Top cities for NRIs to invest in India
Indian realty has always drawn the attention of the non-resident Indians simply as it is the country of origin.
Now, the appeal of real estate in India is improving as the form of an investment as well. With the Real Estate Regulation and Development Act and demonetization capable to boost transparency in the realty sector owning properties in the country has never looked this good before.
However, investing in real estate can be trickier when the home buyer is not present physically. Although a lot of present technologies advancement like augmented and virtual reality has made the buyers of property simpler for non-resident Indians choosing correct city and location for investment still needs considerable research before committing.
If you are a non-resident Indians with options to invest in the real estate market in India, here are some cities you can actually consider.
Mumbai
This promising city continues to grow exponentially as well as due to the sole reason growth in the peripheral areas is expected to be important.
Where to invest?
• Navi Mumbai
• Thane
Navi Mumbai and Thane have increasing opportunities for employment which in return are dividing demand for housing realty.
Thane finds the inclusion of the smart cities list as well as enjoys excellent infrastructure. Its connectivity to the central Mumbai is heartening. The average price per square feet is Thane East is Rs1138 and Rs1120 for Thane West.
On the other hand, Navi Mumbai is touted to be a well-planned city with the exceedingly great transportation and International Airport under-construction will serve to boost the price of property upon completion. The average rates of property can range from Rs17659 per square feet for high-end locations to Rs3316 per square feet for the affordable locations.
Hyderabad
Hyderabad is becoming fast the prime IT hub in the country.
Where to invest?
• Gachibowli (Average price per square feet - Rs 4150)
• Manikonda (Average price per square feet - Rs 3141)
Why?
Gachibowli and Manikonda are specific, are the areas that will have important growth in foreseeable future.
Manikonda is driven by the demand from IT sector. It is reflected a fast-growing affordable locality. Connectivity from both the areas are reasonably great and continues to improve.
Gachibowli is the favorite IT employees who work in the nearby areas. Here, the infrastructure us in upswing and close to international airport.
Bangalore
Bangalore continues to draw for IT/ITES employees with the pleasant weather as well as steady realty market. The social infrastructure in the city is growing and the connectivity will reach greater levels with the completion of next phase of Metro system.
Where to invest?
• Kanakapura Road (Average price - Rs 5131 per square feet)
• Hennur Road (Average price – Rs 5442 per square feet)
• Sarjapur Road (Average price – Rs 5172 per square feet)
• Bannerghatta Road (Average price – Rs 5403 per square feet)
Why?
Their upcoming areas will develop connectivity and infrastructure. Kanakapura Road specifically is advancing from easy access to Outer Ring Road, NICE Road and now, Green Line Metro.
Chennai
Real estate in Chennai is considered a safe investment simple as the fact that there is continuing demand for the homes driven by impressive industrial mix including automobile, technology, manufacturing and healthcare sectors. The area in the southern part is touted to be growing fast.
Where to invest?
• Grand Southern Trunk (GST) Road (Average price – Rs 4099 per square feet)
• Outer Ring Road
• Vandalur (Average price – Rs 4578 per square feet)
Why?
With great connectivity and growing infrastructure, the areas offer something for everyone.
Ahmadabad
Ahmadabad has seen a present surge in the employment opportunities. This basically hassled to the increase in demand for housing properties. The infrastructural improvements have enhanced the accessibility to the peripheral areas. The government has certainly made city friendly for investors through features like transparency, low entry points, incentives designed to attract investors and ease of procedures.
Where to invest?
• SG Highway (Average price - Rs 3536 per square feet)
• Bodakdev (Average price - Rs 5739 per square feet)
• Maninagar (Average price - Rs 3947 per square feet)
• Gota (Average price - Rs 3193 per square feet)
• Prahlad Nagar (Average price - Rs 5378 per square feet)
• Thaltej (Average price - Rs 5366 per square feet)
Why?
The emerging areas come with opportunities for sustained growth in future.
After alleviation of fears of a slowdown, real estate in India is poised well to rise to new heights. This certainly is a great time to purchase a property irrespective of whether it intends for housing purposes or the investment avenues.
