If one were to consider the performance of different territories across the country in terms of house sales and new project5 launches, then Bangalore stands as the undisputed winner. The city not only kept the sales ticking throughout the last year, but also boasts of the largest number of new project launches by the end of 2014. Chennai and Pune were not far behind.
But this does not mean that the dynamics have not changed now. By the end of 2014, the government had relaxed the FDI norms in the property sector and this year the RBI has decreased the repo rates. Both these changes will open up the property markets in the times to come.
Where to Buy Property In India in 2015?
Bangalore will continue its stellar performance this year as well. Builders have converged in the city from across the country and there is stiff competition in providing a large variety of homes to the masses. However there are experts who think that the city may not witness the same performance for the same reason. There are a large number of investors/builders in the city and the property prices are amongst the highest in the country. As a result, end users may decide to opt for other territories where similar developments are taking place although at relatively economical costs.
Noida as an Alternative
One of the prime chunks of investments this year are expected to be made in upcoming properties in Noida. The city has been reeling under the slowdown for a long time. However the builders over here have assessed the demand for properties for the masses and therefore a large number of affordable projects are currently under development in the city. The new trend of luxury accommodations has also witnessed growth during the slowdown phase. As a result, there are a few projects under development in the city which would cater to the need of such end users.
The growth in Noida has primarily been bolstered by the infrastructure development. The Faridabad- Ghaziabad- Noida expressway is currently under development. Greater Noida is expected to receive a new power plant which would eliminate its power woes in the long run. These factors have led to the growth of property development in these areas.
Kolkata as an Investment Prospect
Even after the success of the New Town area as the new “go-to” place for commercial establishments, the demand for property has not witnessed a huge rise. However the city is currently planning the extension of the existing metro route and the development of a new metro route from airport to south Kolkata. These infrastructure development projects have caused an increased interest in properties in Kolkata. Last year, the city sold a plot of land adjacent EM Bypass for record prices. The land belt between the EM Bypass and the new metro route being planned is now being acquired for the development of upcoming properties in Kolkata. Investment in these areas is not expected to deliver short term profits. However in the long run, the ROI for the potential investors is considered to be prodigious.
Anyone who is interested in property trends of Noida or Kolkata can visit the DSL page of housing.com and view the prevailing prices and property hot spots in the city. The portal can also assist the end users to find upcoming residential projects in both cities.