10 Indian cities having affordable realty markets
10 Indian cities having affordable realty markets – JLL
In a recent report by JLL India, Navi Mumbai, Ahmedabad, Pune and Hyderabad have been listed in the 10 affordable property markets of India among other cities like Kochi, Ghaziabad, Jaipur, Nagpur, Surat and Coimbatore. According to the consultancy, these cities offer great low-budget properties between Rs. 30 – 50 lakh.
“These ten cities offer ample choices for investment in real estate with reasonable property price levels as well as opportunities for future capital appreciation and healthy returns,” says Anuj Puri, Chairman and Country Head, JLL India.
On Hyderabad, The report stated that after the end of political turbulence and prolonged slump, the real estate market in this city is all set for an upswing. Puri said Hyderabad is conceivably one of the most affordable cities among all tier 1 cities of India. Even the well-developed residential localities like Manikonda, Kukatpally, Miyapur and Sainikpuri present homes in the budget of Rs 30-50 lakh.
While Mumbai is increasingly becoming unreasonable for the common man, Navi Mumbai still presents affordable choices in similar price range. “The proposed SEZs at Dronagiri, Ulwe and Kalamboli, and the impending international airport at Panvel are expected to generate employment and drive demand for commercial as well as residential real estate,” Puri said.
About Pune, the report said that this Tier II city has documented substantial growth in the affordable housing segment over the last couple of years. These projects offer small 1-2 BHK flats with basic amenities and are located in the periphery of Pune.
“Well connected via metro and roads to the job markets of Delhi-NCR, Gaziabad mainly gratifies the mid-segment home buyers. With a very good supply of ready-to-move-in apartments offered by reputed developers in the affordable range of 30 – 50 lakh, the city is emerging as a residential neighbourhood of Delhi,” Jll said in the report.
On Kochi, the report observed that the residential real estate market of the city is dominated by affordable housing segment, which accounts to about 60 per cent of the total housing projects.
