The Indian real estate market has witnessed a surge in growth recently, driven by factors like urbanization and robust economic expansion. While cities like Mumbai continue to be hotspots, several emerging markets are now taking center stage. In this blog, we will explore the top emerging real estate markets in India and discuss key factors driving their growth, as well as provide investing tips.

Overview of the current real estate market in India

India’s real estate sector is transforming due to favorable government policies, increased foreign investment, and the rise of affordable housing. The implementation of the RERA – Real Estate Regulation and Development Act, 2016 has brought transparency and accountability to the sector, boosting investor confidence. Additionally, the growing middle class, rising disposable incomes, and urbanization have also fueled demand.

Key factors driving growth in emerging markets

1. Infrastructural development – Cities with improved connectivity, transportation networks, and planned smart cities
2. Economic growth and industrial development- Emerging markets with thriving industries, such as information technology, manufacturing, and services, witness increased employment opportunities, and demand for housing and commercial spaces.
3. Affordable housing – The government has made homeownership accessible to a broader segment of the population.

At the 5th CII Real Estate Confluence, Mr. Ajay Ashar- CMD, Ashar Group and Vice Chairman MITRA – enlightened the audience with pertinent facts and statistics affecting the infrastructural and real estate scenario of Maharashtra. India’s GDP has been healthily growing at 5 to 6 per cent over the past 30 years. The Indian government has also been focusing on 8 key verticals: healthcare, housing, infrastructural development, agriculture, waste management, sustainability, technology and industrial growth. Currently, development of road networks is underway. For Maharashtra, approximately 3,58,000 crore rupees has been allocated for around 3,000 kilometers of expressways that are planned to be built.

Regions experiencing significant development

Thane: Thane is known for its ample green space and natural elements like its beautiful lakes. The vicinity to Mumbai is advantageous, and it is equipped with top-class hospitals and educational institutions.

Navi Mumbai: Widespread transport networks have been built which are convenient and increase connectivity. It offers relatively reasonable property rates as opposed to the main Mumbai city, and has a high standard of living too.

Pune: Pune has emerged as a top real estate market due to its strong IT and manufacturing sectors, young workforce, affordable housing options, and favorable investment climate.

Chennai: Its booming IT and automobile industries, strategic location, and planned infrastructure projects make it an attractive market.

Hyderabad: The city’s infrastructure development, proactive government policies, and affordable property prices make it worth considering.

Tips for investors

1. Research: Gain a deep understanding of market dynamics, growth potential, and upcoming developments.
2. Location selection: Choose areas with good connectivity, proximity to commercial hubs, educational institutions, and essential amenities.
3. Developer reputation: Invest with reputed developers known for timely delivery and quality construction to minimize risks.
4. Rental income potential: Consider markets with high demand for rental properties to generate regular income.
5. Long-term perspective: Have a clear investment strategy and patience to reap benefits.

Conclusion

India’s emerging real estate markets present numerous opportunities for investors and homebuyers. By conducting thorough research, selecting the right location, and having a long-term perspective, investors can capitalize on the potential and reap rewards. Make sure to carefully and calmly consider everything important to you, and you will have made the right choice.

If you have just started your work/job and want to save money, it’s more than likely you may buy a house soon. Of course, paying rent each month is not preferable, but giving an EMI for your new flat is a better option. Living at your own house brings unparalleled happiness.

Although there are so many alternatives for real estate, you should be careful in your home selection. There are always tips that can help you make a more intelligent decision, whether you’re buying a 1 BHK in Thane or 1 BHK in Kalwa, or a larger home or apartment. This article will provide you with some concise, high-quality advice for your first home purchase.

Know our needs – 

Make sure you are aware of your demands before choosing a flat or flat for yourself. You ought to be aware of all the regulations. You can be sure that you select a house in this manner that meets your needs. What’s the point if you subsequently regret making a hurried decision that you now regret? So, be sure to select a home that meets your needs. You could ponder things like:

• How many rooms should the flat have?
• Are the stand-alone or gated apartments acceptable to you?
• What’s your spending plan? If the price is too high for you, can you afford it?

Whenever you inquire about such things, you would take a better decision for yourself.

Safety of the property –

Regarding the safety issue, you ought to take caution. You cannot take safety for granted because crimes are always being committed. Search for the building that has proper guards, watchmen and CCTV cameras. This will allow you to confirm that the flat you are buying is secure and not at all close to a crime hotspot. Afterall, there is no point in choosing to live with your family in a bad or unsafe neighborhood. Hence, be cautious when it comes to safety. You would choose wisely and safely if you compare different houses with different localities.

Facilities and Environment – 

The facility that come with the apartment should also be looked into. How is the society you are moving into doing? Is it tidy and roomy? What about the building’s amenities? Is there a balcony and sufficient windows in the apartment? You must keep a check on these matters, or you risk getting stuck later. As you’ll be living in the new flat for at least a few years, you should investigate the building’s and flat’s surroundings. As a result, inspect and spend a day in the flat or building you are considering buying. Check to see if you can live there happily and safely.

Conclusion –

Make sure to keep all these suggestions in mind whether you’re looking for a 1 BHK flat in Kalwa, or 1 BHK flat in Thane. When you carefully select your property, there is nothing to regret in the future.

Referred to as the City of dreams and the nation’s financial centre, MMR is home to some of the costliest real estate properties in India. Real estate properties in Mumbai have been increasing for a while, and since 2022 things have only gotten better. Most homes in this region are ideal real estate investments and their value is only expected to rise. Below are the top three places to invest in Mumbai!

THANE
Home-buyers have been increasingly looking for affordable homes and have been moving to multiple developing areas of Thane. Along with Mumbai, Thane is connected to several other cities, including Kalyan, Bhiwandi, Vasai-Virar, and Mira Road. It has one of India’s best transportation systems, including roadways, railway and metro lines. Thane has two upscale neighbourhoods: Ghodbunder Road, Majiwada, and Pokhran road 1 & 2. These areas are hubs to several corporate offices, shopping & entertainment centres, and other services, attracting job seekers, and multinational corporations.

Although Thane’s real estate costs are considerable, they are not as costly as those in Mumbai.

We all know that Thane has gained prominence as a result of its role as a transportation hub for the nearby suburbs’ Central and Trans-Harbour railroads. Infrastructure in Thane has seen an increase in the past 10 years. Residential development has increased as a result of the growing commercial demand. The construction of Metro 4 (Wadala-Thane-Kasarvadavali) and Metro 10 (Gaimukh-Shivaji Chowk) by MMRDA will increase the demand for real estate in Thane and raise the price per square foot. Due to its excellent accessibility, 1 BHK Flats in Thane has long been a favoured choice among buyers and major builders. Buy your next 1BHK from Ashar, one of the best builders in Thane.

BANDRA

Bandra West is known as the “Queen of the Suburbs,” and is one of Mumbai’s best neighbourhoods and sought-after locations for investing in residential real estate. There is a fair balance of contemporary homes and old-world elegance. Bandra is the place to be, with stunning residences from the Portuguese era, antique cottages, and multi-story luxury apartments in Bandra giving the best amenities.

 Few years ago, Bandra experienced a spike in real estate prices. Old, outmoded buildings have been converted by developers into brand-new, opulent multi-storey residences with a variety of contemporary conveniences. The address of Bandra is itself quite a blessing. 

The start of the western suburbs is Bandra and is well connected to the rest of the city. With the Bandra-Worli Sea Link connecting South Mumbai to the northern and eastern parts of the city, and the Western Express Highway (WEH) connecting Bandra to Santa Cruz-Chembur Link Road (SCLR), it has eased connectivity. Metro Line 3, The Bullet Train, and the Coastal Road are examples of upcoming infrastructure.

The advantage of Bandra’s location is that it is close to commercial centres like BKC and Santa Cruz, as well as having additional access to Thane and Navi Mumbai through local trains and WEH. While having the most expensive real estate In Mumbai, the location is perfect from an investment standpoint when it comes to purchasing real estate. 

GHATKOPAR

Over time, Ghatkopar has become one of Mumbai’s most in-demand neighbourhoods. The cause of this is linked to a wave of infrastructure improvements that have caused a sharp increase in the demand for housing in the area. The Mumbai Metro has also eased commute in the area. 

The area is close to the Eastern Express Highway and has good access to roads and railways. While the distance to the airport is only seven kilometres, it is 20 kilometres to the Chhatrapati Shivaji Railway Terminus. Ghatkopar West is close to the urbanised neighbourhoods of Santacruz, Khar, and Juhu and has easy access to Thane. Various public transport facilities have eased access to these locations. Along with these advantages, the neighbourhood also has convenient access to other areas of Mumbai via Lal Bahadur Shastri Road (LBS), Tilak Road, and Mahatma Gandhi Road. The Sion-Panvel Highway connects Navi Mumbai and Ghatkopar West. In addition, the neighbourhood has a metro connection to Andheri in Mumbai. The metro station next to the route makes accessing the Western Expressway Highway easier.

The social and governmental infrastructure in Ghatkopar is excellent. In the area, there are numerous reputable schools, institutions, and medical facilities. The site is undoubtedly one of the best options for real estate investments with a strong rental yield. The forthcoming Colaba-Bandra-SEEPZ metro would enhance Ghatkopar’s infrastructure even further and will also enhance the value of each upcoming porperty in Ghatkopar. Improving the area’s connectivity to Churchgate will raise property values along the nearby corridors. Along with having solid infrastructure and connections, the area has seen a consistent YoY increase in property values. Ghatkopar may be the best option to invest in a region that gives real estate a strong rate of capital growth.

With the recovery of the Indian economy post the pandemic, real estate has been skyrocketing. However there is no doubt that MMR remains the dream for many home-buyers and investors. From premium bungalows to affordable apartments, the city has a lot to offer. Now is the right time to invest in these profitable realty areas for the long-term.