12 Best Places to Buy a House in India
1. Mumbai
Buying property in Mumbai is a good idea for several reasons. Known for its vibrant culture and professional opportunities, Mumbai offers a lifestyle close to everything you need. Further, property values here have consistently risen, promising future rewards.
Not only that, but the city boasts diverse communities, from the serene Thane to bustling South Mumbai. Lastly, continuous infrastructure improvements, like road and metro expansions have enhanced commute.
2. Delhi
As the nation’s capital, Delhi offers unmatched opportunities for education, culture, and career growth. The real estate market here is resilient, with property values steadily rising and promising great future returns. From suburbs like Dwarka to the lively streets of South Delhi, there’s a neighbourhood for everyone. With continuous infrastructure improvements and a strong sense of community, owning a home in Delhi means more than just a place to live—it’s a smart investment in your future.
3. Chennai
The coastal city of Chennai offers a vibrant lifestyle and rich cultural heritage, blending traditional charm with modern amenities. Chennai’s real estate market is stable, ensuring long-term growth and financial stability.
Further, with diverse neighbourhoods to fit any budget, from serene OMR to bustling Adyar and ongoing infrastructure improvements, Chennai provides an inviting, community-focused living experience.
4. Kochi
Investing in Kochi property in 2024 is smart, as the market is booming, promising future returns.
Whether you prefer the serene suburbs of Tripunithura or the lively city life of Ernakulam, Kochi has it all. With excellent infrastructure, top-notch amenities, and a lively cultural scene, Kochi offers a blend of beauty, convenience, and opportunity.
5. Hyderabad
Known as ‘India’s second Silicon Valley,’ Hyderabad offers abundant opportunities in the IT sector, promising numerous job prospects and career growth. The city’s real estate market is promising, ensuring great investment returns.
With a low cost of living, excellent infrastructure, and a blend of modern amenities and rich cultural heritage, Hyderabad provides a vibrant lifestyle.
6. Pune
Pune offers a perfect blend of educational and professional opportunities, along with a high standard of living. The real estate market here is strong, making it a great investment with property values steadily rising.
You’ll find diverse communities to suit all tastes and budgets, from peaceful suburbs like Kothrud and Wakad to bustling city life in Baner and Hinjewadi.
Remember to check for the occupancy certificate and project compliance before making your purchase.
7. Kolkata
With Kolkata’s real estate market on the rise, investing in property now promises substantial future rewards. Further, you can choose from diverse living options, ranging from the quiet suburbs of New Town to the lively streets of Salt Lake. Not only that, but Kolkata’s excellent transportation system makes commuting a breeze.
8. Ahmedabad
Ahmedabad is a rapidly growing city, perfect for those looking to start a business, advance their careers, or raise a family. The expanding real estate market makes it an excellent time to invest, with property values steadily rising.
The city offers diverse neighbourhoods to suit various budgets and lifestyles, from the peaceful Thaltej to vibrant Vastrapur. With excellent infrastructure, modern amenities, delicious cuisine, vibrant festivals, and rich cultural heritage, Ahmedabad promises a fulfilling lifestyle and a sound investment.
9. Navi Mumbai
Navi Mumbai offers an impressive economic landscape and numerous professional opportunities, whether you’re starting a business or climbing the corporate ladder. With the real estate market on the rise, investing now could mean great returns later. Consider investing in localities like Khargha Panvel, Nerul, and Vashi, as these can surely help you find what you’re looking for.
10. Nagpur
The vibrant city of Nagpur offers promising economic opportunities and steady growth, making it a smart choice for young entrepreneurs and families. Its diverse neighbourhoods offer something for everyone with varying budgets and tastes. With solid infrastructure, excellent connectivity, and a rich cultural heritage, Nagpur promises not just a home but a future full of potential and enjoyment.
11. Bangalore
Bangalore, also known as the ‘Silicon Valley of India,’ boasts a booming IT sector and a vibrant entrepreneurial spirit, making it an ideal spot for career growth and business ventures.
Property values have consistently risen, promising strong long-term returns as well. With diverse neighbourhoods catering to various lifestyles, from Indiranagar to Whitefield, you’re sure to find your perfect residential address.
12. Noida
Noida is an excellent choice for property investment, boasting a blend of modern infrastructure and strategic location. With its rapid development, excellent connectivity to Delhi, and vibrant business environment, Noida is becoming a hotspot for residential and commercial properties.
The city offers a range of options, from luxury apartments to affordable housing, making it attractive to diverse buyers. Further, the promise of future growth and infrastructure projects makes it a wise investment for long-term gains.
Real estate returns in India
Real estate returns in the last 10 years in India have been, on average, 10.6% per year on residential properties and 9.5% per year on commercial real estate. Based on the House Price Index of the Reserve Bank of India (RBI), real estate in Lucknow has given returns of 16.1% per year, while in Jaipur, it has given returns of 6.1% per year.
Real estate returns in the last 20 years in India saw a massive 52% increase in the 2000-2009 decade. Investing in real estate in India has always seemed like a safe option for investors. However, investors must be mindful that real estate returns depend on the location and that in some areas, the growth is more exponential than in others. Therefore, they must explore such places to make strategic investments for the best real estate returns in India.
Additional Read: Home Loan in Hyderabad
12 Best Places to Buy a House in India
Here is a list of the best places to buy property in India in 2022 based on their history and the development of the city.
1. Sector 75 – Noida
Being one of the fastest developing locations, Noida definitely is one of the best cities to buy property in India. Property values in Sector 75 have increased by 20% in the past year. Currently standing at Rs. 6,800 per square foot, this area has plenty of residential properties. Its proximity to various retail stores, other sectors, commercial hubs and the Film City makes it a very well-connected location to purchase a home. Rental yields in this location fetch around 3% every year. The area also has schools and hospitals and easy accessibility to the city’s major expressways.
2. Sector 129 – Noida
Considered to be one of the affordable localities of Noida, Sector 129 has plenty of 2 BHK and 3 BHK homes with a value of Rs. 4,200 per square foot at the moment. Its close proximity to corporate hubs like ETT, Advant Navis Business Park, and Logix Technova makes it a lucrative investment. The rental yield is around 3% per annum, and the rent increases by roughly 8% every year. What makes this location one of thebest places to buy property in India in 2022 is the upcoming Noida International Airport which could positively impact the prices of the properties in the locality. The metro station is also 3 kilometres from Sector 129, ensuring smooth connectivity.
Additional Read: Home Loan in Mumbai
3. Wakad – Pune
As a result of its excellent connectivity and industrial expansion, Pune has emerged as one of the best cities to buy property in India. 18,042 real-estate projects were launched in the first quarter of 2021 in this area alone, each of them promising a good return on investment and a stable rental yield. Furthermore, Pune has seen a 75% increase in real estate sales in the past year.
The upcoming Pune International Airport in Purandar Tehsil will give a further boost to the property rates. It is estimated that this 2400-hectare project will be completed by 2023. A 350-crore industrial park is also under development in Chakan, which will accommodate various factories. Additionally, the Mumbai-Pune Expressway is one of the most well-maintained expressways in India. It allows easy access in and out of the two major cities of Maharashtra – Pune and Mumbai.
Due to its proximity to the Rajiv Gandhi Infotech Park of Hinjewadi and several major offices like TCS, Tech Mahindra, Wipro, etc., Wakad is an attractive investment location within Pune.
4. Dhankawadi – Pune
Other localities in Pune, like Dhankawadi, have shown a 16.19% increase in value in 2022 compared to the previous year. The average price of houses in the Dhankawadi region is currently Rs. 5,332 per square foot. A developing suburb, Dhankawadi is also well connected to the Pune-Bangalore highway and to the southern part of Pune.
5. Panvel – Navi Mumbai
Ranking third on the quality of life index in India, Navi Mumbai must be on the list of the best cities to buy a property in India. From 2014 to 2021, the property prices in Navi Mumbai increased by around 4% to 7% year on year. The upcoming Navi Mumbai International Airport will positively impact real estate prices in this location. The perfect balance of residential and commercial properties in the area makes Panvel one of the best places to invest in a property in India in 2022.
6. Mahadevpura – Bangalore
Mahadevapura leads the charts in Bangalore with an increase of around 11.39% between 2020 to 2021, owing to its developed locality, proximity to popular IT hubs and high rental demand. Mahadevpura is also slightly more affordable than its surrounding areas, which makes it a popular choice. This area even gave higher returns than the average real estate returns in all of India.
7. Hebbal – Bangalore
Due to the immense volume of commercial spaces and its proximity to the airport, Hebbal saw a 9.52% increase in the value of properties last year. Bangalore is a start-up hub so naturally, having commercial spaces around the residential properties is a big boon for the people residing in the city.
8. Lucknow
Considering the massive commercial and residential real estate projects coming up in Lucknow, this would be a wonderful place to buy a new home in 2022. Projects like Valencia County by ANS Developers Private Ltd (which is worth Rs. 405 crores and will also create 800 jobs) are attracting many people to consider purchasing property in Lucknow.
9. Hyderabad
Almost 6,301 properties were sold in Hyderabad in May 2022, which marked a 152% increase since last year. The value of the properties was up by 7% in Hyderabad since last year, making it an excellent place to invest in real estate. Furthermore, Hyderabad is an industrial hub that supports innovation, making it a great investment destination.
10. Ahmedabad
With a projected increase of around Rs. 400 to Rs. 500 per square foot within 6 months, the real estate rates in Ahmedabad show true promise. Ahmedabad has massive investments pouring into the city, like the creation of GIFT city. Its rapidly increasing infrastructure supported by government initiatives also contributes to its growth. These factors make Ahmedabad a promising contender for investing in real estate in India.
11. Mira Road East – Mumbai
Even though the real estate rates in Mumbai are already sky-high, Mumbai remains a popular spot for home buyers. Mira Road East is one of the best residential localities in Mumbai, with seamless connectivity and picturesque surroundings.
12. Andheri West – Mumbai
Andheri West, one of Mumbai’s most modernised residential localities, is a hotspot because of its outstanding infrastructure and connectivity. Mumbai is the financial capital of India. Therefore, investing in a property here is said to be a logical and wise choice as a long-term investment as well.
Conclusion:
These are some of the best places to invest in a property in India this year Buying a home is a significant investment. One should always consider various factors before closing a deal on a new home. Tata Capital makes millions of dreams come true with attractive rates on home loans and a seamless application process. Get in touch with a representative and understand the best options for you to fund your dream home today.
FAQs
Which is the best place in India to buy a house?
While the best place to buy a house in India depends on your unique preferences, budget, and needs, the top cities include Mumbai, Delhi, Chennai and Kochi.
Where to buy property in India?
The best place to buy property in India depends on your personal preferences and needs. Be sure to analyse your options thoroughly before making a purchase.
Which city in India is real estate booming?
Real estate is booming in many Indian cities, such as Mumbai, Delhi, Kochi, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Nagpur, Navi Mumbai, Noida, and Bangalore.
Where to buy house in India?
The best place to buy a house in India depends on your preferences and needs. Be sure to analyse your options thoroughly before making a purchase.
06 August 2024
11 mins read
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