Investors are always on the lookout for data which will help them decide which property to invest in. A recent survey conducted by a real estate brand revealed top 50 locations for property investments in India based on their performance over the years. This survey helps investors to shortlist and determine which property would be more suitable for them. Let’s see which cities made the cut.
Top Areas for Property Investment
Mumbai- The most favourable investment location, Mumbai has 14 areas, featuring in the Top 50 Investment Destinations List. These entries have property in Mumbai which include Chembur East, Ville Parle(East), Bandra(East), Goregaon(East), and parts of Thane and Navi Mumbai.
Delhi- Delhi-NCR has a total of 11 areas. The areas featuring in the list are mostly in the Gurgaon, Noida, Greater Noida ,and Ghaziabad regions. Rohini in North Delhi is the only place in the main city of Delhi, which has found a place on the list.According to the real estate experts, this is the best time to invest in residential flats in Delhi NCR. The real estate value of the city is at an all-time low because of the oversupply of residential properties, and this is the best thing a home seeker or investor can look for.
Pune – The areas that have shown an appreciation in their values are Ambegaon, Chinchwad, and Bibewadi. This is the number one place for property investment with many unexpected advantages. Several giants in the Indian real estate industryhave at least one residential undertaking in this city.
Bangalore – RMV in North Bangalore, West HAL Layout in East Bangalore, and Rajarajeshwarinagar are the 3 top localities within the city that have managed to make their way onto the list.
Ahmedabad – Prahlad Nagar and Satellite Road have shown a rise in value from 11-16% in the last few years, showing that it is a popular choice among residents.
Chennai – In Chennai, the areas of Porur, Pallavaram, and Thoraipakkam have shown a 7% rise in their price. The top locality in the city is Thoraipakkam, which showed a 28% appreciation.
Others – Other profitable investment options would be Kondapur in Hyderabad, Tollygunge and Garia in Kolkata.The values of these areas have risen from 5 to 11%.
When to Invest in Property
The best time to buy property in India is during the festive season, when developers offer discounts and freebies. Also, banks and lenders, at these times, make loans more accessible to investors by easing their terms.
However, recent times have shown a lack of interest on the the investors’ part to buy property, hence, there has been a rise in inventory with builders. Prices of property have been rising, but at a very slow pace. In some cities, they have completely fallen. Even while properties are selling, high property rates and exorbitant interest rates, together with economic instability, are holding back investors from purchasing.
However, the Union Budget has taken steps to revive the industry this year. Development in several areas and ample scope for people to gain from possible price appreciation is slowly changing the real estate scenario for the better.
One of the main reasons behind the strong demand for investment is because of the growing population of upper middle class and the upper class in the country. Demand is rising, so the prices of property are expected to increase for the investors and home seekers.
To find a property in any of the locations mentioned above, visit commonfloor.com, a real estate portal with properties listed across various parameters like budget, type, and location.