Why should one invest in real estate in these cities?
The government, recently, has introduced the Real Estate Regulatory Authority and Development Act, thus protecting the buyer’s interest and bringing in the much-needed structure and transparency in the real estate sector. With this new transparent and pro-consumer wave in the Indian real estate sector, investing in residential property is set to become even more attractive for NRIs.
Indian Real Estate Sector is receiving its significant investments from Non- Resident Indians for several years. They invest either for profits or for their personal use.
The below cities are well-wished locations for NRIs to invest. Let us look and decide why should you invest too?
- Delhi/NCR – Signified as the largest hub of call centers in the world with the existence of several MNCs and a large number of interests from IT sectors, Banking and Financial sectors, excellent location, metro connectivity, favorable tax policies, good infrastructure and connectivity with affordable capital values.
- Mumbai(Thane and Navi Mumbai)- It offers excellent infrastructure, inclusion in the smart cities list, centrally located and well-connected with Mumbai via railways and roadways. A well-planned city with low pollution level, excellent connectivity to Mumbai and other parts of the state, and good transportation system. Also, the proposed international airport will definitely impact property prices positively.
- Bangalore(Whitefield)- The city is an IT hub with a growth corridor, good connectivity, and social infrastructure, growing demand for properties within different budgets.Thus, Improved connectivity and other infrastructural benefits will increase demand for both office and residential in this submarket.
- Hyderabad(Gachibowli)- The city is an emerging IT destination, an education hub, upcoming infrastructure and affordable capital values. Demand will remain strong due to demand from the employees working in IT/ITeS firms. With infrastructure developments and improved connectivity along with relatively reasonable pricing of real estate, it will continue to remain as an investment potential for investors.
- Chennai(most of the southern suburbs)- The southern suburb of Chennai which covers the major growth corridors along the Great Southern Trunk (GST) Road, Old Mahabalipuram Road (OMR) and East Coast Road (ECR) have witnessed rapid development over the recent years. Growth in the IT/ITeS sector along with high liveability quotient, excellent civic bodies and an overall thrust on infrastructure development, and broad industrial base in the technology, automobile, healthcare, and hardware manufacturing sectors.
- Ahmedabad- Some of the factors that attract investors include emerging industrial powerhouse, government focus on improving overall infrastructure, attractive incentives and policies for investors, transparent and easy investment process, and low entry points.
“The most important and common reasons for these cities to command consistent investments from NRIs across the globe are modern urban development, economic growth, infrastructure, education, political stability, efficient legal system and ease of investment and exit,” says Mona Jalota, Director, International & NRI, Residential Services, Colliers International India. Cities that are close on the heels of the above mentioned top cities are Pune, Kochi, Vishakhapatnam, and Indore.
This growth is fuelled by consistent demand from the IT/ITeS sector in these cities. They have the added attraction of being commercial hubs and educational hotspots of their respective regions. All of these cities are seeing a constant growth in the employment opportunities, thus increasing the population of professionals from across the country. This has led to increased launches of residential projects, especially in the affordable segment, which is where the highest demand exists.