Top 3 cities to buy real estate properties in India:

This is another wrong thinking about the home loan process. As in the case of a good credit score, it does not guarantee the home loan approval’s success. Along with the CIBIL score, real estate market must be very dynamic in India. The real estate market is facing continuous fluctuation in markets due to various reasons like demonetization, corona-virus pandemic, and overall slack in the economy. The markets were left with a huge pile of inventories of unsold properties in the market, leading to a massive loss for the real estate industry. In the post-pandemic period, the government reduced the registration stamp duty charges on the properties, leading to a better sale of the post-pandemic properties. The Maharashtra Government reduced the stamp duty charges by 4%, bringing it down to 2% instead of 6%. This led to a big rise in the real estate markets. The registration of properties went up drastically.

The real estate sales in the top metro cities are high on demand in major metro markets like Mumbai, Delhi, Bangalore, Hyderabad, Chennai, Kolkata. etc. The migration in metros is huge due to plenty of opportunities in growing metros and a popular trend of nuclear families across India. Also, the high disposable income of the people amongst the metros leads to higher expenditure for the purchase of flats as well as for the interiors. The reasons for the higher demand for properties is due to IT center coming up in metros as well as large scale industrial units, corporate hubs, state and central government headquarters, educational hub.etc.y that the applicant has sufficient balance into the bank account and the borrower should have an appropriate salary to meet the eligibility criteria for opting for loans.

Following are the top preferred cities in India to buy properties:

Mumbai

Advantages:

• he city of Mumbai is a financial hub of India, which has a huge number of corporate companies, government departments, IT companies, and the financial capital of India due to huge BFSI based industry in banking, financial services, securities and insurance companies. Thus due to the huge potential for the plenty of job opportunities in Mumbai is a very dynamic market for buying properties.
• The Mumbai city has been a hub for the business center, and the infrastructure is developing very rapidly in Mumbai like the metro rail projects, monorail projects, flyovers, highways. etc.
• The low-cost housing scheme is also available from the government like Maharashtra housing and area development authority [MHADA], which provides affordable housing to the poor.
• Also, Mumbai city has the best connectivity like rail, road, airways to every nook and corner of the country. Also, through airline globally, Mumbai has better connectivity. The city has been growing very rapidly due to very high business activity being flourishing in Mumbai.
• The facilities being provided by the government are quite good wherein the Mumbaikars receive 24×7 water supply, electricity supply. etc.
• Property appreciation is very high thus leading to good returns on investment for property buyers as well as due to high demand selling the property is very easy.

Disadvantages:

• The ready reckoner rates in Mumbai are very high. Thus it is tough to buy the property for a common man in the city of Mumbai.
• The city of Mumbai has huge congestions and also popular for slum localities, poor quality infrastructure in some localities making it unpleasant for the property buyers to stay there.

Delhi City:

Advantages:

•  Delhi is the national capital of India thus known for the best quality infrastructure as well as great connectivity to every part of the country and also an important major hub keeping in view the national importance as all the important strategic sectors like central government offices, key strategic important sectors like defense forces. etc.
• Delhi city is also a major corporate hub and a major It hub in Delhi city and the adjoining region of Gurgaon, Noida, which is regarded as the national capital region NCR, which is also a hotspot for the booming realty sector.
• Delhi has very good quality infrastructure, good roads, good transport connectivity. The Delhi metro is a lifeline of the union territory of Delhi, which is a speedy means of transport as well as Delhi transport corporation is a major bus transporter that connects to various parts of the city as well as in NCR.
• The national building construction corporation [NBCC] constructs low-cost housing projects so as to provide affordable housing in the city.

Disadvantages:

• Delhi city is very much un-affordable to buy properties as the prices are too high in most of the localities.
  
  
• The traffic congestions in Delhi is too high.
• Also, the city is very highly polluted, because of which many people suffer from chronic ailments related to the pollution.

Bangalore:

Advantages:

• Bangalore is known as the silicon valley hub of India as it is a major IT hub in India. The city has plenty of job opportunities in the IT sector and a major headquarter for start-up companies in India.
• Bangalore has good greenery and also has the best quality town planning and infrastructure.
• The bus transport of the BMTC department [bengaluru metropolitan transport corporation] connects all major locations of Bangalore city. Also, the network of metro is slowly developing in the city.
• Bangalore has good spacious localities to stay with a nice scenic view, calm and quiet places thus making it an excellent place to stay.

Disadvantages:

• The city’s population is growing very rapidly thus urban congestions are high. Also the traffic congestions are high in the city.
• Also due to ever growing population there is an acute shortage of water in the city, making life difficult to most of the people in slum localities as well as people staying in the outskirts region.
• The cost of living is very high in the city thus making it difficult for people to manage expenses especially people from low income and middle income group.
  
  

Conclusion:

Thus we can conclude that the real estate market in the city of Mumbai, Delhi and Bangalore is best suited and are amongst the hot-spots for the property buyers. Also these three cities are having one of the best quality infrastructure and plenty of opportunities for job seekers and a great educational hub as well.

Ulani Uriah

Umar Nisar was born and raised in the busy city of Abbottabad. As a journalist, Umar Nisar has contributed to many online publications including PAK Today and the Huffing Post. In regards to academics, Umar Nisar earned a degree in business from the Abbottabad UST, Havelian. Umar Nisar follows the money and covers all aspects of emerging tech here at The Hear Up.

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