Top 10 Prime Residential Locations in India

Real estate is amongst the biggest investments of a person’s life. Having an own house in a swanky, high end locality is in everyone’s wish list. But property in prime residential location is also a major decision that will cost a fortune.

Here we have a list of the top 10 prime residential locations in India which are the key cities undergoing rapid pace of development and are expected to grow further in the coming years.

1. Noida: Noida or the New Okhla Industrial Development Authority is the most systematically planned city in NCR. Since the city houses some of the major corporate offices, and generates huge employment opportunities, the demand for housing is always increasing and has made it the most livable city of NCR. The best areas to buy property in Noida are Greater Noida, Noida and Noida Extension. Investments made here assure you of high capital appreciation and will fetch good rental returns on the completion of these projects. The good infrastructural development, availability of amenities like continuous electricity and water supply, metro connectivity and presence of the prime social and civic utilities of life like schools, colleges and hospitals make Noida real estate the most appealing investment destination.

1. Gurgaon: The millennium city is an important realty market of NCR since Gurgaon real estate has an amazing influx of vibrant commercial and residential developments. The city is expanding at a fast pace and the major factors contributing to it are its excellent connectivity, infrastructural development, wide variety of affordable housing options, and promising growth prospects. The presence of several multinational companies, startups and millions of people moving to the city for better career options are the other key drivers boosting the residential realty market of the city. NH-8, Sohna Road and Sector 43 are the prime spots for investment in Gurgaon as the properties here are anticipated to appreciate by approximately 10% thus making it a profitable proposition.
2. Bangalore: The city is a perfect combination of modern living and traditional touch and is quite famous for its regular traffic jams and pleasing climatic conditions. Property in Bangalore promises to yield huge returns on investments made depending upon the location and type of project. Since the market here is not seller driven there are chances for negotiations by the buyers. The prime locations which have a progressive real estate market are KR Puram, Hennur, Narasapuram and Indira Nagar. Hennur, an upcoming residential area in north Bangalore, yields high returns on investments. Narasapuram is a locality well suited to IT professionals since their working place lies close by and is even profitable for those who want to rent out their homes. In the eastern part of Bangalore, KR Puram and Indira Nagar are the most sought after residential areas.

4. Hyderabad: After a prolonged slowdown due to global recession and state bifurcation, Hyderabad real estate is showing some positive signs and is expected to have huge inflows of investments in the coming years. The city’s growing economy, energetic workforce and booming IT/ITES industry is giving a much needed boost to the residential and commercial developments. It is one of the most affordable cities in the country, as compared to other metros, that offers properties in the desired budget ranges. The main three areas for residential investment that promises huge returns are Appa Junction, Kukatpally and Gachobowli.

1. Kerala: Kerala real estate is an emerging destination due to factors like easy availability of funds for investing, growing population, and changing lifestyles of people who plan to own a home at much earlier stages of life. The state due to its rich traditions makes an ideal tourist destination having amazing places offering lovely views. The main areas for investment in residential projects both in terms of demand and value are Marine Drive, Kakkanad, Panampilly Nagar, Thevara, Kadavanthra and Edapally. Areas like Maraikulam are attractive investment hotspots due to their proximity to prime locations of the city. The star area of the state "Kochi" has ample of budget projects and the area has grown exponentially due to more and more people moving to Kerala and occupying very possible catchment of the state.
2. Mumbai: The city being the financial and entertainment hub of the country, is the most sought after location for property purchase. Thousands of people move to the city with a dream of living big and millions already residing here look for good job opportunities, hence the demand for residential real estate is always increasing. Investing in property in Mumbai is always a profitable option because with increase in demand the real estate rates are expected to appreciate in future. Navi Mumbai and East Central Suburbs are the favorite investment destinations as these areas have big townships housing luxury apartments and are well connected to prominent parts of the city.
3. Pune: It is one of the best places to reside in with a promising infrastructure development and better living standards as compared to other metros. Proximity to Mumbai and the prosperous employment opportunities have accelerated the realty activity in this once sleepy city. Pune is considered to be amongst the best realty markets in the country and property in Pune has a mix of both luxurious projects by top notch builders as well as affordable housing segments. The top residential localities in Pune giving a good capital profit due to their good connectivity and rapid development are Wagholi, Wakad and Kalyani Nagar. The Mumbai Pune Expressway and the year round pleasant weather have made it a desirable destination for even out of town homebuyers.
4. Ahmedabad: Gujrat’s realty hub Ahmedabad is amongst the most preferred real estate places in the country due to the numerous job opportunities offered here thus including it in the list of the highly populated cities of India. Ahmedabad real estate is mainly an investor’s market and the developers try to attract the buyers by offering them huge discounts and schemes. The city being an industrial hub has a lot of migrant population working here. Good Infrastructural developments in the form of GIFT smart city, bullet trains, huge investments pouring in the city by NRI’s and non-resident Gujratis and the supportive and stable nature of the government have given a boost to the residential property market in Gujrat. The city is exemplary of organized and fast paced development in the state.
5. Chennai: It is one of the safest and desirable residential cities of the country and is mainly an end user driven market. The OMR provides peaceful environment and lovely views making it an appealing investment proposition. For those interested to buy property in Chennai, Tambaram is a popular residential area due to its steady urbanization and burgeoning infrastructure followed by Poonamalle High Road. Outer Ring Road due to its mega townships is also an upcoming investment market.
6. Goa: Goa due to its picturesque charm and holiday feeling is another prime residential destination in the country. Goa real estate is mainly divided into two markets – North Goa for investment purposes whereas South Goa having affordable housing segment is for prospective home buyers. Increasing purchase power, availability of large land parcels, unexplored locations, lesser property rates are the key factors why large number of investors and High Net Worth individuals are investing in this rapidly growing real estate market. Developers both local and national are coming up with wide variety of accommodations ranging from villas to duplex, semi duplex, single floor apartments, beach facing or river view apartments or large or medium sized bungalows fully loaded with best-in-class facilities.

The above mentioned areas are at present the best options for property investments and promise high returns in future. These cities have a progressing residential real estate market based on their infrastructure, lifestyle, rental returns and employment opportunities.

Umesh Kumar is an expert real estate writer. He has around 5 years of experience in Real Estate Market.