Everyone is aware of the fact that home loan rates are now down and property prices are not developing at all. We also know that the new Real Estate (Regulation and Development) Act (RERA) has promised to safeguard the buyer against delays and frauds caused in most of the situations. Also the ‘Indian’ real estate market is showing a price drop for the very first time. This has not happened in many years.
Market Value: Now market value doesn’t have a proper definition. It is nothing but a general opinion of what that property can sell in this competitive environment depending on the features and benefits of that property. Also while determining the market value the other factors that have to be considered are overall current supply and demand as also the selling of other similar properties in equal condition. We can also say that, in a balanced market, market value and market price can be same.
Talking about the Best Real Estate property values in today’s market, the following are some of the hotspots that can be considered for investment.
Gurgaon: Gurgaon has been the topmost location today in NCR region where people prefer to have an abode. The reason is again very obvious, ample of opportunity to earn and a “Porsche” life culture. People from small towns in the north who are qualified enough to get a job, do try their luck in this city of dreams. And the best part is there are ample of property dealers and builders like KPDK Buildtech Pvt. Ltd. who can help you with handy projects within a variety of budgets.
Navi Mumbai: It has been observed and witnessed by the city that there is a tremendous shift in buyer’s interest. Buyers have shifted their interests from posh localities to the affordable neighborhood. Because of satellite towns such as Navi Mumbai, you will be able to get the benefit of good infrastructure as well as the fact that you can connect to the main city.
Mumbai: Posh areas in Mumbai are facing problems but areas such as Chembur, Goregaon East, Andheri West, etc. are low-cost locations. People are shifting to low-cost areas in Mumbai from high-cost areas.
Bengaluru: Areas near IT hubs are becoming more and more popular in big cities and people working in those IT hubs wants to live near their company or offices and therefore the demand for residential property in such areas has risen. Various residential properties have great value in Bengaluru and the demand for such properties is rising.
Hyderabad: Hyderabad is named as India’s best city and because of political stability, the government has pushed the real estate sector in this city and improved it. IT companies have returned to Hyderabad and therefore the demand for residential properties is rising here and has a good value. The residential demands are picking up close to the IT hubs.
Chennai Suburbs: This price-conscious city is looking for new developments in real estate sector. This city was always against high-priced properties. The CEO and Co-founder of Prop Tiger company once said that, “The Chennai real estate market is not doing well and only pockets of affordable housing projects are seeing some action”. But in Chennai there are various locations that attract good buyer interest.
Noida: The quality of real estate improved here because of the metro connectivity and the possibility of an own international airport, making Noida amongst the top cities where one can try their luck.