Top Cities for Budget Real Estate in India

Here are 10 cities that offer great lower-budget real estate investment prospects over mid- to long-term.India’s cities draw the most housing demand for reasons like better job opportunities, living standards and infrastructure.However, rapid urbanization and development of these cities into mega-cities have given rise to challenges such as pollution, traffic issues, high property prices, etc.

The government’s initiative to provide ‘Housing for All by 2022’ is being pursued laboriously. The simple motive is to provide affordable homes within the price budget of up to Rs 25 lakh. This vision must necessarily encompass the smaller cities near the bustling cities of India.

Though afford-ability is a relative term, it is pertinent to look destinations where residential properties within the budget range of Rs 30-50 lakh are available, and are classified either emerging or growing sub-markets supported by good infrastructural development. These towns and cities offer a wide spectrum of investable options in real estate with relatively lower price levels, providing the incentives for future capital appreciation and healthy returns.

Hyderabad, Telangana 

After a prolonged slump due to the global recession followed by political turmoil, Hyderabad’s realty market is now once again set for an upswing. Hyderabad, with its buoyant and thriving economy and a dynamic workforce, is once again trending as a buyer’s market. The IT/ITeS industry has given further impetus to the real estate consumer trend, which is evident from the growing demand for residential, commercial and retail spaces. 

Pune, Maharashtra
The perfect blend of Pune’s manufacturing and services sectors makes the city a standalone economic powerhouse in all respects, with a rate of job generation that is hard to match. The city has witnessed steady appreciation over the last few years, and is ranked as one of the best markets for real estate investment. The luxury homes segment has been burgeoning on the Pune’s real estate market, with many large players entering with excellent luxurious projects. However, Pune is now witnessing a slight shift in the development trend. Many new players on Pune’s burgeoning real estate market can be seen venturing into the affordable housing segment. This is obviously the segment where the greatest demand lies.

Navi Mumbai, Maharashtra
Over the last few years, the real estate market in Navi Mumbai and surrounding areas have shown impressive growth, largely because of the planned approach taken towards development. Now, with Navi Mumbai receiving final nod for the International Airport, its property market and that of the surrounding areas have been showing great potential. While property prices have increasingly become unaffordable in Mumbai, Navi Mumbai still provides numerous options for residential housing within the budget of Rs 30-50 lakh.

Jaipur, Rajasthan
Emerging out of its image of being a majorly tourism-led economy; Jaipur has grown beyond everyone’s expectation to become one of the top global outsourcing cities in India. The upcoming IT Parks promise a great future across all real estate asset classes. The 250-kilometer stretch between Delhi and Jaipur has become a hotbed for real estate development, with areas like Manesar, Dharuhera, Bhiwadi, Neemrana, Kotputli and Alwar becoming the new catchwords for investors.

Surat, Gujarat
Surat, known as the diamond capital of the world, is a well-developed metropolis in Gujarat. Rated as one of the fastest growing cities of the world and also recently conferred with ‘Best Urban City of India’ award, Surat has also gained prominence and recognition for being the Cleanest City in India by INTACH. Rapidly improving infrastructure initiatives have helped modernise Surat significantly.

Ghaziabad, NCR
Ghaziabad is an emerging residential neighbourhood of NCR which has a very high supply of residential properties in the budget of Rs 30-50 lakh. Well connected via Metro and roads to the job markets of Delhi-NCR, the city caters largely to the mid-segment home buyers. The city has a high supply of ready-to-move-in properties offered by renowned developers. Some of the well-established residential clusters in Ghaziabad that have gain prominence in the recent time include Indirapuram, Kaushambi and Vaishali. 

Nagpur, Maharashtra
Although a city with extreme climatic conditions, Nagpur is one of the fastest-growing cities in India. Nagpur’s main claims to fame include its MIHAN and SEZ projects. However, with the Devendra Fadnavis-led BJP government taking keen interest in turning Nagpur into the next IT hub of Maharashtra, the city is set for a major transition in its real estate profile. The already-established MIDC corridor along with the upcoming IT parks have made Nagpur one of the cities that bear close watching by real estate investors.

Kochi, Kerala
Kochi is a metropolis in the making where modern urban lifestyles are settling into antiquated old traditions. During the days of its realty boom, Kochi grew exponentially, with more people migrating to the city and consuming even the outlying catchments of Palarivattom, Vytilla, Kakkanad, Edappally and Kadavanthra. Development of IT/ITeS projects such as the Kochi Smart City and initiatives to channelise traffic and improve connectivity, such as the Mobility Hub at Vytilla, have fuelled significantly increased demand for real estate, which more and more developers are cashing in on.

Coimbatore, Tamil Nadu
Coimbatore is the major industrial centre in Tamil Nadu after Chennai — and as incentives are given to IT companies by the Tamil Nadu government, Coimbatore has gained momentum as a preferred destination for IT/ITeS. With the government in power promoting the city by enhancing infrastructure development, Coimbatore’s property market has witnessed an upward push in demand for residential units in the core areas of the city such as R S Puram, Avinashi Road and Race Course, which are considered posh areas. Nevertheless, it has no shortage of affordable housing options. Coimbatore is a market where 40 per cent of real estate investments come from investors living in cities such as Bengaluru, Cochin and Chennai. Apart from the demand from professionals engaged in IT/ITeS, Coimbatore is emerging as a retirement destination, and demand for 2 BHK homes is high from senior citizens. Demand for smaller apartments is primarily from young IT professionals, while villas and row houses see demand from NRIs, retirees and IT professionals with a preference for such properties.

Ahmedabad, Gujarat
Ahmedabad may be the last one in the list, but it is in no way the least. With the city being a prime example of organised and fast-paced development for the rest of the cities in India, Ahmedabad has come a long way. With huge investments pouring into the state, rapid infrastructural development in the form of bullet trains, GIFT Smart City, the entrepreneurial nature of the population and a supportive, stable government, everything is going right for Ahmedabad. The oil, gas and energy industries, petro-chemical industries and automobile manufacturing industries are some of the major factors driving perennial demand for real estate in the city.

Akshaya Tritiya in Ahmedabad Real Estate

Akshaya Tritiya pageant enhances interest for Ahmedabad realty

Also called Akha Teej and known by many names across completely different elements of the country, this date owns tremendous non secular furthermore as astrological significance. Not alone in Jainism however as per the Hindus, these days is believed to be dominated by Lord Vishnu. Akshaya Tritiya is additionally known as Navanna Parvam. Astrologically, the day falling on a Rohini star, Monday is taken into account additional auspicious. The day falls on the third lunar day within the month of Vaisshakh. The Hindu beliefs are grounded with the idea of Mahurats or auspicious timings. Be it a marriage occasion or an acquisition of a plot, a perfect time, date and day is specifically chosen.

Any new entrepreneurial or personal venture is initiated once consulting the dates. whereas Akshaya Tritiya is around the corner, these days marks plenty of prosperity significance. This pageant is one such momentous occasion that is taken into thought whereas managing property, gold or business ventures. Akshaya Tritiya is one among the foremost auspicious days of the Hindu calendar and therefore the notions stands that any meaningful activity started on these days would be fruitful.

Considering the investment choices within the town, the market still stands favourable for smart deals. Be it a high rise apartment surrounded with fashionable amenities or a private weekend plot, the demand and provide ratio still remains proportional. Akshaya Tritiya appears to bring a flow of inquiries within the realty section, bringing the realtors on their heels whereas individuals build a bee-line in quest of investment choices. The non secular significance of recent investment on these days which bringing monumental prosperity holds its importance within the investment phase. whereas the important estate state of affairs is nevertheless sturdy within the town and is booming with smart appreciation price, the gang is additionally focusing in property investment choices besides gold and jewelry purchases.

The word ‘Akshaya’ stands for imperishable or eternal – that that never diminishes. based mostly on this belief there remains a rush of shoppers in creating new ventures on these days. Initiations created or valuables bought on these days are thought-about to bring success or providence. The Indian myths favour gold purchases on these days. shopping for gold may be a common activity on Akshaya Tritiya, since gold is that the final image of wealth and prosperity. Gold and gold jewelry bought and worn on these days signify never diminishing providence. The non secular benefit that's acquired by giving gifts on these days is taken into account inexhaustible. Most jewelry stores stock in new jewelry models for this occasion with “Lakshmi”-inscribed gold coins, diamond jewelry and golden greenbacks with the photographs of the many gods and goddesses. it's conjointly believed that individuals born throughout this point shine bright in life.

People conjointly foresee for many alternative new ventures on these days, be it a marriage, starting of a replacement business or house warming ceremonies. Some even set up long journeys on these days. Worldly activities are often initiated throughout currency of this Tithi, but aspirants should make sure that the said length isn't sullied by concurrence of malefic times observed in keeping with the Hindu principles, and therefore the moments are favourable to the doer by transits of the planets and therefore the like. Aspirants are cautioned against using this Tithi blindly for initiating and conducting every type of life activities. Auspiciousness of the Tithis for specific activity depends upon simultaneous presence of Panchangam Shuddhi, Muhurt Yogas and host of alternative components of Hindu astrology.

The property market in several locations sees increased activity throughout festivals like Akshaya Tritiya, that are believed to be auspicious for the creation of wealth and providence. The positive sentiment related to such festivals typically motivates fence-sitting consumers to require the plunge where they'd otherwise have procrastinated additional. Developers are well responsive to this and get to capitalise on these sentiments via increased selling efforts. In that respect, festivals like Akshaya Tritiya will act as a strong market force.

Since the assumption for this occasion remains sturdy, the important estate holders do return up with favourable schemes and straightforward investment choices. One might look in for an appropriate theme and instalment choices to shop for the land of likeness. Not that purchasing property has turned a cake walk however with dime a dozen investment choices, the case to shop for land has become straightforward.

Akshaya suggests that smart luck and success. It stands for the never diminishing prosperity. several believe that purchasing a house on these days, brings wealth and peace for its residents forever and for generations down the road. There are plenty of property campaigns conducted by banks for straightforward home loan solutions, by jewellers for discounts in jewelry creating and by monetary establishments. Over the time Akshaya Tritiya has not solely gained non secular importance however the day is additionally commercialising for the betterment of consumers and sellers. With ton of commercialisation, though these days flares a materialistic urge in individuals, there's a really high awareness relating to Akshaya Tritiya.

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