Top 5 cities for investing in affordable properties in India
The prime cities in the nation are currently witnessing the highest housing demand. There are various factors responsible for this, such as pursuing better job opportunities or higher living standards or better infrastructure. Unfortunately, there is a flip side to this urbanization, which has given rise to issues pertaining to pollution, population, and traffic among other things. Moreover, the ‘Housing for all by 2022’ initiative by the government proposes to provide housing at an affordable price. This reform movement primarily encompasses cities that are close to the busy city. Mentioned below are some of the prominent cities in the nation that are capable of offering affordable housing properties.
The city of Pune is ranked as the leading market in the real estate sector. The city has seen a steady growth rate in the market for the past few years. The combination of services and manufacturing industries has made the city a powerhouse in all aspects. Though the real estate scenario in Pune was heading towards luxury properties, the trend is now changing where multiple real estate players are entering the affordable housing segment.
- Navi Mumbai, Maharashtra :
There has been a good deal of development in Navi Mumbai, which has lead to an impressive growth in the real estate in the past couple of years. The prospect of an International Airport in Navi Mumbai has increased the potential in the area. Navi Mumbai is providing a relief from unaffordable housing properties that fall under the budget of Rs. 30-50 lakhs.
Caught between political turmoil and global recession, Hyderabad’s real estate sector was down under until recently. Now, things are looking for the city with its persistent workforce and growing economy. The city is once again trending in the market with its ever growing demand for residential, retail, and commercial properties
Surat has gained prominence for a number of reasons. From being the diamond capital of the world to being named the ‘Best Urban City of India’ along with INYACH announcing Surat as the Cleanest City in India, which have all boosted the real estate sector. Improved infrastructure has made Surat one of the best places to invest in the real estate.
With the MIHAN and SEZ projects, the city of Nagpur seems to be gaining momentum in the real estate sector. There are upcoming IT parks along with the well established MIDC corridor, which has led to real estate investors to show a great deal of interest in Nagpur.Besides the above-mentioned cities, there are other cities that are trending in the real estate market. Jaipur, Kochi, Coimbatore, Ahmedabad, and Ghaziabad are cities that are emerging as sub markets, which are offering affordable housing properties....