The real estate industry is one of the fastest expanding in the world. The Indian real estate market has lately witnessed significant expansion due to rising demand for residential and commercial space. Moreover, sub-sectors, such as warehousing, logistics, and data centers, are also emerging, bringing new potential to the real estate market.
The problem in prior years was oversupply, which caused the business to stagnate. The availability of low-cost financing in the real estate market resulted in low-quality developments and, as a result, an excess supply. The situation worsened in 2018 as a result of the BFC issue.
The government’s ambition to build more than 20 million affordable residences across the country by 2022 would expand and develop new properties in urban areas. As a result, the real estate sector is prepared to reach $650 billion by 2025, which will represent 13 percent of India’s GDP.
With all this in mind, there are several cities in India that are excellent real estate investment opportunities.
Bangalore is the country’s information technology capital. The city has seen significant infrastructure development. As a result, Bangalore has emerged as a market leader in recent years.
Bangalore is one of the most efficient real estate investments because of its transport corridors, parks, malls, universities, and colleges. Moreover, the formation and rise of IT businesses in the city have resulted in a boom in the real estate market in Bangalore.
Whitefield and Sarjapur have more excellent appreciation rates, with typical flat and apartment prices ranging from 6,000 to 7,000 RS per square foot.
Over the last several years, Pune’s market has grown significantly, capturing the interest of investors. This rise has led to more houses being available at reasonable costs than in other cities. In fact, Pune has more than 60,000 available units.
Many regions of Pune have excellent amenities such as children’s play areas, swimming pools, high-level security, gyms, restaurants, and shopping malls. Another reason why this city is a fantastic choice for real estate investment is the rapid expansion and greater accessibility to hospitals, entertainment centers, and schools.
Hinjewadi, Wakad, Ravet, Kharadi, and Wagholi are among the places that have experienced a rise of more than 10 percent, with an average price per square foot of 10,000 to 15,000 RS. Locations such as Baner, Kharadi, Wakad, and Aundh have seen significant infrastructural improvements and are now within reach of numerous IT centers. Additionally, the objective to transform the city into a smart city will result in improved infrastructure in the future.
Hyderabad, the state capital of Telangana, has a cultural significance, making it one of the most efficient real estate investments. In particular, investors are interested in investing in this city because of its developed business infrastructure.
Hyderabad is home to some of the world’s largest IT companies, including Dell, General Electric, HCL Electronics, and Microsoft. IT firms have made substantial contributions to the city’s growth. For example, Cyber Tower is one of Hyderabad’s largest cyber parks, featuring stunning infrastructure and a variety of IT enterprises.
Sales have increased because of the effects of GST and demonetization. As a result, price increases of up to 10 percent have occurred in regions such as Hitech City, Kondapur, and Gachibowli during the last two years. The typical price of an apartment in these neighborhoods is between 10,000 and 15,000 RS per square foot.
Gurgaon is a popular real estate location. Since Delhi is the most densely inhabited city in the country, many businesses and IT parks have relocated to Gurgaon. As a result, many individuals are coming to the town, raising the prices of flats and houses.
Because of the proximity to the IGI Airport, three roads, and the KMP, commercial and residential complexes in Gurgaon provide first-rate facilities. In Gurgaon, the average housing price per square foot is between 4,100 and 5,100 RS.
Gurgaon’s civic infrastructure places it among the top choices for homeowners and real estate investors. The city boasts well-kept, spacious streets and a variety of schools, hospitals, parks, and retail complexes.
The city’s famous entertainment zones, gyms, bars, parks, and golf courses give it an international atmosphere, making it an excellent alternative for real estate investors. Gurgaon features some of the most stunning architectural styles that arose from diverse historical events from various periods.
The current worldwide situation had a severe impact on the real estate market in several cities, including Chennai. Fortunately, the city is currently on the rebound.
Investors prefer Chennai because of its vibrant and healthy economy. Due to the economy, the city has seen a greater presence of global corporations in the automobile, information technology, and manufacturing industries. This greater presence has led to the creation of many jobs.
Due to all this growth, Chennai saw a 93 percent surge in demand for residential units during the first half of 2021. In 2020, sales of residential units were 2,981. In 2021, sales increased to 5,751 units sold in the first half of the year. As a result of this surge, prices have risen by about 30 percent, with the average price being 8,000 RS per square foot.
Noida is another fantastic city in which investors should invest. This city is one of the country’s fastest-growing areas. Real estate values have risen dramatically due to various reasons, including attractive white-collar employment and excellent infrastructure.
Sector 137 is a well-established residential sector in the city and the most preferred neighborhood. Many of the population are professionals who work in and around Noida. The average price of a flat or apartment in Noida is 8,000 RS per square foot.
Mumbai is one of the places that has piqued the interest of many investors and homebuyers.
Although Mumbai is among the most expensive real estate markets in 2021, there are some regions where property values have increased at an unprecedented rate. Overall, real estate sales increased by 49 percent in the first quarter of 2021. South Central Mumbai, South Mumbai, and the Western Suburbs are among the most expensive areas in Mumbai.
Because of the rise in costs in Mumbai, the average price of apartments and flats per square foot is around 18,000 RS.
8. Navi Mumbai
Located on Maharashtra’s west coast, Navi Mumbai serves as a satellite city for Mumbai. It is one of the world’s largest planned cities, created to accommodate Mumbai’s growing population. Navi Mumbai’s neighborhoods were rapidly built, making it the ideal investment option for investors. The average price of a home or apartment in Navi Mumbai is around 25,000 RS per square foot.
Localities such as Panvel and Kharghar have experienced tremendous growth in the real estate sector. For example, the average capital price in Kharghar increased by five percent between October and December of 2020.
9. New Delhi
New Delhi’s real estate sector benefits from the city’s infrastructure. This city is a beautiful investment opportunity since many individuals pursue higher education and find work.
The demand for high-end offices from IT firms, banks, and FMCG industries is expanding at a rapid rate. There is also increasing demand for retail establishments, which has resulted in a variety of benefits for property owners.
Greater Noida, Yamuna Expressway, Kundli, and Bhiwadi are just a few of the New Delhi localities that have piqued the interest of investors. As a result, development in these regions is booming.
In turn, prices for flats and apartments in the region of Delhi is on the expensive side. While prices may start at 33,000 RS per square foot, the average exceeds five crores.