The COVID-19 pandemic had a profound impact on several markets, taking the economical curve of the country towards a steeper end. However, in spite of the downfall that various markets saw, the real estate market remained unaffected. In fact, some of the Tier 1 cities saw significant growth in the last 1 year.
Since Chennai is the hub for many automotive companies and planning for a second international airport in Chennai. Investors are actively looking to invest in Residential lands/plots in the periphery of the city like Oragadam , Padappai and in GST road for future dilution.
This surely is good news for real estate investors since this will not only keep their minds clear but they’ll also look for potential markets to invest in. And in a country like India where there’s room for plenty of businesses to grow tremendously, investing in the real estate market can be a smart option. Moreover, people who rely on home loans for property investments may think twice before making this decision as there are several factors that come into play when investing in real estate. These include the city, basic amenities, infrastructure, price per sq. ft., etc.
According to Address of Choice, a Real Estate Consulting firm, the Real Estate Forecast of 2021 has got a humongous number of property options to choose from. That being said, we have filtered out the list of the top cities for real estate investment in India on the basis of the Ease of Living Index (EoLI). The government’s EoLI ranks Bangalore at the topmost position followed by Pune, Ahmedabad, Chennai, Surat, and Navi Mumbai respectively.
Our Promising Picks for Real Estate Investment
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It’s highly likely that buyers may just get lured away by the profits of real estate and end up getting zero returns. Stay patient, conduct your research, check the property, check the market rates, and get going with your investment plans.
Bangalore
Also known as India’s Silicon Valley, Bangalore is a prominent IT hub that boasts some of the world’s top-notch IT firms and is also home to many startups and Indian tech companies. It’s a no-brainer why this Tier 1 city has been ranked as the no.1 city to live in. With the booming IT sector, more and more tech corps are likely to set afoot in Bangalore within the coming years. There are some of the best properties to buy in Bangalore in areas such as Whitefield, Yelahanka, Electronic City Phase 2 that offer world-class infrastructure and just about every amenity one could ask for. Buyers who are looking forward to getting their hands on some of the best housing projects can seal the deal now or wait for the prices to skyrocket and lose potential opportunities (as properties are likely to become unaffordable).
Pune
The Oxford of the East and the 2nd major IT hub of India, Pune is a sprawling, jungle city of 45 million that is not only known for its stunning IT parks but also is an educational hub that offers a comfortable lifestyle to its residents. The reason why more and more investors are expressing their keen interest in this city is due to its pleasant weather and great public amenities that come in handy at low costs. Areas such as Koregaon Park, Deccan, Warje, and Baner are great options to invest in.
Ahmedabad
Ahmedabad is Gujarat’s largest business and trading hub. That goes without a doubt why the government’s EoLI ranks the city at no.3. It has become an employment landscape offering various opportunities in the textile, engineering, chemical, and automobile industries. The BRTS and Outer Ring Road infrastructure projects have opened up a whole new world for the investors to invest in peripheral locations such as Thaltej, Bhadaj, Motera, Shilaj, and Satellite.
Chennai
The capital of Tamil Nadu, Chennai is purely an end-user-driven market. Outlining the map of Chennai, there are a plethora of options that open up for the real estate investors –
- North Chennai which is dominated by various industries
- Central Chennai which is the most developed part of Chennai with commercial and residential markets
- South and West Chennai that are taking a leap forward into becoming commercial zones by hosting a large number of IT and Fintech companies.
The Chennai Metro, Outer Ring Road II, and MRTS happen to be the chief growth drivers of the city creating enormous opportunities for potential buyers.
Navi Mumbai
Formerly known as New Bombay, Navi Mumbai is considered the largest planned city in the entire world. For buyers who plan on owning a comfortable, 2 and 3 BHK flat on a budget, Navi Mumbai can prove out to be one of the smartest choices. There are spacious and affordable real estate projects to invest in that are not only located in well-developed neighborhoods but also boast some of the basic civic amenities such as transportation, hospitals, parks, shopping malls, and educational institutions. With the rising development, a great return is expected in the coming years.
Certain key factors such as employment opportunities, good infrastructure, basic amenities, and access to nearby cities play an important role in setting up the selling point of both residential and commercial real estate markets. While our top picks include Bangalore, Pune, Ahmedabad, Chennai, and Navi Mumbai, you can also consider investing in areas such as New Delhi, Gurgaon, Noida, Kolkata, Coimbatore, and Mumbai. And with the regulatory norms setting up the right environment and bringing in transparency in transactions, the real estate sector is hands down one of the safest investment options.
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