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  • Writer's pictureKaran Fernandes

Which current Indian city should I buy a home in?

Updated: Feb 23, 2021



The current real estate scenario?

2020 was an unprecedented year due to COVID-19, causing all-round upheaval. Housing sales and new launches bottomed out against the previous peak of 2014. However, contrary to initial predictions, the residential segment was quick to pick up momentum, especially in the last two quarters of 2020 on the back of growing homeownership sentiment catalysed by the exigencies of the pandemic. This pent-up demand was further accelerated by discounts and offers, low home loan interest rates and incentives such as limited-period stamp duty cuts in Maharashtra. Interestingly, the festive quarter (October-December) stood out among all four quarters in 2020, witnessing maximum sales due to reasons mentioned above.


Which Indian cities are ideal for investing in?


Mumbai

In India, Mumbai has always been a preferred city for investing in a home. “Mumbai, is known to be the city of dreams owing to the influx of people migrating from other states to the metropolitan city looking for career opportunities.


Mumbai Metropolitan Region (MMR)

The Mumbai Metropolitan Region is spread over 6,640 sq km and consists of nine Municipal Corporations. These include Greater Mumbai, Thane, Kalyan-Dombivali, Navi Mumbai, Ulhasnagar, Bhiwandi-Nizampur, Vasai-Virar, Mira-Bhayandar and Panvel.


Thane, known as the ‘City of Lakes,’ was once regarded as a significant industrial belt. However, in the last few years, it has transformed into a preferred real estate destination and one of the most urbanised MMR districts. Thane has slowly emerged from the shadows of Mumbai and has created its own identity with the city’s changing landscape. It has a preferred realty market due to the emergence of new business hubs and continuous infrastructure improvement, providing better connectivity to other MMR locations.


With the upcoming infrastructure developments, residential clusters and townships, micro-markets in Navi Mumbai are increasingly becoming popular among buyers.


Bangalore and Pune

According to the experts, along with the MMR, Bangalore and Pune are also great cities to buy a home in. In the present scenario, in our opinion, MMR, Bangalore and Pune, respectively, are among the ideal destinations for residential investments. Real estate investment opportunities must be evaluated more at a micro-market level than at a city level, or one may miss out on some of the best options.


Goa

Experts see Goa as an investment destination for people looking for a second home and among others NRIs have shown keen interest in the city’s real estate. Goa's serene location, quiet life and strong economic environment make it an attractive investment destination for many of the investors who are especially looking to buy a second home.


Is now a good time to buy a house?

Now that we know which city is ideal for buying a home in, the question arises—is now a good time to invest in a home? While stock market prices are at their peak, property prices are their lowest best with developers doling out multiple offers and discounts. Affordability of homes in top cities is also at its best. It is estimated to be 27% in FY21 as against 53% in FY12. The pickup in demand will soon cause prices to harden once COVID-19 stabilises. Also, there are lots of options available across budget segments for investors to choose from


Important Considerations

While there are plenty of options on the market, not all options in affordable and mid-segment housing are created equal and need to be examined closely. There is less guesswork involved in luxury properties which, almost by definition, are developed in good locations and by well-known developers. The landscape in the lower budget ranges is much wider and needs to be mapped carefully for the right opportunities.


To own Luxury Villa's or Apartments in Goa / Mumbai get in touch with KF Ventures.

Call / Whatsapp +91 9821577077







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