AHMEDABAD

Cushman & Wakefield

Global Cities Retail Guide

Cushman & Wakefield | Ahmedabad | 2019 0

Ahmedabad is the largest city in Gujarat and
served as the former capital of the state. The
population of the city stands at 7 million and
the land mass spans 464 square kilometres.
The city ranks 5th on the list of most
populated cities of India.
Traditionally, the retail industry in Ahmedabad has been
driven by the main streets, typical of Indian cities. The old
city still has a product-specific retail market. The city is
dominated by the presence of a strong business
community, which is the backbone of the state’s economy.
Ahmedabad is divided by the Sabarmati River into two
areas: East and West Ahmedabad. The eastern part
constitutes the old walled city and industrial areas, as well
as the upcoming location of Maninagar. The western part
of Ahmedabad is mainly inhabited by the middle class and
affluent population. This part of the city is the hub for major
main street locations such as C.G. Road, Prahlad Nagar,
S.G. Road and Ashram Road, and hosts many shopping
centres, reflecting the city’s adoption of modern retail
trends.
Due to the high purchasing power parity and increasing
brand consciousness of the globetrotting local business
fraternity, the city has witnessed the entry of major retail
brands in recent times. In terms of shopping centres,
‘Ahmedabad One Mall’ is the most prominent and
successfully running of all the malls in the city.
‘Ahmedabad One’ plays host to brands such as Lifestyle,
Shoppers Stop, Hamley's and GANT to name a few. Apart
from Ahmedabad One, Gulmohar Park and Iscon Mega AHMEDABAD
Mall are other mall’s within the city. However, these malls
are strata sold and hence the leasing and maintenance of
these mall’s have dwindled, resulting in a great deal of
OVERVIEW
vacancy. Prominent national, multi-brand retailers such as
Lifestyle, Hypercity, Shoppers Stop, Westside and
international brands such as Hamley's, Tommy Hilfiger,
Vero Moda, Swatch, Swarovski, Gant amongst others,
have established their footprint in the city. Retail giant
H&M has established their presence in this market as well.

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AHMEDABAD
KEY RETAIL STREETS & AREAS

C.G ROAD PRAHLAD NAGAR

The costliest and most prime retail main street in Located adjacent to S.G. Road, this area has
Ahmedabad, C.G. Road is strategically located in shaped into a business district due to saturation in
the heart of the city, adjoining Ashram Road. It other parts of the city and a boom in the residential
evolved to accommodate the demand of upcoming developments off S.G. Road. The rentals are low
international and national retailers and has now compared to S.G. Road along-with proximity to
emerged as one of the most prominent main streets. many multinational companies and large local
The road stretches from Stadium Circle up until businesses. This area has mainly caught the
Panchwati and boasts an eclectic mix of brands and attention of several Food & Beverage (F&B) brands
local high-end stores. It is also a prime location for offering varied cuisines, with many restaurant chains
various jewellery and ethnic wear retailers. Some of opening outlets along the stretch. Key retailers
the key retailers located on this road include operating at this location include Nike, UCB,
Shoppers Stop, Tanishq, Titan, Peter England, Dominos, McDonald's, Ford, Pantaloons, Van
Puma, AND, Wildcraft and W. Heusen, Peter England, KFC, Café Coffee Day,
AND, etc.

S.G. ROAD ASHRAM ROAD

S.G. Road developed on the western periphery of The oldest main street location in Ahmedabad,
Ahmedabad and connects the city with Ashram Road was the busiest commercial
Gandhinagar. Primarily built to allow traffic to bypass destination of the city until a few years ago. It is the
the city of Ahmedabad, it now forms an integral part financial hub of the city and houses many old
of the city with increased commercial and retail shopping complexes and government offices.
activity. There are a number of commercial However, the shopping centre culture has not yet
complexes and shopping centres located here such reached this location. It continues to enjoy the
as Iscon Mega Mall and Gulmohar Park Mall. This distinction of being a premium main street. The street
road caters to a variety of brands and products is witnessing a revival in interest from retailers due to
including restaurants, eateries and apparel retailers the increasing redevelopment activities of upcoming
such as McDonald's, Little Italy, Uncle Sam’s Pizza, commercial complexes and hotels. Ashram Road is
Dominos, Atithi, Kora-Men’s designer wear. a popular destination for jewellery and saree
shopping with some of the most trusted local brands
located here. Key retailers operating at this location
include Bata, Vijay Sales, Samsung, etc.

Cushman & Wakefield | Ahmedabad | 2019 2

AHMEDABAD
KEY RETAIL STREETS & AREAS

MANINAGAR SATELLITE ROAD

Maninagar is located in the southern part of Law Garden is a public garden in the city of
Ahmedabad and is an important area of the city. It Ahmedabad, India. The market outside the garden is
can be divided into two regions – Maninagar east very famous for the handcraft goods sold by local
and Maninagar west, separated by the Maninagar people. The road at the side of the garden is filled
Railway Station. The Kanarkia lake and Nagina wadi with street hawkers selling all kinds of food items.
are situated in this area. This area also hosts a train The Law Garden eatery market is likely to become
station on the Ahmedabad-Mumbai line where most more popular. This will help generate employment
of the major trains stop. Maninagar is also the and with additional local authority support, will help
entrance to the Ahmedabad-Vadodara expressway. ensure the quality of food served is better regulated.

Cushman & Wakefield | Ahmedabad | 2019 3

AHMEDABAD
MARKET OVERVIEW

KEY AREAS/ CONSUMER PROFILE MAJOR RETAILERS PRESENT NEW ENTRANTS AVERAGE RENT RANGE OF
STREETS/ (SQFT/ MONTH) STANDARD UNIT
SHOPPING CENTRES SIZES (SQFT)

C.G. Road Upper middle and high Bose, Levi’s, Mufti, Wills Lifestyle, Metro, The Raymond $2.2 - $2.7 700 - 2,000
income consumers Tanishq, Spykar, Louis Philippe, The shop,
Golden Time, Tommy Hilfiger, Nike, VIP,
Orra

C.G. Square Upper middle and high Louis Philippe, Levi’s, United Colours of H&M, Marks and $2.3-$3.0 600 – 2,000
income consumers Benetton, USPA, La Thai Spa, Nike, The Spencer
Body Shop, Shoppers Stop, Time Cinema

Ahmedabad One Mall, Middle and high income Swarovski, Asics, Hamleys, Nykaa, GANT, Swarovski, INC 5 $2.3-$3.0 350 - 20,000
Vastrapur consumers Levi’s, Jack and Jones, Nike, Fashion Big
Bazaar, Ritu Kumar

Data as of June, 2019. 1 US$=69.81 INR

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 AHMEDABAD
SHOPPING CENTRES

AHMEDABAD ONE MALL

Ahmedabad One Mall, formerly known as Alpha
One, is strategically located at Vastrapur in
Ahmedabad. The shopping centre opened in
October 2011 and is spread across 700,000 sqft.
The mall exhibits a robust mix of shopping, dining
and entertainment. The centre hosts both Indian
and international brands such as Swarovski,
Shoppers Stop, Hamley’s, FBB, Jack and Jones,
Ritu Kumar, Asics, to name a few.
Ahmedabad One Mall is part of the Blackstone
Group’s mall portfolio group known as Nexus
Malls.

Cushman & Wakefield | Ahmedabad | 2019 5

AHMEDABAD
FOOD & BEVERAGE

Gujaratis’ love for food has led to an Famous F&B chains present in the city include
McDonald's, Subway, Dominos, Pizza Hut, KFC,
assorted mix of multicuisine Barbeque Nation, etc. There are also many restaurants
restaurants, global food chains and serving traditional Gujarati, Punjabi and South Indian
local restaurants in the city. cuisines such as Mirch Masala, Gordhan Thal, Vishala,
Swati Snacks, Rajwadu, Gormoh and Dakshinaya. These
A bulk of the city’s population are vegetarians. Owing to capture 50-60% of the F&B market in the city.
this habit, Pizza Hut opened its first vegetarian-only outlet
in the country a few years back to capitalise on this trend.
With an upsurge in urbanisation of people from
neighbouring areas and exposure to the global cuisines, a
variety of restaurants focusing on regional food have
opened in the city. Eateries and restaurants in the city are
located in commercial complexes along the streets, as
well as in prominent shopping centres.

KEY AREAS CONSUMER FOOD & BEVERAGE OPERATOR INCLUDING RENT FOR 3,700
PROFILE SQFT UNIT
(SQFT/MONTH)
Prahladnagar Corporates and Barbeque Nation, Dominos, Baskin Robbins, $2-$2.5
residents Keventeers, Dakshinayan
Drive-In Road Local residents Barbeque Nation, Café Coffee Day, McDonald's, $1.5-$1.75
and students Subway
S.G. Highway Mid market & Huber & Holly Ratatouille, Gordhan Thal, Mirch $1.5-$2.0
more affluent Masala, Honest, Pakwan,
consumers
C.G. Road Students and mid From The North, Subway, Cafe Coffee Day, $2.0-$3.0
to high income Mirch Masala, Swati Snacks, Stuffs Food
consumers

Cushman & Wakefield | Ahmedabad | 2019 6

 MILIN ROHINESH
Director – Retail Services
Direct: + (91) 22 67715555
Mobile: + (91) 9821047374
[email protected]

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