Mumbai is the city of dreams for all those who wish to live a life amidst the sensational charm of Bollywood while listening to the sweet lullaby of the sea. Getting a home in Mumbai has been made easier by the developers who come up affordable residential options in different parts of the Mumbai Metropolitan Region (MMR). The city is also gaining traction as a residential investment destination.
According to the reports of property consultants Knight Frank India, Ulwe in Navi Mumbai and Madh-Marve are the two locations in Mumbai that are rising as the top residential investment destination in the whole of MMR. While property values are expected to appreciate by 70 percent in Madh-Marve, a growth of a whopping 94 percent is expected in Ulwe real estate market.
The proximity to Navi Mumbai International Airport and the commercial hub of the region is the main reason as to why Ulwe is rising as a preferred investment destination. Managed and kept by the City and Industrial Development Corporation of Maharashtra Limited (CIDCO), it is growing as an industrial hub and calls for better commercial development. On the other hand, Madh-Marve is a harbor and is also a great place for commercial activity. All this increases the demand of residential projects. Realizing the same, developers are coming up with exclusive options over the last two years.
The report also pointed out other locations across the country that are rising as preferred investment destinations. After Madh-Marve and Ulwe, Viman Nagar in Pune bagged the third place with a promised appreciation of 63 percent by 2020. Panathur-Varthur in Bangalore, Majiwada-Kasarvadavali in Mumbai, Vishrantwadi in Pune and Thanisandra in Bengaluru followed the lead. The eighth position was given to New Gurgaon that promises a positive value escalation of about 47 percent in the coming 5-6 years. Golf Course Extension Road and Dwarka Expressway are the locations to bet on.
In the coming time, residential real estate investment avenues will compete with other classes of assets like equities and gold. Infrastructure development and tremendous employment generation were noted as the two most important reasons behind the growth of residential realty. Connectivity with important locations and availability of proper civic amenities stand as other primary reasons of increased traction. 2016 is expected to be a bright year for residential real estate in India. Government is also coming up with positive reforms to promote the same. It would be a boon to make an investment in the above mentioned locations.
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