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The Indian real estate industry is on the verge of a turn around with investments expected to boom in 2016. The sector, which has been sluggish growth in the last few years, will witness a change, driven by low prices, abundant real estate projects and reduced interest rates.
The Indian government has launched the 100 'smart cities' and 'Housing for everyone by 2022' massive urbanization projects, and has allocated over Rs 3 lakh crores which will be spent over the next 5 years for the projects implementation. The Indian government has also announced many FDI reforms this year which will further boost investor confidence in the real estate sector. Despite a significant slowdown in the real estate market in the last couple of years, the launch prices of new projects have continued to rise.
Bangalore, the Silicon Valley of India is witnessing an increase in consumer demand with many new areas emerging as prime investment opportunities. Bangalore is the only city which has seen a positive growth in its absorption numbers in the last two years. Properties on the southern and the northern periphery of the city, including Whitefield, Panathur, Electronic City Phase 1 and Bannerghatta Road, which provide good connectivity as well as affordable prices will see a further increase in prices in 2016 as well. Bangalore was the only city in India, where market size grew compared to 2014.
IT Hub Pune which is known for its good infrastructure has seen an increase in the real estate development. Vishrantwadi, Kharadi, Baner, Bavdhan, Kalyani Nagar and New Airport Road in Viman Nagar in Pune have been identified as potential locations which will observe over 50 percent returns in the next couple of years. Viman Nagar particularly due to its close proximity to the airport, railway station and office spaces is expected to witness a 60 % increase in real estate prices in the coming years.
Ghaziabad with its direct link to New Delhi and location which is right on the highway has emerged as one of the cities which will exhibit great returns in the next few years. Ghaziabad has seen an increase in infrastructure developments and with the widening of the NH24 Highway; the prospects in the region have increased significantly.
So what are you waiting for? If you are looking for the right time to invest; 2016 is the year where entering the real estate market will give manifold returns!
Hyderabad which is becoming a technical hub of India is one of the most promising real estate markets in India. The launch of the start-up hub in 2015 in the city will give a further boost to the infrastructure with many companies expected to set up their offices in Hyderabad over the next year. Experts believe that it is the best time to invest in Hyderabad due to the abundance of residential developments and excellent infrastructure, which is half the price of the metros like Delhi and Mumbai.
Mumbai including Thane and Navi Mumbai is one of the best places for investments. Thane has emerged as of the most attractive regions for investment in the Mumbai Metropolitan Region due to the establishment of new infrastructure as well as the proposed extension of Mumbai metro which will provide good connectivity. Thane West offers good connectivity and proximity to important commercial and industrial hubs in the region. Thane has shown better absorption levels compared to other cities.
Areas around Kalyan and Dombivli which have been selected under the 'smart cities' project, the prices of commercial as well as residential property will go up in the areas over the next few years. Mumbai Metropolitan Region's Madh-Marve and Ulwe are touted as the top residential investment destinations in India, expecting a price appreciation of 94% and 70% by 2020, respectively.
Real Estate in Chennai is expected to witness huge gains in the coming years. Investments in properties around Adayar which is in the southern part of the city are expected to give huge returns. The city is expected to witness a windfall in the real estate market and has been touted as a better investment location than Mumbai.
Golf Course Extension Road and New Gurgaon have emerged as potential destinations for residential investment. The 150 meter wide Dwarka Expressway, which will improve connectivity between Gurgaon and Delhi is an excellent investment in both Residential and commercial real estate. The projects in this area will have easy access to Delhi and the Metro Corridor; and will enjoy excellent returns in a short span of time. New Gurgaon is expected to see a price appreciation of 47%, followed by Golf Course Extension Road in Gurgaon at 42% by 2020.
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