Real estate market in India has witnessed multi-level growth in the past few years. As per the sources in the industry, the upward graph has no sign of reaching down or even no chance of coming flat for next few more years. A lot of activities that include residential complex development, commercial real estate development, retail space development, etc have driven the Indian real estate market.
Apart from metro cities, property prices of small cities in India are rising fast. Owing to tech boom across the country, property in Indian is attracting more investors, most of them from abroad. According to the sources in the realty industry, Indian real estate is rising at 30 per cent per annum.
Due to rising property prices, buyers are looking towards investment in two- and three- tier towns where property rates are growing with rapidity. Gurgaon real estate is one of the most demanded properties in India due to its proximity to Delhi and emergence of a large number of national and multinational companies.
It would not be unfair to say that properties in NCR are one of the most demanded properties in India. People are purchasing properties in Delhi, Gurgaon, Noida, Faridabad and Greater Noida. Property prices of some areas in Delhi, such as Dwarka, Mayur Vihar, Patparganj, etc are increasing constantly. Real estate prices of Greater Noida are also increasing due to the metro network and upcoming international airport and Commonwealth Games.
Mumbai is one of the metro cities in India where property prices are at an all time high. This city is also witnessing an increase of 40 per cent in property prices per annum in and around many of its locations. Due to increasing property prices in the main town, real estate developers and buyers are moving towards more affordable options in the suburbs, including Navi Mumbai, etc. Real estate prices in Chennai are also on increasing trend due to emergence of IT and ITES companies.