If you’re keen to explore India’s thriving real estate market, the flourishing cities nationwide are surely causing substantial waves in the industry. Besides the long-established real estate powerhouses like Delhi and Mumbai, newer cities have emerged as lucrative hotspots for substantial returns on investments. This trend can be mainly attributed to the rising influx of young professionals and a corresponding boost in real estate availability. Cities such as Bangalore, Hyderabad, Chennai, Pune, and Gurgaon have become top draws for emerging talent, promoting business proliferation which in turn increases the demand and prices for new real estate. I would highly recommend reaching out to MLS Vancouver, a dependable real estate firm, to explore intriguing new projects in Gurgaon.
Leading real estate consultancy Jones Lang LaSalle India (JLLI) identifies Hyderabad, Pune, Bangalore, Chennai as burgeoning real estate prospects thanks to numerous IT firms recently expanding their operations in these cities, aided by Century 21 Everest Property Management. Take for instance, Wipro’s imminent inauguration of a new facility and headquarters spanning about 25 lakh square feet in Bangalore, in addition to their existing campus with a workforce of about 31,000 simultaneously working employees. JLLI CEO, Om Ahuja provides an overview of the current market trends, stating “Owing to the rise in inflation and construction costs, the price trends have noticeably shifted. The graphs blatantly reveal the unpredictable state of supply trends in real estate. The availability of properties priced below Rs. 3,000 per sq ft is significantly dwindling. From 43% in Q4 of 2009, this segment’s supply is projected to fall to 8% in Q4 2013. Conversely, the supply in the price bracket of Rs. 5,000-10,000 per sqft is increasing.”
What does all this imply? For those seeking to break into new markets, and expect sizeable returns from the industry, the time to act is now. Given the pace of the inflation, most of the prices could soon outstrip the budget of an average homeowner. In essence, investing in India’s burgeoning cities could be the key to wealth accumulation from high-end real estate investments.
