Despite prices remaining stable, the real estate market in Ahmedabad seems to be gaining little traction. A latest study by Associated Chambers of Commerce of India (ASSOCHAM) ranks Ahmedabad fifth in terms of having the highest unsold residential inventory. The study claims that the city has 57,500 unsold units, which is 20 percent of under-construction residential properties. With 35 percent, DelhiNCR region topped the list of cities with highest unsold residential units followed by Mumbai (27.5 percent), Bangalore (25 per cent) and Chennai (22.5 per cent). Delhi-NCR has the highest unsold residential inventory with 2,50,000 units, followed by the Mumbai metropolitan region with 98,000. Bangalore comes next with 66,000 units and Chennai has 60,000 units.

Land policy reform needed for affordable housing: IIM study

On the promise of housing for all by 2022 under Pradhan Mantri Awas Yojna (PMAY), a study by a team from Indian Institute of Management, Ahmedabad shows the target cannot be achieved without radical reforms in existing land policies, and unless the government is ready to spend 2 percent of GDP, annually, for the goal. Currently, the government has a budget of spending 0.13 percent of GDP, making its promise undeliverable, claims the study. The study titled 'Examination of Affordable Housing Policies in India' conducted by Sebastian Morris, professor of Economics, and his team members, recommended reforms in the housing sector and concluded that government policies significantly cause supply problems increasing housing costs.