Indian real estate is one of the rapidly flourishing sectors as the number of developers, buyers and investors keep multiplying. The appreciation in prices has become a regular phenomenon with the constantly growing supply deficit owing to the huge demand for property. Indian realty is following a wholesome approach with all cities- metros and tier-II, III & IV- towns and suburbs developing in full swing.
The most preferred affordable realty sector usually is the smaller or tier- II & III cities. In wake of the sky rocketing prices of property in Delhi, Mumbai and other metro cities, the realty sector in other potential cities is booming at its best. As a result, the concept of affordable housing with advanced amenities amidst luxurious surroundings won attention of many. But despite the immense popularity of housing at cost effective prices, buyers and investors still prefer to buy houses in Delhi and Mumbai. While investors look forward to invest in metro cities for their highly exponential returns, buyers want to live in the most happening cities of the country. Let us take a look at the booming property market in Delhi, Mumbai and Bangalore in detail, one by one.
Delhi, the hottest realty destination in India:
Delhi, the national capital, presents one of the most diverse cultures and lifestyles in the country. Being the center of all economic and political activities of the nation, the city is always bustling with new developments. Real estate in Delhi is among the most preferred as it offers all kinds of options i.e. caters to needs of all classes. If on one hand it has luxury premium housing in South Delhi, then affordable flats and apartments in the developing East Delhi on the other. If it has high class swanky malls, then it also has world renowned street markets like Janpath and Sarojini Nagar (SN). If Central Delhi is the commercial hub, then West Delhi is an ideal destination for residential property seekers. Not only is the city growing but its peripheral areas have also come across as a huge support for meeting the continuously expanding property demands. Apparently, Noida and Gurgaon have been the stalwart for the commercial sector of Delhi as honchos in various fields moved there. Delhi property seems to follow serve-all which is what makes it such a lucrative realty destination.
Mumbai, nation’s favorite property investment hub:
The financial and the entertainment capital of the country is the richest in India. Even though it serves the bigwigs of corporate and glamour industries, it is home to working or middle class as well. According to JLLM (Jones Lang LaSalle Meghraj), a leading property consultant as well as Knight Frank, an international real estate consultancy, Mumbai property market holds huge potential in residential as well as commercial property sectors. The upcoming luxury housing projects by leading realty developers reinforce the revival of city’s economy. Buyers and investors are taking interest in property market thereby encouraging developers to launch more and more realty projects- residential, commercial and retail.
Bangalore, an investment hub in South India:
The popular Garden city or the technology center of the country is certainly among the most sought after realty centers in the country. Both as a commercial and residential destination, Bangalore real estate is seen as a lucrative avenue. A recent study by Cushman & Wakefield (C & W), the global real estate research firm confirmed Bangalore’s position in top 3 investment cities particularly in residential and hospitality sectors.
The prevalent realty trends may emphasize on growing property markets in upcoming cities but property in Delhi, Mumbai and Bangalore still score highest in the preference meter.
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