Home purchasing is an important life goal for many individuals, providing security and stability for themselves and their families. Investing in real estate in India can yield substantial returns. When buying a property, location is a crucial factor to consider. Today, we will talk about some of India’s top places to invest in real estate. So, if you are looking for flats in India that can offer you top-notch amenities and a superior lifestyle, you should definitely consider the following cities:
Navi Mumbai, renowned for its well-designed residential properties, is a good location to invest in due to the upcoming Navi Mumbai International Airport. The project’s first phase is expected to be completed by 2024, resulting in increased job opportunities and a surge in demand for residential and rental properties.
The government has also introduced favorable policies, such as the CIDCO (City and Industrial Development Corporation of Maharashtra) housing program, which aims to provide housing to economically weaker and middle-income groups in Navi Mumbai. This scheme targets to provide 90,000 flats to EWS and MIG people.
Ahmedabad’s real estate market is expected to grow by 2-4% annually. The city has seen a surge in the development of residential complexes and apartments since the outbreak of the pandemic. Approximately 47% of high-end and luxurious housing projects are being built in Ahmedabad East. The Ahmedabad Smart City Project is also underway, and the city is expected to be counted among India’s top 20 smart cities.
Also, the Affordable Rental Housing Complex scheme has recently been launched to benefit the economically weaker sections. The Ahmedabad Urban Development Authority has announced the development of at least 6800 hectares of land in the city to introduce various affordable and residential housing options.
Pune, contributing to 13% of Maharashtra’s GDP, is emerging as a megacity due to its robust connectivity, technological advancements, and diverse industries. With an attractive Return-on-Investment (ROI), Pune’s property market is considered one of India’s best places to invest in real estate. Real estate investments in Pune grew by 75% in 2021, which is expected to continue in 2022.
Regarding real estate investment in India, Mumbai is a top choice due to its rapid expansion. Property registrations increased by 70% in the first quarter of 2021, leading to a 49% rise in overall real estate sales. While Mumbai is one of the most expensive cities to invest in, certain areas like Thane, Malad West, Mulund, Kandivali, and Goregaon ODC show potential for profitable property investment. And Jal Jeevan Mission aims to improve the quality of water supply in 4,400 urban local bodies.
Thane has emerged as a prime location for property investment in India due to its affordable residential properties and excellent connectivity to Mumbai. The significant economic and social infrastructure growth in recent years has led to increased investment rates in the city’s real estate market, with a 20% growth in the first quarter of 2021.
Thane city benefits from government policies promoting real estate investment. These include the Pradhan Mantri Awas Yojana (PMAY), Real Estate Regulatory Authority (RERA), and Credit-Link Subsidy Scheme. These initiatives aim to provide affordable housing and protect homebuyers’ rights.
India offers numerous cities with some of the unique flats in India for investment. Each town has its own unique features that cater to the preferences of different investors. Investors need to conduct thorough research, seek professional advice and consider factors such as infrastructure development, connectivity, government policies, and economic growth before deciding. Investing in real estate in India can be a lucrative opportunity with the right investment strategy and proper due diligence.