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Indian Real Estate Prognosis 2020,2021 Best cities for investment in land
  • October 11, 2020
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Indian Real Estate Prognosis : Best cities for investment (2021)

The real estate sector witnessed a major transformation during the ten years beginning in 2010, particularly in markets such as Pune, Bengaluru, Hyderabad, Delhi-NCR, Mumbai, etc. However, these towns are now close to saturation due to the absence of suitable land banks and high costs. Consequently, many developing cities are expected to become sought-after destinations during the next decade from 2020 onwards. Let us check which are the best cities for investment.

Best cities for investment in the home in 2020-2021

Provided that the ‘Smart City 2.0 mission’ of the government is expected to be initiated nationally in 2020-2021, the future looks promising for real estate, maintains Nimish Gupta, FRICS-MD, South Asia, RICS. Infrastructure ventures such as ‘Bharatmala’ and ‘Sagarmala’ would propel residential projects, the development of new airports under the UDAN system, as well as the safe absorption of commercial spaces,  The Sagarmala and Bharatmala projects, initiated by the government to boost logistics, highways and road connectivity, are aimed at developing strategic economic corridors in India.

For cities like Kochi, Agra, Kota, Nagpur, Pune, Indore, Vizag and other coastal cities, these measures would be helpful. Focusing on the construction of 100 airports by the Government of India would also provide a forum for taking the North-East into the overall development strategy, says Gupta.

Cities that are industry capitals,according to analysts, will continue to raise income for the nation and attract investment. As social conditions here ease with time, Agra, Patna, Bhubaneshwar and Vijayawada are likely to emerge as potentially desirable markets, along with Srinagar and Jammu.

Shimla and Dehradun will be among the main markets,  while the real estate industry of Greater Noida will receive a boost due to the International Airport of Jewar. As a residential destination, Indore, which is currently a commercial and educational hub for Madhya Pradesh and Jaipur and houses several manufacturing units, should expand.

Because of the availability of good education facilities, Kota would push the student living / housing section. Surat, Rajkot, Ahmedabad, Nashik, Raipur, Shillong, Mysore and Coimbatore are other cities likely to emerge as leading real estate destinations.

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In 2020-2021, how quickly can developing cities grow?

In the new decade, Gupta lists the estimated expense of potentially leading real estate destinations as follows:

  • By the end of the decade, Ahmedabad ‘s residential sector is expected to rise between 20 percent and 25 percent.
  • The residential markets of Bhubaneshwar and Vizag can see a 25 percent rise.
  • Nagpur is projected to rise at the end of the decade by 30 percent-35 percent.
  • At 25 percent -30 percent, Agra, Vijayawada, Patna, Raipur, Mysore, Greater Noida, Nashik and Kochi can rise.
  • Shimla, Dehradun and Coimbatore were able to rise by 20%.
  • Rajkot will see a 10 percent -15 percent rise.
  • At 15 percent -20 percent, Surat and Pune are likely to rise.

Over the past few years, cities falling under the government’s Smart Cities initiative have already seen real estate price growth, even though extensive urban planning has yet to take place.

Indian Real Estate Prognosis 2020,2021 Best cities for investment in land

Segments of real estate that will see development in the new decade

Over the next decade, new real estate models, such as ‘sharing accommodation’ are expected to develop, with more segmentation in terms of student housing and sharing accommodation linked to work/job, says Niranjan Hiranandani, national president, NAREDCO.

Rental housing demand will rise, as new rental regulations make this sector a strong choice for developers. So, as demand grows, there will be supply through various segments. Hiranandani believes that two of these segments, “shared accommodation” and “rental housing,” would see optimum appreciation.

In cities where residential properties are being built,, commercial real estate will also expand. For example, the retail segment is also witnessing growth in Indore, wherever residential pockets are being developed. In exchange, industrial and residential real estate would stimulate development in the sectors of housing, education, and hospitality. In cities powered by the Sagarmala and Bharatmala programs, the logistics and warehousing segments will also flourish.

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When the economy normalizes, real estate speeds down to spur strong demand.

Moving into the next decade, the real estate industry is currently in an atmosphere where regulatory requirements have contributed to transparency of sales, developer responsibility and a degree of protection in the purchase process. the mood of consumers is improving steadily and fence-sitters are converting into consumers.

As we step into the new decade, the downturn in the last three years of the previous decade resulted in deferred demand, which will return to the market and translate into higher-than-average sales , ” Hiranandani concludes.

 

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Disclaimer: The views of this expressed above are for informational purposes only based on the industry reports & related news stories. Navimumbaihouses.com does not guarantee the accuracy of this article, completeness, or reliability of the information & shall not be held responsible for any action taken based on the published information.
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