The economic and reformist push which has been initiated by the
present government has placed India on a very strong developmental pedestal in
the coming years. Obviously, the metro urban communities are the pride and
delight of India. These urban communities are the operational hubs of the
nation's economy and cosmopolitan culture, and act like a magnet for the rural
and semi urban population due to various reasons like better openings for work,
expectations for everyday comforts and base, better financial status and
enhanced infrastructure. Nonetheless, fast urbanization and advancement of
these urban communities into uber-urban areas has its own problems, health
hazards, over stretching of limited infrastructure, lack of basic amenities,
transportation, high property costs, and so forth.
The Government's drive to give 'Lodging for All by 2022' is an
ambitious plan and can be termed as tall order, however if executed diligently
is achievable. The aim is to provide apartments in the affordable range that is
from 15 lakhs to 20 lakhs. The project needs to be visualized and linked with
the ‘Smart City’ project to maximize its full potential. Residential
property in India, needs
to be delinked as an investment perspective and needs to be linked to the end
user requirement to achieve this aim. There are many towns and
cities which fit into this segment, where land costs have not sky rocketed and
therefore hold potential for development of affordable housing, as also have
the right mix of infrastructure and job opportunities.
Here are the main urban communities that offer incredible
lower-spending plan land venture prospects over mid-to-long haul.
Hyderabad, Telangana
After the long drawn political battle for the carving out of the
Telangana state, Hyderabad as the capital has turned up to be a winner, real estate websites in Hyderabad, real estate in Hyderabad is going through a transition with the
right blend of all social aspects. Hyderabad is a throbbing IT hub with all the
major Indian as well International companies setting base here. The municipal
corporation has taken the required initiatives for getting up the
infrastructure in terms of roads, metro etc. This has provided Hyderabad the
required potential for future enhanced growths. Hyderabad has an international
airport and counts as one of the class A city in India. As compared to other
class A city in India Hyderabad offers the most affordable rates as far as real
estate is concerned, for example, Manikonda, Kukatpally, Miyapur and Sainikpuri
offer properties in the range of INR Rs 25-40 lakhs. Hyderabad has now come out
of the political uncertainty and if the political hierarchy plays its cards
maturely the city has the potential to become the first smart city in India.
Pune, Maharashtra
Pune holds a special status as far as Indian cities are concerned.
It for long has been defining the ideal socio-economic-cultural mix required
for comfortable living. It meets the aspirations of the middle class as also
defines the structure for the urban rich and provide the infrastructure for the
semi-urban as well. It offers the ideal financial and business structure in
terms of IT, manufacturing and services sectors. The old satellite
manufacturing towns of Khadki and Audh have blended well with the IT parks at Hinjewadi.
Throughout the last couple of years, property
trends in Pune, have retained the
socio-economic-cultural blend of the city by offering real estate in all the
segments i.e. affordable, mid segment and luxury. The city has seen an
expansion in all the directions, thus developing as a strong synergized entity,
which has enhanced its real estate credibility.
Navi Mumbai, Maharashtra
Navi Mumbai has always had the potential advantage of its physical
nearness to Mumbai. But credit needs to be given to its municipal setup as well
as the political lineup for having utilized this advantage to the hilt, as also
not letting this advantage going overboard. Navi Mumbai over the last few years
has developed the required infrastructure in terms of roads, metro and SEZ
zones. With the new international airport which stands approved with the land
allotment in place, the proposed SEZs at Dronagiri, Ulwe and Kalamboli and the Mumbai
Trans Harbor Link approved, Navi Mumbai is all geared up and armed for the big
game. Why Navi Mumbai looks or behaves like the big brother to Mumbai is
because it has not allowed all these advantages to trigger a real estate
hyperbola akin to what happened in Gurgaon. Real
Estate Trends in Mumbai
have been steady with the
right mix of all segments catering to all the requirements. Only time will tell if the administration and
the political leadership would be able to derive required advantages of this
strong footing and convert them into game changers for the city of Navi Mumbai.
But for sure, as on date Navi Mumbai holds a lot of promise and if the real
estate developers retain the composure over the coming one or two years, we
would see the brightest star shining in Maharashtra next to Mumbai.
Jaipur, Rajasthan
Jaipur for long has for long boasted of its tourism driven
economy. Tourism still remains the main stay of Jaipur, however over the past
few years it has subtly given a humungous boost to its IT sector. This has
enhanced its image from a tourist-town to that of a metropolis, offering huge
growth potential. The up and coming IT
Parks guarantee an incredible future over all land resource classes. The
250-kilometer stretch in the middle of Delhi and Jaipur has turned into a
hotbed for land improvement, with zones like Manesar, Dharuhera, Bhiwadi,
Neemrana, Kotputli and Alwar turning into the new buzzwords for financial
specialists.
Like other potentially promising cites, here also the
administration has played a key role. The municipal setup has worked in a
planned manner to develop the required infrastructure in terms of roads, BRTS
and metro. Therefore, Jaipur is not only feeding to the requirements of
Rajasthan but also to the adjoining towns of Haryana. The administration has
been smart enough to blend the city’s rich historical heritage with its tourism
potential, to its desire to be counted as a modern metropolis city. Top
Residential Real Estate in Jaipur, for example, Malviya Nagar, Tonk Road and Ajmer Road count among
the most sought after real estate destinations. Again the city offers real
estate in potentially all segments and meets to the requirement of an end user.
Noida, UP
Noida including Greater Noida has been for long denied its rightful
place in the cities which constitute the NCR Region. The main reasons for this
are that Noida is a part of UP and its law & order track record has been
dismal. These two factors have never allowed Noida to come out of its shady
existence. Noida in terms of infrastructure whether internal roads, metro,
connectivity with other towns, educational setup etc. is much better organized
than any other town/city in the NCR region, however it has not been able to
exploit its full potential. Real estate in Noida has been bustling with
activity in the last two to three years, though it was affected by the longish
land dispute in Noida Extension now rechristened as Greater Noida West. Noida
offers a very promising alternative to the exorbitant land and apartment costs
which are prevalent in Gurgaon and New Delhi, with the promise of a much better
infrastructure. Even the rental market for residential, retail and office space
is much more affordable as compared to other towns of NCR. If property
in Noida is able to shake off its UP tag and improve upon the law &
order situation, in no time it would become the most sought after destination
in the NCR belt.
Gujarat and Conclusion
Ahmadabad, Surat and Vadodra are three towns/cities in Gujarat
which hold huge potential and beat all other cities on their Liveability index
and have the potential to hit the top of this list. We would be covering these
cities in ours.
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