Mumbai, the financial hub of India is one of the hottest property destinations in Indian real estate market. The city promises major infrastructure growth and development which has led to the real estate development in residential and commercial segment.
Moreover, the city is witnessing residential and commercial growth in suburban areas. For instance, the Vasai-Virar region in western suburb of the city is famous for budget housing, the area near Panvel, where the developers have launched integrated township projects as the region is close proximity to infrastructure like upcoming international airport, the Trans-Harbour Link, railway station and mono rail, according to ET Bureau.
Also, developers are looking forward to boost the lifestyle in Mumbai, which is now flourishing in residential sector. Therefore, developers are introducing more integrated township projects and luxury housing projects in the city considering buyers’ need, which has shifted from traditional to quality lifestyle. These are the factors driving the growth of real estate in Mumbai making it one of the top real estate destination in India.
National capital region (NCR) is another top property destination in India, when it comes to real estate. The NCR is renowned for business, politics and fast growing infrastructure, which are driving the real estate growth in residential and commercial segment.
Today high-tech townships are the new buzz word among real estate developers and NCR boasts of having such townships like Wave city and Sushant Megapolis, which is in close proximity to Ghaziabad and Greater Noida.
Moreover, developers are coming up with more luxury housing projects in NCR region. Today, buyers are also making their shift from normal apartment to luxury apartments where they can experience premium facilities to boost their lifestyle. For instance, leading developers like DLF and Wave Infratech are investing huge amounts in luxury housing projects in the NCR region of Noida and Gurgaon. DLF has already sold 350 flats in luxury housing projects in a price bracket of about 500 crore, at Gurgaon and Wave Infratech is likely to invest 4000 crore to develop integrated township project in Noida.
Apart from luxury housing projects and integrated township projects, Noida in NCR region is also witnessing soaring demand for studio apartments. Therefore developers and realtors are investing in studio apartment segment to obtain good return on interest. These are the factors driving the growth of real estate development in Delhi-NCR region.
Bangalore, the silicon valley of India, is one of the most attractive property destinations in India. The city’s real estate sector experiened stable market situation even during the economic crises that occurred in 2009. The city has huge potential considering the economy and infrastructure, as it is an IT hub and hence, investors are capable enough to make high investment on property, which has transformed Bangalore into robust real estate market of the country.
Moreover, the garden city is witnessing huge growth in luxury housing segment as most of the city buyers are eager to invest in luxury properties rather than usual apartments. Considering the fact of high demand, developers are launching new projects with luxury amenities to satisfy buyer’s need. Also, the city’s real estate segment is one favorite destination for foreign investors and developers are planning their projects accordingly, to meet global living standards to lure buyers.
The demand for housing has also led to the growth of new residential hubs in suburban areas of Bangalore. For instance, the suburban areas which are growing in residential projects at a fast pace are like Bellary Road, Doddaballapur, Hebbal, Yelahanka and also in the surrounding areas of NH-7, among others. However, most of the residential projects are coming under luxury housing categories and some are based on eco-friendly theme as well.
Hyderabad, the city of Pearls, has been one of the major hubs for IT/ITeS industry, and has observed massive growth in this sector over the past decade. The city’s real estate sector is gaining popularity and developers are launching increasing number of new residential projects and luxury housing projects, which has made this city as one of the favorable realty destination in India.
The city is witnessing huge growth and development due to increased job opportunities. The reason behind the development is because of ongoing infrastructure projects and the advanced facilities which have made Hyderabad the most sought out area of the city for accommodation. Some of the posh residential areas include Alwal, Kapra, L.B. Nagar, Patancheru, Uppal Kalan, Ramachandrapuram, Rajendranagar, Serlingampally, Malkajgiri, and Qutubullapur.
However, the city is observing more real estate activities as the areas have the benefit of being strategically located near IT corridors, good connectivity of roads and availability of space at affordable prices, are the key features that are attracting developers to construct new projects under residential, commercial and retail.
IT/ITeS companies and luxury housing are driving the growth of Pune real estate market. Pune has become one favorable real estate destination in India as increasing number of residential projects are coming up. Developers are launching new residential projects and luxury housing projects in Pune. The drastic change has come within buyers, who are opting for quality lifestyle and prefer luxury housing.
Furthermore, Pune suburban areas are also witnessing growth in real estate movements where developers are offering affordable housing as well as coming up with luxury residential projects along with quality amenities and add-ons features.