Real estate investment is all about identifying the right opportunity at the right time. Locations that see massive investment in infrastructure and industrialization are more likely to see rapid growth in the real estate sector. Here are four of the most promising cities in India for the year 2013, in terms of real estate potential.
Ahmedabad, which has been among the fastest growing cities for years, is currently witnessing a construction boom and population explosion. The city has seen significant economic growth because of Tata Motor’s small-car project, and this has boosted real estate prices in and around Sanand.
Ahmedabad has many premium and developing areas, and a significant number of high-income individuals. Despite rising prices of houses, properties are relatively affordable in the city, and land is also available at comparatively low rates.
Ahmedabad-Surat-Vadodara is a rapidly expanding metropolitan cluster, with Ahmedabad being the largest among the three. Close proximity to these heavily industrialized cities makes Ahmedabad a hotspot for real estate growth, especially with landmark projects such as the Gujarat International Financial Tec-City, and the Delhi-Mumbai Industrial Corridor (DMIC)
Kochi is an important port city, and is considered as the commercial capital of Kerala. It is also emerging as an important center for information technology and other related services.
Tourism and trading in spices are the backbone of the local economy, but the region depends significantly on NRI investment. The International Container Transshipment Terminal in Kochi and various technological parks have significantly boosted the real estate market. More jobs equate to more families moving to Kochi. This has raised the prices of houses significantly.
Coimbatore is the second largest industrial center in Tamil Nadu, after Chennai. The city is driven by the textile industry, along with IT and the health care sector. Increasing investment in various infrastructures and commercial projects will facilitate the growth of the real estate market in the city.
Coimbatore has become a chosen destination for IT companies, especially due to the incentives offered by the Tamil Nadu government. Kochi-Coimbatore-Thiruvanathapuram is an emerging metropolitan hub. The Coimbatore-Tirupur-Erode industrial corridor will further significantly boost the economy of the state.
Kota is a training hub for students aspiring for premier medical and technology institutions in the country. The city also boasts large factories in engineering equipment, chemicals and fertilizers. Emergence of various medium and large companies in and around the city has rapidly expanded the commercial and residential property markets.
Abundant power and water, and good connectivity with Delhi and Mumbai are set to further help the industry in Kota. The city will also benefit from the east-west corridor highway project, with greater industrial activity and increasing demand for both commercial and residential real estate.
Investing in emerging cities with great real estate potential will bring in rich dividends in the long run. Besides these four cities you may also want to take a look at cities like Vadodara, Rajkot, Mysore, Nashik, and Ludhiana as these are also among the fastest emerging real estate destinations in India.
Get your Society on ApnaComplex – Today!
ApnaComplex is India’s most comprehensive web based housing society accounting, management and communication software. It is designed to make the life of residents and owners a lot better by bringing in more transparency and accountability in managing a housing society. Check out the features of ApnaComplex and sign up your society today to get the benefits! We offer a free 30-day trial as well so that you can try before you buy!