Sabarmati riverfront rentals costliest in Ahmedabad

Not many realty players have warmed up to riverfront development rights, but the rental rates of the area are on fire. The Sabarmati Riverfront Development Corporation Limited (SRFDCL) has got the rent of Rs 996 per sq ft (carpet area) per month for a 133.47 sq ft shop below Subhash Bridge on the eastern bank of the riverfront. An adjacent shop has been rented out for Rs 677 per sq ft per month. These rental rates are far higher than any in Ahmedabad, and probably in Gujarat. Eateries on Sindhu Bhavan Road - considered one of the costliest areas in Ahmedabad - have been rented out for around Rs 200 per sq ft per month, realty players said. SRFDCL fetched average rent of Rs 266 per sq ft per month for 28 properties auctioned over the past 15 months. These properties included restaurants, shops, and offices. This average rate is five times the average office space rental of Rs 47 per sq ft per month in tony localities of the city.