If you are looking for ideas to invest in, real estate can be an excellent investment as you can get benefits throughout your life. In 2022 the interest rate is very low on the property, and many banks offer loans at 7- 8% interest.
Real Estate investment has its risks but it has a lot of benefits too. Indeed, people often decide to believe in benefits over risks. No matter how much research you do, you need to give ample time when it comes to researching the best cities that are worth investing in. To make the process easier for you, we have dedicated this whole article to discuss the best cities to invest in real estate in India in 2022.
These cities have been carefully picked by keeping in mind certain parameters as per buyers’ choices.
Real Estate Investment In India
Noida is becoming a centre for numerous multinational companies and with close immediacy to the capital city, Delhi it will soon become a megalopolis in the coming days. A new airport in Jewar is also coming up in Noida will fuel its growth and eventually the sale of projects there will increase. Being situated in the green belt, Noida offers an affordable lifestyle to the residents if you compare it to Delhi or Gurgaon. Therefore, Noida has the potential to give better ROIs on properties in noida the upcoming years.
Average Cost of 2BHK: Rs 40 Lakhs
Average Rent of 2BHK: Rs 15,000 per month
Educational Institutions: Institute of Management Studies, Birla Institue of Management Technology, Noida International University, etc
Hospitals: Kailash Hospital, Felix Hospital, Surbhi Hospital, etc
Employment: Textile, MNCs, Manufacturing Companies, etc
- In 2021, Delhi Development Authority has announced a housing scheme that will result in the construction of over 1300 flats.
- The Delhi Government has also reduced stamp duty charges.
Mumbai is one of Asia’s most populated cities, with around 22 million people from across the world. During the first quarter of 2021, property registrations rose by 70%, increasing the overall real estate sales by 49% making it one of the most expensive and perfect cities to invest in. Factors such as the multiple metro links, Mumbai Trans Harbour Link, etc. have also attracted investors to invest in real estate in Mumbai. Mumbai and its suburbs have ample of opportunities to offer the best returns on real estate investment, from sea-facing lavish apartments to duplex homes to budget apartments. South Mumbai, South Central Mumbai, and Western Suburbs are the most expensive locations in Mumbai.
Average Cost of 2BHK: Rs 55 Lakhs
Average Rent of 2BHK: Rs 25,000 per month
Educational Institutions: St Xavier College, D G Ruparel College of Arts, IIT Bombay, K J Somaiya College of Arts, Mumbai University, etc
Hospitals: Wockhardt Hospitals, SevenHills Hospital, Nanavati Hospital, etc
Employment Hubs: Textile, Pharmacy, Electronics, Entertainment, Manufacturing Companies, MNCs, etc
- An initiative called Jal Jeevan Mission has enhanced the quality of water supply in 4400 urban local bodies.
Pune is one of the fastest-growing smart cities in India. It is always at the top of the list of the most livable cities in India. Pune is also known as the “Oxford of the East” as it has more than 811 colleges and universities which has always been attracting students around the country. Real estate investment in this city has increased in recent years and is still going on. The best thing about this city is that you will effortlessly find perfect residential projects on the outskirts of the city such as Kharadi, Hinjawadi, Pimpri, Wakad, Baner, and other areas. Therefore, Pune has the potential to give better ROIs on properties in the future.
Average Cost of 2BHK: Rs 35 Lakhs
Average Rent of 2BHK: Rs 18,000 per month
Educational Institutions: Savitribai Phule University, Symbiosis Institute of Media and Communication, Dr D Y Patil Vidyapeeth, etc.
Hospitals: Aditya Birla Hospital, Jehangir Hospital, KEM (King Edward Memorial) Hospital, etc
Employment Hubs: IT Companies, Banking, Finance Services, Manufacturing Sector, MNCs, etc
- PMAY (Pimpri Chinchwad Town Development Authority) is launched to construct 6000 inexpensive flats for the city’s population. So far, 4884 units have been distributed to PMAY recipients.
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Banglore is the largest city in Karnataka and it is also one of the fastest-growing cities in the country. There has been a rapid expansion of the IT Industry in Bangalore and hence the city is also known as the IT Hub of India. Young professionals from all across the country make their way to Bangalore in pursuit of job opportunities. This influx of people has also made Bangalore a multi-cultural, metropolitan city which has further made the city one of the top spots for commercial as well residential investments. Indira Nagar, Lavelle Road, Koramangala, MG Road, etc are some of the places where you can invest in properties in Bangalore.
Average Cost of 2BHK: Rs 60 Lakhs
Average Rent of 2BHK: Rs 25,000 per month
Educational Institutions: National Law School of India, NIFT, IIM, St Johns Medical College, etc
Hospitals: Manipal Hospital, Fortis Hospital, Hebbal, etc
Employment Hubs: Manufacturing Industries, IT Sector, Automotive Firms, MNCs, etc
- The Karnataka Planning Authorities Rules, 2020 have been amended to lower the improvement cost from 0.5-1.5% to 0.2-0.5% to reduce the burden on buyers.
Kolkata has the biggest market in Eastern India and real estate investment in the city reported an 11% growth in last year’s September quarter. In terms of real estate investment, corresponded to other metro cities such as Mumbai or New Delhi, Kolkata has always been a safe option. Kolkata also offers an affordable range of housing to all classes of people and high ROI. Baruipur, Behala, Barasat, Joka, Garia, Sonarpur, Rajarhat, New town, Madhyamgram, and Howrah have become prime hotspots for expansions of real estate properties in Kolkata.
Average Cost of 2BHK: Rs 25 Lakhs
Average Rent of 2BHK: Rs 10,000 per month
Educational Institutions: West Bengal National University of Juridical Sciences, NIFT, IIM, University of Calcutta, Presidency University, etc
Hospitals: Medical Superspecialty Hospital, Apollo Gleneagles Hospital, etc
Employment Hubs: Manufacturing Companies, Agro-industries, Real Estate Sector, etc
State Policies: The state government has implemented a 60% remission on the interest on property tax dues.
© Ruchie Verma.
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