The real estate sector of India has undergone tremendous changes in the last couple of years. The general trend of the real estate sector was going downward and it needed impetus in the form of government intervention to get it back up to where it was in its glory days.
The new government in India has been advertising its campaign of “Housing for All by 2022” very aggressively, which is driven by the Prime Minister’s vision to ensure that everyone in India can afford a house for themselves. It is, therefore, very important to know which cities are coming up with affordable housing schemes and invest your money accordingly.
We take a look below about the top 3 cities in India where one can buy apartment:
1. Hyderabad, Telangana
When you think to buy flat in India, the first answer that you might receive is – Hyderabad. 34 cities in Telangana have got a nod of approval from the government to go ahead with building affordable flats that are optimal for Low to Medium Income Groups. Hyderabad with its flourishing economy and impressive infrastructure, coupled with a dynamic workforce that is young and educated is one of the cities that will be ideal to invest in. The booming IT industry of Hyderabad has fueled the growth in demand of residential and commercial spaces in the city. Well-equipped houses in localities like Manikonda and Kukatpally that fall within the budget of 30-35 lakhs makes Hyderabad one of the most affordable of all the Tier 1 cities in India.
2. Jaipur, Rajasthan
The state of Rajasthan was allotted a total of 40 cities/towns that got the directions from the central government to launch affordable houses. Jaipur is a city that is developing in leaps and bounds and is fueled by a number of significant growth drivers. The city has progressed and has a good demand for residential as well as retail spaces and is touted as one of the most important real estate destination in the Northern part of India. Localities like Malviya Nagar and Tonk Road are the most sought after destinations in the city. Jaipur promises a yearly capital appreciation to the extent of almost 17% annually and hence holds great significance for good returns in investments if you opt to buy apartment.
3. Surat, Gujarat
Gujarat is the fastest growing state in India currently and most of this growth is fueled by rapid urbanization of its cities along with improvement in infrastructure and removal of the culture of red-tapes which helps in facilitating the building of competitive and bustling markets. Even though Surat is not as heavily populated as Ahmedabad, the great strides that the government had made in improving the infrastructure of the city by building wide roads and flyovers will help generate great investment opportunities for the future. Surat is bound to play a very important role in the real estate industry of India and investing in real estate, whether residential or commercial, at this moment is a great move strategically. So when you want to buy flats this makes it a definite answer to your all the queries.
About the author: Anisha Ambrose writes about property and real estate in India. She has worked at the NeedaProperty.in company for one year as a marketing manager. She likes to share her experience with those who are interested in property market! Waiting for your reply!