Top 5 cities for real estate investment in India in 2019
Investing in real estate is a very crucial life and financial decision. People belonging to the lower and middle income groups especially, have to be better-informed before they take this decision, since such people typically rely on home loans for property investments. You need to consider several aspects before you put your savings as down payment and take on a high-value, home loan that can last for 20 years or more. Factors such as the city, the locality, the price per square meter, and the available civic amenities and infrastructure, among other things should play an important role in influencing your real estate investment decision. If you are wondering where to invest in property in India in 2019, you can consider one of these cities.
Mumbai: The city of dreams, Mumbai remains every investor’s favourite when it comes to real estate investments. It is one of the fastest growing cities in the world, which makes it a worthy investment. Localities such as South Mumbai, Bandra, Worli, Juhu and Andheri are regarded as the crème de la crème of Mumbai. Since these are the most expensive, localities in the city, so you should be ready to provide a down payment of anywhere from ?2,500,000 to ?10,000,000. That said, you can expect great return on investment within just a couple of years, if you invest in any of these posh neighbourhoods of Mumbai.
Navi Mumbai and Thane: While Mumbai is a great city for real estate investments, it is not really known for housing big-sized flats and apartments, ideal for a joint-family setting. If you aspire to live in Mumbai on a budget, but own comfortable, two and three BHK flats, localities like Navi Mumbai and Thane can prove to be the best place to invest in property in India. These up-and-coming Mumbai-adjacent neighbourhoods are known for spacious and affordable real estate projects. Moreover, these localities are also well-developed. They boast of the best civic amenities including transportation, health centres, education institutions and recreational centres like parks, shopping malls and entertainment centres. With so much development, you can expect a great return on real estate investment in just a few years.
Bangalore: The start-up capital of India, Bangalore is also known as India’s Silicon Valley. Despite being one of the best cities in India to work in, the real estate rates in Bangalore are quite affordable. However, experts predict that this will not be the case in the next 2-3 years and buying a home in Bangalore will become unaffordable thanks to the IT boom being witnessed by the city. With several new infrastructure and amenity projects including new Bangalore Metro routes and housing projects in the Bangalore International Airport area, Bangalore is the best city to invest in property in India in 2019. Some of the best localities for real estate investment in Bangalore include Indira Nagar, Lavelle Road, Hebbal, Koramangala, MG Road, Whitefield etc.
Pune: Once known as the pensioner’s city, Pune has emerged as one of the most rapidly developing Indian cities. There was a time when the city had lots of untapped land but builders are now focusing on creating low-cost projects. As a result, Pune’s real estate market is picking up swiftly. Apart from being home to some of the finest educational institutions in the country, Pune’s year-round pleasant weather and great public amenities have also contributed to its popularity with more and more investors expressing an interest in this city. Localities such as Kalyani Nagar, Koregaon Park and Deccan have always been a great choice for real estate investment, whereas areas such as Kharadi, Magarpatta, Warje and Baner have grown exponentially in the last few years making Pune one of the best real estate investment in india.
Hyderabad: Like Bangalore, Hyderabad is another city with a booming IT sector. It is a city that witnesses lots of foreign outsourcing, which means the job opportunities in this city are tremendous. This has contributed to a rise in city population, with the city youth considering Hyderabad to be a great city for a long-term and residential real estate investment. The thriving IT sector has also resulted in a growth in commercial real estate. Hyderabad, like all other cities mentioned in this list, also boasts of great public and civic amenities and infrastructure. It is therefore, one of the best places to invest in property in India, especially in localities like Gachibowli, Manikonda, Miyapur and Kukatpally.
Apart from these above mentioned cities, you can also consider the Metros of Delhi, Chennai and Kolkata for real estate investments. Gurugram, Ghaziabad and Noida are some more localities in North India for property investments resulting in good returns on investment.