India’s Top 6 Cities for Property Investment - Part I

Written By: Sanya Duggal

For the last few months, we’ve been reading over and over again that the property prices fell in 2013, overall investment reduced significantly, inventory increased considerably, the number of new launches reduced, and the real estate market witnessed a major slowdown. However, there is a flip side to it. If we look at it from a different perspective, we’ll realise that it’s actually the best time to invest.

Experts have predicted that the market will remain subdued till the elections and will improve thereafter. This implies that if one makes an investment today, he can have a good capital appreciation by the end of this year.

So here’s a pick of the best cities in India for investment in affordable residential properties-

Pune: The price trends in Pune show a positive inclination. Creation of more employment opportunities, growth of the IT/ITeS sectors, and a good existing infrastructure are the key elements driving Pune’s realty market. The most promising locations in Pune are Hinjewadi, Tathawade, Wakad, and Ravet.

Wakad is a fast growing residential locality, and lies in proximity to the Rajiv Gandhi Infotech Park. Four kilometres from Wakad, is Tathawade, another upcoming locality. Hinjewadi is known as the IT Village of Pune, and is what is propelling its realty growth. Benefiting from its proximity to Hinjewadi is Ravet, which is situated on the eastern portion of the Mumbai-Pune Bypass road.

Chennai: Chennai has developed considerably in the last decade. According to a market study, two of Chennai’s prominent localities - Pallikarnai and Medavakkam will witness price escalation of about 93 percent and 103 percent respectively, within the next 5 years.

Medavakkam lies in the general vicinity of the Chennai airport and is a popular residential locality. Pallikaranai is already considered to be an employee residential location. Its popularity is expected to increase with the upcoming Vandalur-Velachery Monorail Project.

Click here to read Part II of this series.