Top Real Estate Destinations in India for 2016
The real estate market in the country continues to remain upbeat & optimistic despite confusion that remains on whether or not we are witnessing an overall economic downturn. Infrastructure concerns have eroded some of the sheen of the real estate sector but housing continues to be one of the big engines of growth with both jobs & demand for commodities on the higher end of the spectrum. In view of the continued bullish trend, it is obvious some destinations in the country continue to score high on real estate investment indices. The current top five real estate destinations in India can be enumerated as below:
- Mumbai: The financial capital of India is the number one destination for realtors and consumers alike. The demand is high, supply consistent and the appetite for growth on the bullish side. The Madh–Marve area in Mumbai according to a study is expected to bring in a price appreciation of 94% by 2020. Other top destinations include Versova, Ulwe, Majiwada and others.
- Bengaluru: Public infrastructure continues to be a bane for real estate investors in Bengaluru, however the demand for housing is unprecedented in the city. The startup culture continues to make the city more cosmopolitan and the demand for housing remains high. East & North Bengaluru corridors are high on demand and there are a plethora of projects that have sprung up in the recent past.
- Pune: Slowly and surely out of Mumbai’s shadow, Pune is now emerging as the next hotshot destination for both investors and residents. With a slew of new ventures and attractive prices, the city is seen a huge surge in real estate demand. The new airport road area and Visharantwadi will be the areas to look at in the days to come.
- Gurgaon: Like Bangalore, the infrastructure worries continue to haunt Gurgaon but the demand for housing is unabated. As newer projects take off and the economies continues on the higher trajectory Gurgaon leads the demand side hands down. There is a continuous stream of supply with the biggest names in real estate development making a bee line for ushering in newer projects.
- Hyderabad: Jostling with Bangalore for the tag of the startup capital of India, Hyderabad is back on the hot real estate destinations chart once again. The dogma of the political unrest now firmly behind, the city is a hot destination for the premium housing segment in the affordable price range. Good infrastructure, stable political climate and prices yet to rocket high make it a top destination for home buyers!