Confused in choosing the city that will choose to invest in the entire year 2017 and Mumbai, Delhi and Bengaluru got top preference amongst another cities of India. All three cities received over 22 per cent votes, respectively.
What makes them preferred cities for investment? To begin with, all three offer ample job opportunities. Corporate conglomerates have before made a beeline for acquiring office space in these cities.
Delhi mightn't function as the chosen destination for corporate but its NCR arm is. Gurgaon is the millennium city while Noida due to easy and cheaper accessibility to office spaces have caught the interests. Owning home in Delhi is a guaranteed approach to earning of profit in the future. Therefore, even though the high earning professionals, HNIs and NRIs look towards newer constructions in the NCR, they would not mind investing in Delhi when they a good deal.
Good transport options have certainly helped the investability quotient of the capital city.
Property rates in Delhi is definitely higher in comparison with the NCR. Owning home this is a matter of prestige. I own home in Adchini. Initially, though the area is on the main road to MG Road, it had been a village area with old construction houses and narrow alleys. My house was a 2BHK a ground floor unit with open space in the front. I took a property loan and built a four storey house. I have kept a floor for my family and have rented the rest of the floors housing one rooms to students and young professionals. Since it is near Qutub Institutional area, I haven't any dearth of tenants.
Mumbai happens to be the land of new projects in Mumbai for many sections of the society. Not only the office cadre, folks from all walks of life come to the city. As a result, chwal and one room – matchstick sized living areas are popular. Shortage of space and everyday costs has made accommodation expensive.
Nimisha Aggarwala, an executive professional in one of the start-ups lives in a rental accommodation in Andheri East. she says, “I'm quite happy surviving in a rental accommodation. I don't think I are able to afford to invest in affordable homes in Mumbai as the values are sky-high. Also, I would like to buy a house that will give me more space. I'm not originally from Mumbai and therefore spending so much money on an office doesn't seem profitable to me.”
Bengaluru is the silicon valley of India. Its IT emergence is no longer news anymore. The city is growing and is its real estate. The city holds a lot of promise and in comparison to Delhi and Mumbai, the rates of property in Mumbai are pretty affordable. Every year, it sees new entrants which ultimately leads with a percentage of investment.
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