By Mr Ankit Kansal, Founder & MD, 360 Realtors
During 2015-2017, Indian housing Industry suffered from the prolonged slowdown, which was further plagued by arduous policy makeovers such as GST, RERA & Demonetization. The period was also marked by drying of investment activities, as the market has been run mostly by end users. In 2018, as uncertainties around the regulatory reforms started to settle, Indian Real Estate started to gain steam. The revival in the market was marked by rising in transaction activities all across India.
On the back of the market gaining momentum, investors have also started to return back to Real Estate, albeit the rate of influx is moderate. Amidst such evolving dynamics, at 360 Realtors we have made a list of top-10 destinations across the latitude & altitude of the country that can ensure maximum ROI for the buyers. The list has been compiled following rigorous research comprising of market potential, price trends, infrastructure growth, demand growth, new supplies, etc.
- Whitefield– The growth of Whitefield has been synonymous to the emergence of Bengaluru as the Silicon Valley of India. The micro market is home 400+ IT companies, employing a workforce of around 300,000. Average property prices have moved up in Whitefield by 1% Q-o-Q. A robust employment base will continue to feed demand in Whitefield.
- Borivali– Located on the North-Western parts of the Mumbai region, Borivali is slowly transforming into an IT hub from an industrial zone. It is well connected to numerous parts of Mumbai through the Western & Eastern expressway. On the back of numerous infrastructure developments by the government & a healthy job market, average property prices have moved up by 2.3% Q-o-Q. As work is going on the metro corridor, prices will further rise in Borivali.
- Mulund: Located in the Central suburb of Mumbai, Mulund is a thriving residential, retail & commercial location. It is also located with lots of greeneries & natural beauties, thereby further adding to the quality of life in the region. Over the years, as sought after residential destination, Mulund is also popularly known as the “Prince of Suburbs” in Mumbai. Average property prices have surged by 1.8% Q-o-Q. In the times ahead with a host of 1, 2 & 3 BHK options, Mulund will continue to grow.
- Thane: As a satellite town of Mumbai, the residential market in Thane will continue to gain momentum on the back of affordable prices, soaring job market & convenient connectivity to other parts of the Mumbai Metropolitan Region (MMR). Prices have moved up around 2.7% Q-o-Q in Thane on the back of heightened demand. The government has also pledged INR 41,000 Crore package for Thane, which will further fuel the residential market in Thane.
- Gachibowli– Over the past 12 months, Gachibowli has showcased a monumental growth as a real estate market. Prices have moved by around 3.3% Q-o-Q, becoming one of the fastest growing destinations in India. The growth in Gachibowli has been fuelled by a robust IT/ ITeS industry. Its proximity to HITEC city, another major commercial destination in Hyderabad, has been a force multiplier. The prices are further poise to grow as Gachibowli will be soon connected to the metro corridor.
- Dwarka Expressway- The 28 KM long stretch that connects Gurugram with New Delhi is becoming one of the most popular upcoming locations in the Delhi-NCR region. Average housing prices have moved up by over 2% on a quarterly basis. As litigation around a 150-meter patch has been cleared recently, the ascending tendencies amongst property prices will further unravel in the times ahead. As a highly promising catchment, most of the major developers in the country such as Raheja, Adani, Emaar, Godrej & Vatika etc. have made major launches in the Dwarka Expressway. A second diplomatic conclave has also been proposed in the region.
- Noida Expressway- The 23 KM long stretch that starts from Delhi & passes through Noida & Greater Noida has witnessed a notable rise in Real Estate activities in recent times. Although prices are marginally up by 0.5% on a Q-o-Q basis, it is expected to accelerate fast in the times ahead. After the opening of Noida Special Economic Zone (NSEZ), numerous manufacturing companies are pivoting to the region thereby resulting in growth in demand for quality housing. In the near future, the region will also benefit from the metro project (Aqua line) and Jewar Airport.
- Wagholi- Located on the eastern corridor of Pune, Wagholi has come strength to strength in recent years, as IT parks & business hubs have mushroomed all around the corridor. Prices have inched up by around 1% Q-o-Q & are expected to rise further in the near future. As properties are still very affordable in Wagholi, an uptrend will continue in the years ahead.
- Hinjewadi – As Hinjewadi has emerged as one of the largest IT catchments in Asia, its property market has also received a massive upward thrust. Once a rural area, Hinjewadi is now an urban hotbed with quality commercial, retail, educational & healthcare facilities. On the back of high demand from the IT workforce, average property prices have risen by 2.1% Q-o-Q. Hinjewadi is conveniently linked to upcoming automobile hubs such as Talegaon & Chakan.
- Porur: This Chennai based suburb is the only micro-market that has featured in our list despite a dip in the prices. Average property price in Porur has eased out by around 1% Q-o-Q due to high inventory. However, as a thriving IT & automobile industry hub, Porur & its nearby region are expected to see a notable price growth to the tune to 4-6% in the next 12-15 months. Around 200,000 people are employed in Porur & places close to it. This is one of the reasons; there has been a flurry of new launches in Porur in recent months to capitalize on the market potential.
Corporate Comm India(CCI Newswire)