A slowing economy and rising interest rates put pressure on interest rates to properties in Ahmedabad for the first time since January 2010.

Although house prices rose slightly in Ahmedabad, prices fell in the northern and western sides of the city. This trend is Residex data, highlighting the National Housing Bank (NHB), a subsidiary of the Reserve Bank of India (RBI).

This is the first time, when prices in areas such realities Bodakdev, Amblie, Bopal, Jodhpurgam, Solagam, Thaltej, Shilajit Road, Vastrapur, Ambawadi and Vejalpur has been any change, when the rally 2009-10.

15 months of rallies, starting in January 2010, began to ebb in the month of April 2011. Between April and June this year, prices have dropped up to 14.08% in areas of the western part of Ahmedabad. From 213 points in January to March quarter 2011, the index fell by 183 between April and June 2011, the western area.

Between March 2010 and March 2011 showed that the property was the most expensive Residex Prahaladnagar, Bodakdev and Jodhpur. Prices rose by 53.24% in January-March 2011 compared with the period of the corresponding stage last year.

The western part of Ahmedabad has witnessed a surge in house prices, mainly due to car factories to come on Sarkhej-Sanand extensible, and the metro rail project.

In the case of the northern zone, covering areas such as Buddhnagar, Saijpur-Bhoga, Sardarnagar Vishnunagar and shows that prices have plunged Residex from 14.7% in April-June period this year compared to last quarter.

NHB Residex 2007 took 100 points of reference for all cities, including Ahmedabad. Latest figures show how Residex increased marginally in Ahmedabad (2.45%), with Mumbai (3.33%), Lucknow (2.16%) and Pune (1.10%) from the previous quarter between January and March.

Kishore Dedhia real estate consultant said, “down 14% in the west is largely due to the pressure on brokers who have borrowed money in the market and the need to repay.” In addition, Dedhia said that the market was slow in the west now. “A majority of buyers 1BHK went to the southeast of the city,” he said. “These factors have led to a 38% increase in property rates in Ahmedabad and dairy Vishnunagar Sardarnagar areas.”

Pankaj Kotak K Raheja Corp said, “the Bank rate rose to 11.5%, significantly contributed to the slow movement in the housing market.” Kotak said that the price of sand up, cement and iron have also had an effect. “Areas in the southern part of the city has managed to maintain prices due to the development of infrastructure is quite good here,” he said.