’s office market remained stable with 0.8 million sq. ft. of office leasing during H1 2026. More significantly, fresh office completions surged by 237% year-on-year to 1.7 million sq. ft., substantially expanding the city’s Grade-A office inventory. Vacancy levels also improved, indicating healthy absorption of premium commercial spaces.
AHMEDABAD OFFICE MARKET SUMMARY
|
Parameter |
H1 2026 | H1 2026 Change (YoY) |
|
Completions in mn sq. m (mn sq ft) |
1.7 |
237% |
|
Transactions in mn sq. m (mn sq ft) |
0.8 |
0% |
| Average transacted rent in INR/sq. m/month
(INR/sq ft/month) |
45 |
3% |
Note: 1. 1 square metre (sq m) = 10.764 square feet (sq ft), Source: Knight Frank Research
The report notes that India-facing businesses accounted for nearly half of the total office leasing activity, while flexible workspace operators contributed another 45%, highlighting the growing demand for managed and hybrid workspaces across Gujarat’s commercial capital.
| End-User Licensee/Buyer | India-Facing Business | Flex | GCC | Third Party IT | Total |
| Area transacted in mn sq ft | 0.40 | 0.36 | 0.01 | 0.04 | 0.81 |
Source: Knight Frank Research
Commenting on the findings, Knight Frank India stated that Ahmedabad continues to benefit from its affordability advantage, robust infrastructure pipeline and diversified economic base. The implementation of the Gujarat GCC Policy, expansion of Grade-A office developments and continued growth around GIFT City are expected to further strengthen Ahmedabad’s position as one of western India’s fastest-growing real estate destinations.
With residential demand remaining healthy and commercial activity maintaining momentum, the report suggests that Ahmedabad is well-positioned to remain the driving force behind Gujarat’s real estate growth in the coming years.