Investing in real estate is a big deal as it requires huge capital. In a country like India, buying real estate is considered as a safe investment because prices are always expected to go up in future. Whenever people invest in a property, his/her main aim is to consider a location that will yield higher returns in context of the rental yield and capital appreciation. However this is a constant fluctuating market and investor need to be careful about where they are putting their money to ensure future benefits.
Location is a vital consideration when buying a home. An ideal location to buy home is one that offers easy accessibility to amenities and transit. Investing in smart city can be one such ideal option. Buying a house in a smart city requires the minimum investment of Rs. 50 lakhs. Though, it is tough to find one in the metros at this cost, still there are several two tier housing options that allows a person to buy one of their own in a city smart enough to have all the necessary amenities including the proximity to the important places like schools, hospitals, colleges and markets.
The top ten smart cities in India to look for, if you are planning to invest in real estate are:
It is one of the well-known cities in Andhra Pradesh. Not only the city has developed in context of the commercialisation, but it owns one of the biggest harbours of the country. The growth in the IT sector is equally evident. Residential location like Seethamadhara, MVP Colony, Madhurawada, Rishikonda and Packer Layout, Lawson’s Bay Colony are expected to flourish in terms of capital appreciation in the next five years. Gajuwaka, Pendurthi Road and Murli Nagar are also the viable options as far as affordability and smart city concept is concerned.
Being one of the metro cities of the country, Chennai is also the capital city of Tamil Nadu. The place is not prone to speculation because it consists of end-user driven market. Northern part of the city is essentially industrial while the central city is highly developed and has unshakeable residential and commercial markets. The city is welcoming more of financial and IT companies and has excellent infrastructure and road connectivity compared to the other cities of India.
Cuttack and Bhubaneshwar
Cuttack and Bhubaneshwar are among the fastest growing real estate markets in the country. Both the cities have a well-established IT sector and are also far superior compared to the other East-Indian cities in terms of the educational perspective. Kalinga Nagar Industrial complex and Paradip Sez could be among the growth projects that may influence the real estate prices in the future there.
Being the cyber city of India, it is also one of those places of the country that is known for its wonderful climatic conditions. The continuous development of the IT sector has boosted the real estate market of the place and is expected to grow in the same pace even in the coming years.
The capital city of Andhra Pradesh is a growing hub for IT sector and commercialisation. Factors such as great transport links and easy connectivity to the city’s central business have escalated the true value of real estate. Known to have an end-user driven market, Hyderabad is certainly one of the best locations in India to invest in property.
Closeness to Mumbai makes it one of the desired places for the people to invest in real estate market. Apart from the wonderful climate, the place embraces thousands of thriving students and IT professionals every year. The upcoming metro rail project, Bus Rapid Transit System and International Airport project will invite more people to be a part of the residential belt of Pune in the near future.
Being in the Government’s list of top smart cities project, the place has witnessed huge development in several areas. Expansion of the sea port and the privatisation of the International Airport have boosted the prospects of the growth of the real estate market here. Even the IT sector is considering its openings here that makes it a sought after place for several people to settle there.
Being the second largest city of Tamil Nadu, the place is well-known for its spinning and textile industry. The city’s actions have revolutionised from textile to education and other trades also. Even the IT sector is taking a leap here. These instances have brightened the scope for the development of real estate market in Coimbatore.
We all are aware that Ahmedabad is a largest trading hub for Gujarat. Considering the prosperity of the place, the city has attracted young talent from across the country. The unfolding employment opportunities along with the growth driver projects like Metro Rail and GIFT city makes it a worthy place for the home seekers to invest in the property in Ahmedabad.
Indore is famous for educational hubs like IIM and IIT. It is one of the best known places in India that is developing fast. The city has excess land and the prices are more driven by the demand of the investors. As the city has a powerful auto industry presence, the upcoming luxury housing projects here are also at its peak. An investor in Indore can avail a property in as less as Rs.15 lakhs, making is one of the liked places for real estate industry to flourish.
As a customer it is important to deal with well-known and established developer who can offer all the key criteria you are looking in an ideal home such as surroundings, facilities, accessibility etc. Not to forget, the biggest advantage of dealing with reputed builder is surety of timely possession and complete paperwork. Many are also offering ready to move in flats and luxury flats so that customer have minimal fuss when moving. Go ahead, buying a flat in above given locations that are bound to see an increasing trend in near future.