Property The first choice of investors is the property markets of Delhi-NCR, Mumbai, Kolkata, Bangalore and Goa. The reason for this is that there is a tremendous demand for property in these cities, due to which the price has increased rapidly. However, now the price of property in these cities has reached a record high. If we talk about Noida, Gurugram, Greater Noida, Mumbai Metro Region and Bangalore, then the price of flats has doubled in the last three years. Realty experts say that there is no possibility of a sharp increase in property prices in the cities in the coming time. In such a situation, if you want to invest in property, then it would be better to turn to new realty pockets. We are telling you in which cities you should invest in property, from where bumper returns are expected.
These 17 cities will become new realty hubs
As India moves towards becoming the world’s third largest economy, cities are set to play a key role in the country’s development. It is estimated that by 2050, in addition to the existing eight mega-cities, about 100 Indian cities will have a population of more than one million. Among these cities, some cities have emerged which will emerge as new property hubs. According to a report by Colliers India, Amritsar, Ayodhya, Jaipur, Kanpur, Lucknow and Varanasi in the north, Patna and Puri in the east, Dwarka, Nagpur, Shirdi, Surat in the west, and Coimbatore, Kochi, Tirupati, Visakhapatnam and Indore in the south will become new realty hubs. Investors will get bumper returns on investing in property in these cities.
Due to this the demand for property will increase
According to a Colliers India report, demand for properties such as office space, warehousing, tourism, residential is expected to grow rapidly in these cities and will play a key role in India’s economic growth. Infrastructure development remains a key driver for real estate growth across India. According to the report, improved connectivity and increased manufacturing development driven by initiatives such as the National Infrastructure Pipeline (NIP) and PM Gatishakti are expected to expand growth beyond Tier I cities, particularly boosting warehousing and residential properties.
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