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What is the story about?
Shares of Ganesh Housing Ltd. gained over 6% on Thursday, November 27.
This comes after Ahmedabad, on Wednesday, was formally awarded hosting rights for the Commonwealth Games 2030 .
Ganesh Housing, in its investor presentation earlier this month, stated that it would be a potential beneficiary of the Commonwealth Games being hosted in Ahmedabad in 2030. "The city's selection as a host venue for the 2030 Commonwealth Games is set to further boost infrastructure development and investor sentiment," it said.
The company also mentioned that it has one of the largest developable land bank in the city, with 500 acre of land in prominent and potential growth areas of Ahmedabad, with developable area between 36 million to 40 million square feet.
Ahmedabad's real estate market is driven by rising project registration, robust infrastructure such as the Metro Phase II and its proximity to GIFT City, the company said.
Improved connectivity and strong investment appetite continue to fuel demand for both residential and commercial projects, with property values expected to appreciate by 10-15% annually, making Gujarat's real estate market a high-return opportunity, Ganesh Housing added.
The 2030 Commonwealth Games could open up one of the biggest infrastructure and real estate opportunity cycles the city has ever witnessed. Large sporting events trigger a wave of construction, hotel expansion, urban development and long-term demand for retail, residential and commercial real estate.
You can read more about the other companies that can benefit from this event here.
Shares of Ganesh Housing gained nearly 12% to hit an intraday high of 899.7 apiece in trade on Thursday. The stock now trades 6.8% higher at ₹857 and has a market capitalisation of over ₹7,300 crore.
This comes after Ahmedabad, on Wednesday, was formally awarded hosting rights for the Commonwealth Games 2030 .
Ganesh Housing, in its investor presentation earlier this month, stated that it would be a potential beneficiary of the Commonwealth Games being hosted in Ahmedabad in 2030. "The city's selection as a host venue for the 2030 Commonwealth Games is set to further boost infrastructure development and investor sentiment," it said.
The company also mentioned that it has one of the largest developable land bank in the city, with 500 acre of land in prominent and potential growth areas of Ahmedabad, with developable area between 36 million to 40 million square feet.
Ahmedabad's real estate market is driven by rising project registration, robust infrastructure such as the Metro Phase II and its proximity to GIFT City, the company said.
Improved connectivity and strong investment appetite continue to fuel demand for both residential and commercial projects, with property values expected to appreciate by 10-15% annually, making Gujarat's real estate market a high-return opportunity, Ganesh Housing added.
The 2030 Commonwealth Games could open up one of the biggest infrastructure and real estate opportunity cycles the city has ever witnessed. Large sporting events trigger a wave of construction, hotel expansion, urban development and long-term demand for retail, residential and commercial real estate.
Shares of Ganesh Housing gained nearly 12% to hit an intraday high of 899.7 apiece in trade on Thursday. The stock now trades 6.8% higher at ₹857 and has a market capitalisation of over ₹7,300 crore.
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