2014 Hotspots For Realty Investments In India
Speculators as well as long term residential buyers have always been attracted to the real estate market, and despite the economic slowdown, the glitter of realty never seems to lose its sheen. India has always been noted for its lucrative property hotspots and let us examine five such ones for the year 2014.
Mumbai, arguably the commercial capital of the country has the golden lucre of realty on it. And all that glitters in Mumbai realties have proven to be indeed platinum. This economic powerhouse is the most populous in the country and is strategically located to industrial and commercial areas of great importance. One can get more than ten times one’s investments in places like Navi Mumbai, Thane, Chembur, Wadala, Bhiwandi, Charkop and Kalyan. In particular Navi Mumbai, which was developed in 1972, has areas like Kharghar, Panvel, Palm Beach road, Panvel, Ulwe and Kalamboli upon which one may make astronomical profits. This is also due to the massive infrastructure in place in Mumbai, the city of dreams.
Pune, which soon is going to be named as Pumbai, due to its close proximity to the commercial powerhouse, has capitalized on the fact that it is indeed ‘the’ hub of IT/ITes international outsourcing services. Due to these facts strategically located realties in Kalyani Nagar, Aundh, Wakar, Baner, Wagoli, Charoli, Pimple Nilakh, Pimple Saudager, Rahatani and Viman Nagar are literal hot areas for tepid speculation and investments in realty. Punes elite boast of the purchasing power that few possess in India due to their involvement with the IT special economic zones. Due to the massive economic infrastructure and proximity to the international airport, Pune has established its name in so far much as an economic power can.
And so we come to Delhi, the capital of India, whereas it’s industrial alter ego Noida and Noida extension, by reason of it being in close proximity to the capital itself, and having the Dwaraka expressway at its helm make it one of the most appealing areas in India. The co-head of DTZ, India reports that Delhi NCR is the most appealing place because of yearly expansions of 15-20% a year and property prices shooting to more than 111% in some locations from INR 3200 to INR 6760 per sq. ft. Today the Noida extension has more than 80,000 residential units. Now that’s a realty hotspot.
The Dwaraka expressway has created over 12,649 residential units by connecting Gurgaon and Delhi NCR. In addition to this, cities like Gurgaon, Noida, Ghaziabad, Sonepat, Panipat and Karnal are interconnected making it an infrastructural powerhouse.
The first thing that comes to mind when one thinks about Bangalore is the massive information technology sector, and this is the home to virtually all the multinational IT giants, that matter in the world today. Amongst all commercial areas in Bangalore, Whitefield, in the east is the most prominent, due to its IT/ITes infrastructure and by sheer reason of it being a residential area of great potential.
The Export Promotion Industrial Park has changed the face of Whitefield by paving the way for global IT/BPO investments in this region. In addition to this, developers have added the icing to the cake by adding malls, shopping areas, five star hotels and residential areas.
The presence of employers here has created a new class of affluent and prosperous employees, and this has in turn created a vast demand for services of all sorts for them. Whitefield has a very good connectivity to the rest of Bangalore and this has created a very strong retail and FMCG demand market there. If you are looking flats for sale in Bangalore within 25 Lakhs, then approach Dreamz GK Infra builders. They are providing affordable housing in Bangalore.
Bangalore currently attracts more than 24% of investment in real estate
Further down South we come to the metro of Chennai, where we can find major corridors like the great southern trunk (GST road), Old Mahabalipuram road (OMR) and the East coast road (ECR), these areas have been rapidly expanding for the last couple of years as these areas have been demarcated for massive development by both local and national developers. Like Bangalore and Pune, Chennai has got a massive infrastructure for IT/ITes/BPO companies and this has been progressing on the path of sophistication in the recent decade.
The areas of development namely Pallikarani, Medavakkam, Chrompet, Tambaram, Thoraipakkam and Sholinganallur are the key vicinities in Chennai. Development is also taking place on the roads that interconnect the key commercial areas in this metro.
Hiranandanis Upscale, Arun Excellos Estancia, Embassy Residency, DLF Garden City and Olympia Opaline are some examples of mega projects that are going on in Chennai.
These are well connected by the roadways like OMR,GSR and ESR to each other. Keelkattalai, Pallikarani, Medavakkam, Chitlapakkam and Selaiyur are other rapidly developing residential areas in this High tech horizontal coastal metro of India.
Chennai - Southern Suburbs:
The southern suburb of Chennai covers major corridors along with Great Southern Trunk (GST Road), OMR (Old Mahabalipuram Road) and ECR (East Coast Road) has been witnessing a fast growth over the recent years. The improvement of the IT/ITES sector has paved away for overall development of these confines as it witnessed the development of large scale residential townships from both national and local realtors. The key vicinities in these are namely Pallikarani, Medavakkam, Chrompet, Tambaram, Thoraipakkam and Sholinganallur. The suburbs witnesses demand from IT/ITes employees as it comprises of major Roads where most IT related developments are concentrated. Many major national and local developers are developing townships in the southern suburbs of Chennai. There are large tracts of land/property available for developments in this submarket like Hiranandanis Upscale, Arun Excellos Estancia, Embassy Residency, DLF Garden City, Olympia Opaline and many more.
The submarket is well connected by OMR, GST and ECR to the city. This improvement of connectivity to the city location and infrastructure projects are likely to drive the property investment values in Chennai. The locations like Keelkattalai, Pallikarani, Medavakkam, Chitlapakkam, Selaiyur and other neighboring locations are expected to see the rapid growth in the coming years.