| Thane, Goregaon, Malad and Borivali in Mumbai are places to watch out for. In Delhi and the NCR region, Noida / Greater Noida, Gurgaon and Indirapuram are the prime picks, while J.P. Nagar, Banerghatta, and Hebbal among others are hot property in Bangalore. Old Mahabalipuram Road (Chennai), Rajarhat (Kolkata), Madhapur and Gachibowli (Hyderabad) are other places to look out for.
If you know your Indian cities well, you will realise the bulk of real estate action is happening in the suburbs of top metros. Construction activity, development of self-supporting infrastructure, etc. will see the realty prices in these location appreciate tremendously. Then too, many office spaces and IT parks are mushrooming across Bangalore, Delhi and the NCR region, Chennai, Mumbai, Pune, Hyderabad and Kolkata. Owning just 500 – 1,000-sq. ft. of residential space in the vicinity of these locations, you will be able to command any rental price from people working in these areas. Ever since a hub of industrial units including IT / ITeS opened in Noida, the cost of property in Indirapuram, Ghaziabad (which adjoins Noida) shot up dramatically.
According to a real estate expert, commercial property is the most lucrative generating 12% yield annually, while retail (malls) property could generate 8 to 9%. Whichever, way you look at it; the Indian real estate boom refuses to go away. Whether, you want to buy real estate for rental or end using purposes, you will find that in the long-term, you will be the winner, even though other |
