Builders expect affordable housing projects to be the most desirable among buyers in Bengaluru, Mumbai and Delhi NCR, given the property rates in these cities.
Call it by any name you want to – India’s financial capital, Maximum City, or the city of dreams and opportunity. One thing is sure – it is India’s most expensive housing market.
A recent report by JLL India, an international real estate consultancy firm, pointed out that sales for residential properties have remained strong, quarter after quarter.
After a protracted period where interest for real estate investment was concentrated primarily in the larger cities, we are now seeing a resurgence of the Tier 2/Tier 3 cities story in India.
It is perhaps the single most important purchase that anyone makes in their lifetime, and the realisation of a dream. But owning a home is also, in a sense, a basic necessity.
In the past 12 years (2006-2017) India has seen investments of USD 42 billion, while in the next 10 years (2017-2026) it is expected to see inflows to the tune of USD 58 billion.
Property buyers and sellers in metros, especially in upmarket localities, won’t need to pay additional tax if the difference between the agreement and stamp duty values of the property is less than 5 per cent.
An area which houses middle-class families will attract lot of unorganised retail outlets, while luxury destinations mostly juxtapose with high-end retail.