Top Cities for Property Investment in India 2021
Every Indian has a dream of owning their homes and this has been considered as a matter of pride and prestige. Real estate assets are long-term financial security that is capable of earning capital appreciation and a stable income.
The real estate market is diverse in India compared to those outsides. Thus, one of the major factors to consider while making a real estate investment decision is the location as it translates into profits. While making an investment, it is very important that you study the location to check whether the area is prone to economic developments. Industrial experts have stated it to be better to invest in developing areas than in developed areas as the price of the property will be currently lower but will surely increase in the future, thus earning you a handsome return on your investment.
While investing in real estate, it is also very important that you ensure you have access to public transportation and basic amenities. You should also check the infrastructural developments in an area to determine whether the purchase is worth the money spent on it. Let us look at some of the best locations in India to invest in.
Where to invest in India?
The question of where to invest and why to invest are equally important. You must know where you should invest to earn the maximum return on your property. If you are considering investing in rental properties, it is also very important that you analyze various market conditions before making your investment decisions. Some of the best locations for real estate investments in India include:
Located in the Konkan Division of Maharashtra, Navi Mumbai is home to rapid industrial and commercial developments. The main reason for the increasing economical investments in Navi Mumbai is due to its excellent connectivity to its top commercial centres such as Mumbai and Thane. The government has also announced projects such as Trans-Harbor Link (MTHL) and the Navi Mumbai International Airport (NMIA), to improve the connectivity further.
Ulwe, Kharghar, and Taloja are some of the preferred spots for real estate investments according to the real estate reports of top real estate companies. Kharghar has been recognized as the hotspot for real estate investments in Navi Mumbai as it provides a combination of scenic views, recreational facilities, and commercial advantages. Panvel is also another hotspot for real estate investment due to the presence of several renowned schools and companies in the area.
Taloja on the other hand is one of the most promising places in Navi Mumbai as it is well-connected to central and western parts of the city by the MIDC Road. Moreover, it is also close to the Mumbai International Airport. Taloja also hosts several schools, colleges, hospitals, and dispensaries. The price of the property in Navi Mumbai ranges between Rs 5,500 – Rs 9,000 per sq. ft.
Pune is also considered to be one of the top real estate markets in India. The lovely climate and the easier accessibility to different amenities have earned it the title of ‘Retiree’s paradise’. Now Pune is home to several large educational institutions and companies. The students coming to study in Pune prefer to find employment and settle in Pune.
Wakad is a suburb in the western region of Pune and is proximate to Hinjewadi Information Technology Park which is home to companies like Accenture, Infosys, Tata Consultancy Services, Wipro, etc. The suburb is also connected through the Pune-Bangalore Highway due to which there is an increase in demand for the residential real estate sector. The fact that Wakad is 40 minutes away from the Pune International Airport and around 15 minutes away from the Pimpri railway station has also boosted the demand for property in Wakad. It is also close to the manufacturing and automobile industry located in Pimpri-Chinchwad.
Wagholi is also another prominent location for real estate investment and is considered to be an ideal location for investment as it is connected to the IT belts, BPOs, and call centres. Some of the other locations for investment in Pune include Undri and Keshav Nagar.
The development of the IT sector has led to an increase in demand for commercial spaces in Hyderabad. Hyderabad is known to provide the best quality in living conditions due to which it is crowned as the best city in India for real estate investments.
Gachibowli is an IT hub in Hyderabad which hosts several multinational companies. It is also proximate to some of the prominent business parks like the Information Technology and Engineering Consultancy City (HITEC City) and is also just 30 minutes away from the Rajiv Gandhi International Airport (RGIA).
The recent announcement by the GMR group regarding the launching of the aerocity in Hyderabad is also all set to boost the demand for properties in Hyderabad. The Hyderabad real estate market holds some of the spectacular properties at excellent and affordable rates in comparison to other metropolitan cities in the country. Hyderabad also offers a wide range of real estate investment options such as commercial, residential, co-living, senior-living, etc. which further attracts investors.
Bangalore is one of the top spots for commercial as well as residential investments. The demand for real estate investments in Bangalore is highly dependent on its IT sector which generates large employment opportunities. Whitefield, Sarjapur Road, Electronic City, Hebbal, Yelahanka, Nayandahalli, etc. are some of the top spots for investing in Bangalore.
Some of the prominent commercial players of Bangalore include Dell, Aegis, Hewlett-Packard, Accenture, Infosys, Wipro, Tech Mahindra, and Tata Consultancy Services. Thus people from different parts of India migrate to Bangalore in search of better employment and end up settling in Bangalore due to factors such as security, quality education and healthcare, nightlife, and other recreation facilities.
Commercial and residential investments in Bangalore can earn you high capital appreciation and also high rental income. Investing in Bangalore is never disappointing as the city is growing rapidly in terms of not just commercial and residential investments but also due to its superior connectivity and infrastructure developments.
Chennai is also another hotspot for real estate investments. Superior connectivity, infrastructure, commercial and industrial development, access to quality education, healthcare, and recreational facilities, have been some of the main attractions of Chennai. Some of the major projects to further develop the connectivity in Chennai includes the IT Expressway project in Thuraipakkam, Thoraipakkam Pallavaram Radial road project, etc.
The automobile and IT sectors have led commercial investments in Chennai. Some of the prominent players in Chennai include Flextronics, FL Smidth, Saint Gobain, Michelin, Renault, and Nissan. Due to the increase in working and student population, Chennai has witnessed development in its residential sector as it now offers a wide range of properties for investment.
OMR has also been an ideal location for real estate investments due to its economical and commercial developments. The IT companies have been instrumental in opening up employment opportunities which have led to people from different parts of India migrating to Chennai. The properties in OMR are also placed at an affordable rate by reducing the average size of the property. OMR also offers access to facilities like ATM, gyms, healthcare facilities, general stores and shopping malls. It is also a preferred location for investment as the properties offer serene and affluent living facilities. The property in OMR also appreciates rapidly, making it an ideal location for real estate investments.
Reasons why the Indian real estate market is growing at a faster pace
Real estate has been preferred by most investors due to the multiple benefits that it offers. Some of the benefits of investing in real estate has been discussed below:
- It provides a sense of security amidst all the uncertainties. In a recent survey conducted by a leading portal, it was recorded that 92% of the respondents of the survey wanted to secure themselves a physical asset. The main reason why the respondents believed having a physical asset was better is that such assets are less volatile even if they cannot earn you sudden yields.
- Residential real estate is considered to be one of the best ways to invest your money as it offers you maximum sustainability.
- Real estate offers high returns on investment (ROI) and is also capable of earning you passive income in the form of rent.
- The pandemic has led to the builders providing various offers and discounts on the property. Thus by investing now, you can earn high capital appreciation once you sell the property.
- Since home loans have been sought out as one of the best ways to finance your property, the reduced home loan is expected to trigger property sales and increase cash flow.
- The depreciation in the value of the Indian rupees has made real estate properties in India an attractive choice for the NRIs as well.
Let us further discuss some of the ideal locations in India for investing in your real estate properties.
Real estate is one of the best options for investment. While planning your real estate investment, it is important that you evaluate different markets and their benefits to find your potential property. Identifying the right location also increases your profitability for the investment. Prime locations offering top-class facilities creates a desire in the minds of potential investors and this, in turn, creates demand for the property.
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Top Cities for Property Investment in India 2021 FAQ's:
Chennai, Bangalore, Pune, Mumbai, and Hyderabad are some of the top locations to invest in India now as these prime markets have started offering properties at much more affordable rates with builder discounts which have been granted. States like Maharashtra and Karnataka have also offered a deduction on stamp duty which has further reduced the cost of buying properties in these States.
Yes, real estate is one of the best options for investment in 2021 as the cost of purchasing property is considerably lower than before due to builder discounts and stamp duty reductions. The reductions granted on the home loan interest rates and the introduction of technologies such as blockchain have made real estate a good form of investment.
Mumbai has been a dream to many due to its rapid developments in the commercial arena. Mumbai offers quality education, superior connectivity, excellent nightlife, and great scenic destinations.