The best cities for NRIs to invest in real estate
Website design By BotEap.comNRIs often hear stories about investors hitting the jackpot by buying and selling home properties. Quite often, they also hear about someone who has lost money on a project that never materialized or had problems that made the property impossible to sell.
Website design By BotEap.comEager to pocket a piece of the pie, the NRI begins researching how to invest in the Indian market from abroad and in which city to start with, only to be lost to conflicting sources.
Website design By BotEap.comIt is a fact that the Indian economy is expanding rapidly; in fact, the World Bank projects that India will overtake China as the world’s fastest growing major economy by 2017. For those looking to become real estate investors who want to participate in India’s growth, choosing which part of the country to buy can be difficult. a challenge. After all, the economy may be making great strides nationally, but what forces are at work locally? Put another way, which city or cities can promise the highest returns?
Website design By BotEap.comWe have compiled a list of the best cities for real estate investment. Some of these are large subways, known to be the centers of many industries. Others are smaller, nearby cities that show a lot of promise in their population growth rates and per capita income, among other factors. Read on to identify which city may be the best to invest in real estate.
Website design By BotEap.com1. Bengaluru
Website design By BotEap.comThanks to its combination of a rapidly growing population, well-paying jobs and low property prices, the center of India’s IT industry has also become the center of its real estate investment. JLL recently published its annual ranking of the world’s most dynamic cities, in its City Momentum Index, stating that Bangalore is the fastest changing city on the planet.
Website design By BotEap.comBy some estimates, 40 percent of India’s IT industry is based in this metropolis. These changes have made it the most attractive place in India for real estate investment. A recent survey ranked Bangalore as the top real estate opportunity in Asia-Pacific.
Website design By BotEap.comAll this makes Bangalore the most desirable place for real estate investment in India.
Website design By BotEap.com2. Fist
Website design By BotEap.comPune has shown rapid population growth over the last decade with a growth rate of over 30% during this period. The average white collar salary in this city is second only to Bangalore. Currently, property in this city is affordable compared to other cities, which shows that it is a good time to invest.
Website design By BotEap.comThe city also benefits from being close to Mumbai. You also have opportunities in the education, IT, automotive and engineering sectors. This is yet another example of a previously slow city that has seen rapid recent growth and change.
Website design By BotEap.comThe good weather throughout the year is an added benefit for NRI investors here. A new international airport and increased metro connectivity will bring even more growth and positive change to the city in the coming years.
Website design By BotEap.com3.Chennai
Website design By BotEap.comHead to the capital of Tamil Nadu for even more real estate investment opportunities. Chennai is also in the leading pack, with a high population growth rate (30%) and reasonably high average salaries for white-collar workers. This industrial city also has many companies that offer IT and financial services.
Website design By BotEap.comThe government has made road connectivity a priority here in recent years. This has helped the city and its surroundings develop faster and attract new business opportunities.
Website design By BotEap.comAn upcoming monorail and elevated rail line is sure to further help with this connectivity.
Website design By BotEap.com4. Visakhapatnam
Website design By BotEap.comIn terms of population and area, Visakhapatnam (Vizag) is one of the largest ports in India. Due to this, it is considered the commercial center of Andhra Pradesh.
Website design By BotEap.comA rapidly growing IT industry coupled with good infrastructure make this city a desirable location for real estate investments.
Website design By BotEap.comWith the completion of the first phase of the Vizag Metro Rail scheduled for December 2018, transportation options will soon open up in this city.
Website design By BotEap.com5 Mumbai
Website design By BotEap.comAs a growing city with modern urban development, Mumbai is a good property investment option for a non-resident Indian who cares about lifestyle.
Website design By BotEap.comConsidered the financial capital of India, this city is hard to beat when comparing the level of infrastructure with other cities. Aim for a premium property in an exclusive neighborhood to get the best return on your investment. There are several luxury hotspots in Mumbai that put you close to high-end retail stores and restaurants.
Website design By BotEap.comAs the financial center of India, Mumbai also attracts many investors and corporate companies, bringing many job opportunities. If you want an internationally competitive work culture, this is the city.
Website design By BotEap.comMumbai has excellent educational facilities, including international schools. Political stability and easy resale options are additional incentives to make Mumbai your real estate investment spot.
Website design By BotEap.com6. Bhiwadi
Website design By BotEap.comAs the third largest industrial center in India, Bhiwadi is a manufacturing hub for some major companies. Companies like Gillette and Honda secure many local job opportunities.
Website design By BotEap.comReal estate projects are also cheaper here than in other cities. Affordability right now makes this a great long-term investment real estate option.
Website design By BotEap.comThe Indian government has proposed projects in Bhiwadi, including new high-speed public transport. This will make this city even more desirable for years to come.
Website design By BotEap.com7. Pig
Website design By BotEap.comKochi, the commercial hub of Kerala, has seen new real estate prospects thanks to recent changes.
Website design By BotEap.comAn upgrade of the seaport and the privatization of the local international airport brought new business prospects.
Website design By BotEap.comMany NRIs are already investing in Kochi. In fact, only about 30% of real estate investors in Kochi are local.
Website design By BotEap.comPart of what makes this city so attractive is its recent development in infrastructure. Planned new developments include the Vallarpadam International Container Transshipment Terminal, which will expand investment opportunities for this port city.
Website design By BotEap.comAn “oceanarium,” or marine research facility that doubles as a tourist attraction, is another proposed project that is sure to bring even more opportunities to the area.
Website design By BotEap.com8. Bhubaneswar and Cuttack
Website design By BotEap.comThese twin cities in eastern India are growing IT and educational hubs. This drives real estate development in the area.
Website design By BotEap.comThe real estate market is well regulated here, as most of the available land is still owned by the government.
Website design By BotEap.comPlans for new commercial projects, a wider highway and the new Kalinga Nagar Industrial Complex add to the reasons to target Bhubaneswar and Cuttack for real estate investment.
Website design By BotEap.com9. Coimbatore
Website design By BotEap.comThe second largest city in Tamil Nadu has a stable industry that revolves around textiles and spinning.
Website design By BotEap.comEngineering, IT, and manufacturing have added to the industry in Coimbatore in recent years, providing economic growth and increased job opportunities.
Website design By BotEap.comA planned expansion of the airport will increase the ease with which travelers and business opportunities can reach the city. And a proposed bus rapid transit system provides additional options for ground transportation.
Website design By BotEap.comconclusion
Website design By BotEap.comThere is a long list of cities in India that are great opportunities for property investment.
Website design By BotEap.comYou can choose an established major hub like Bangalore, or a newer, growing location like Kochi. It all depends on exactly what your future plans are for your investment.
Website design By BotEap.comWith so many cities experiencing rapid development and offering new opportunities, it’s hard to go wrong when you consider the key factors in selecting the preferred cities for real estate investments.
Website design By BotEap.comDon’t be intimidated by the real estate investment process. Instead, take advantage of the benefits that the next few years will have for real estate investments in India and ride the wave of economic growth in India.
Website design By BotEap.comHave you invested in any of these cities? Share your experience with us in the comments section below!