Top 10 Property Destinations of INDIA

1) Mumbai:

Mumbai, the financial hub of India is one of the hottest property destinations in Indian real estate market. The city promises major infrastructure growth and development which has led to the real estate development in residential and commercial segment.

Moreover, the city is witnessing residential and commercial growth in suburban areas. For instance, the Vasai-Virar region in western suburb of the city is famous for budget housing, the area near Panvel, where the developers have launched integrated township projects as the region is close proximity to infrastructure like upcoming international airport, the Trans-Harbour Link, railway station and mono rail, according to ET Bureau.

Also, developers are looking forward to boost the lifestyle in Mumbai, which is now flourishing in residential sector. Therefore, developers are introducing more integrated township projects and luxury housing projects in the city considering buyers’ need, which has shifted from traditional to quality lifestyle. These are the factors driving the growth of real estate in Mumbai making it one of the top real estate destination in India.

2) Delhi-NCR:

National capital region (NCR) is another top property destination in India, when it comes to real estate.  The NCR is renowned for business, politics and fast growing infrastructure, which are driving the real estate growth in residential and commercial segment.  

Today high-tech townships are the new buzz word among real estate developers and NCR  boasts of having such townships like Wave city and Sushant Megapolis, which is in close proximity to Ghaziabad and Greater Noida.

Moreover, developers are coming up with more luxury housing projects in NCR region. Today, buyers are also making their shift from normal apartment to luxury apartments where they can experience premium facilities to boost their lifestyle. For instance, leading developers like DLF and Wave Infratech are investing huge amounts in luxury housing projects in the NCR region of Noida and Gurgaon. DLF has already sold 350 flats in luxury housing projects in a price bracket of about 500 crore, at Gurgaon and Wave Infratech is likely to invest 4000 crore to develop integrated township project in Noida.

Apart from luxury housing projects and integrated township projects, Noida in NCR region is also witnessing soaring demand for studio apartments. Therefore developers and realtors are investing in studio apartment segment to obtain good return on interest. These are the factors driving the growth of real estate development in Delhi-NCR region.

3) Bangalore:

Bangalore, the silicon valley of India, is one of the most attractive property destinations in India. The city’s real estate sector experiened stable market situation even during the economic crises that occurred in 2009. The city has huge potential considering the economy and infrastructure, as it is an IT hub and hence, investors are capable enough to make high investment on property, which has transformed Bangalore into robust real estate market of the country.

Moreover, the garden city is witnessing huge growth in luxury housing segment as most of the city buyers are eager to invest in luxury properties rather than usual apartments. Considering the fact of high demand, developers are launching new projects with luxury amenities to satisfy buyer’s need. Also, the city’s real estate segment is one favorite destination for foreign investors and developers are planning their projects accordingly, to meet global living standards to lure buyers.

The demand for housing has also led to the growth of new residential hubs in suburban areas of Bangalore. For instance, the suburban areas which are growing in residential projects at a fast pace are like Bellary Road, Doddaballapur, Hebbal, Yelahanka and also in the surrounding areas of NH-7, among others. However, most of the residential projects are coming under luxury housing categories and some are based on eco-friendly theme as well.

4) Ahmedabad:

Ahmedabad, one of India’s fastest growing cities is now probing to be an ideal city for real estate investments due to good infrastructure and high- income individuals. The city has got huge potential due to strong economy, developers and investors are on the wheels to park their excess funds in the real estate sector.

Good infrastructures are motivating the developers to launch new residential projects in Ahmedabad. For example, most of the developers have launched their residential projects in the city after the development on SG Highway.  These developers are attracting investors by providing good deals and offering affordable property.

The city is receiving integrated township and low-cost housing, as Tata Housing Development Company along with Arvind Group are about to launch 1600 crore integrated township project and 8-12 lakh low-cost housing in the city. According to Tata Housing MD and Chief Executive Officer Brotin Banerjee, "We have partnered with Arvind Real Estate (an Arvind textile group company) to develop 135-acre integrated township in Ahmedabad."

5) Hyderabad:

Hyderabad, the city of Pearls, has been one of the major hubs for IT/ITeS industry, and has observed massive growth in this sector over the past decade. The city’s real estate sector is gaining popularity and developers are launching increasing number of new residential projects and luxury housing projects, which has made this city as one of the favorable realty destination in India.

The city is witnessing huge growth and development due to increased job opportunities. The reason behind the development is because of ongoing infrastructure projects and the advanced facilities which have made Hyderabad the most sought out area of the city for accommodation. Some of the posh residential areas include Alwal, Kapra, L.B. Nagar, Patancheru, Uppal Kalan, Ramachandrapuram, Rajendranagar, Serlingampally, Malkajgiri, and Qutubullapur.

However, the city is observing more real estate activities as the areas have the benefit of being strategically located near IT corridors, good connectivity of roads and availability of space at affordable prices, are the key features that are attracting developers to construct new projects under residential, commercial and retail.

6) Pune:

IT/ITeS companies and luxury housing are driving the growth of Pune real estate market. Pune has become one favorable real estate destination in India as increasing number of residential projects are coming up. Developers are launching new residential projects and luxury housing projects in Pune. The drastic change has come within buyers, who are opting for quality lifestyle and prefer luxury housing.

Furthermore, Pune suburban areas are also witnessing growth in real estate movements where developers are offering affordable housing as well as coming up with luxury residential projects along with quality amenities and add-ons features.

7) Kochi:

Kochi is known for the commercial hub of Kerala is one of the best real estate destinations in India. The realty market has boost up because of growing IT/ITeS Companies and related services.  Commercial properties are in huge demand with the increase of hotels, retail outlets and the growth in IT services that leads to the demand for office spaces.

According to Anuj Nangpal, Director of Investment Advisory of DTZ India, Kochi’s real estate market is mainly dominated by non-resident Indians (NRIs). The city’s realty market is likely to see a major growth in under-development facilities like Vallarpadam international (shipping) container terminal and technology parks become operational.

8) Coimbatore:

The second largest city of Tamil Nadu is mainly flourished due to commercial industries. Coimbatore is mainly driven by the textile industry followed by software services, education and healthcare that leads to the growth in real estate market.

The growth pattern of the city is likely to change because of several planned infrastructure and commercial projects. Nangpal of DTZ cited that “The region currently has two operational SEZs. Five more are expected to become operational over the next three years. The new SEZs will generate employment and bring migrant population. This is expected to boost real estate growth in the city”, reports Business Today.

Himadri Mayank, Senior Manager, research and real estate intelligence service, Jones Lang LaSalle India said that, Coimbatore is known for its industries which have become one of the favorite hot spot for the IT industries.

9) Mohali:

The neighboring city to Chandigarh, Mohali, offers a good scope for real estate market in India. The real estate scenario of the city is optimistic. For instance, Greater Mohali is observing prominent residential development in Landra-Mohali Road area. Adding to it are the Pan India developers like Ansals, Emaar-MGF, DLF and Unitech, who have acquired land to change the look of this area by developing mega and multi-sector residential hubs. The area is in close proximity to places like upcoming international airport and 120-acre townships with IT SEZ, according to ET Bureau.

10) Jaipur:

Jaipur, the pink city, has surprisingly made it to the list; this city is not far behind when it comes to property investments. The city hosts some of the best planned and balanced real estate developments surpassing other Indian cities in residential, commercial and retail segment, according to ET Bureau.

Another contributing factor which has led to the boom of real estate in Jaipur is that the city offers plenty options of land availability on the outskirts to address the limited land availability issues within city limits. Moreover, close proximity to infrastructure and easy connectivity to the adjacent towns of Rajasthan has made Jaipur one of the favorable real estate destinations in India.

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