For long-term investors looking to buy property in India, this is the right time to enter the real estate sector. It is now attractive to invest following decisions by the government to ease the foreign direct investment norms and its mission to develop 100 smart cities, according to credible reports.
Here PropGuide has listed the top five cities that will offer good returns on real estate investment.
This newly announced capital of Seemandhra will be an important emerging real estate market. The city is already a real estate investors’ dream, as in some locations near Guntur land prices have appreciated by around 200 per cent. Much of the construction, development and growth will happen now, as an Assembly building and many more governmental structures are going to be built. At present, the investment opportunity is limited to land buyers.
The value of homes has gone up by 2.9 per cent when compared to Q2’FY15, according to Realty Decoder Q2’FY16. However, that is not the only factor for investors to put their money in the city. The city will soon see new business districts that the state government is planning in the vicinity, proposal of Delhi-Mumbai Industrial Corridor (DMIC), and the emergence of new residential hubs. The growth is expected to be constant given the new-age constructions in pipeline.
The city has been witnessing expansive growth of real estate and prices. A number of new areas are coming up driven by the development of areas including BT Road, Chandarpur and Baraipur. This has given rise to residential options in South and North of the city, indicating that it is growing from all sides.
Bhiwadi & Dharuhera
Bhiwadi in Rajasthan and Dharuhera in Haryana are the latest and the hottest investment destinations. Their proximity to Gurgaon and Delhi, in addition to industrial developments in these areas, make them the best bets. Bhiwadi, one of the largest industrial hubs in the country, is being touted as the emerging outer investment zone in North. In terms of residential property, this area has a large inventory of homes available in the affordable category. Dharuhera is also witnessing industrial growth and has a large number of residential developments. However, return on investment in Dharuhera is around five years, as compared to three years in Bhiwadi.
The realty boom in Bhopal is constant and the city is already delivering returns to many investors. The property prices in Bhopal have been growing at around 20 per cent year-on year. Many new areas are coming up with high-rises providing ample inventory for investors. Around 50 new projects are under construction. The demand stems from increased industrial growth which in turn creates jobs and gives spending capability to people.