5 Promising real estate destinations in India
India as a whole has seen an upsurge in real estate market since the second half of 2014 and continues to rise as we move deeper into 2015, with both Tier I and Tier II cities reporting a sharp rise in demand both for commercial and residential real estate and big real estate projects are once again back in full swing. We have put together a list of the 5 best places to invest in real estate currently based on which cities in India are likely to yield the highest return on investment.
The Silicon Valley of India attracts thousands of job seekers every year not just because it is the hub of the Information technology industry in India, but also because of its sunny moderate weather, a far cry from the extreme weather conditions which plague most of India. With the US and global economy back on track, IT organizations are again witnessing strong growth leading to increased hiring which in turn leads to increase in demand for both residential and office space to accommodate the growing tribe of workers. Whitefield in particular is a good place to invest in property with a slew of big real estate projects under way and great infrastructure and connectivity.
One of the wealthiest cities in India, Mumbai is also the costliest city in India in terms of real estate process. It is the financial hub of India and also home to India’s roaring film and entertainment industry and remains one of the attractive property destinations in India. It has great transportation infrastructure and is well connected through roads, railways and airways to all major cities and towns in India and boasts of a stable and well functioning social and technical infrastructure. Navi Mumbai in particular has emerged as a great investment destination with great infrastructure and connectivity. Thane is another great property destination to invest in Mumbai promising great returns on investment.
Pune is fast emerging as the hub of new technology startups particularly in the areas of clean technology and life sciences. Like Bangalore, Pune also boasts of good year round weather and great connectivity and infrastructure. Its proximity to Mumbai, the financial capital of India has aided and abetted the growth of real estate in Pune. Viman Nagar is a good place to invest as the rate of return is one of the highest in this area. Other good places to invest in Pune include Aundh, Kalyani Nagar and Baner all of which are likely to yield good returns both over the short and long term.
The political capital of India is also one of the most demand cities for real estate with property prices witnessing one of the sharpest rises compared to other Indian cities. Gurgaon is fast emerging as an alternative IT hub of India with a lot of massive real estate projects, commercial and residential underway to take care of the rising demand. Other big property destinations include the Noida Extension and the Greater Noida belt as well as the Dwarka Expressway. Their proximity to Delhi, more reasonably priced real estate compared to Delhi as well as investments in connectivity and infrastructure have led to a boom in demand for real estate.
Hyderabad is home to many industries including the IT and ITeS, manufacturing and automobile industry and as such boasts of a great cosmopolitan population with growing demand for real estate. The boost in economy has also given a push to real estate here but prices still remain reasonable compared to cities like Delhi and even compared to Bengaluru. Recent infrastructure projects like the Metro as well as good road infrastructure are making Hyderabad one of the most sought after destinations by both foreign investors as well as Indian buyers.