The demand of property is rising all across the country
. The Indian cities are witnessing immense growth of the commercial and residential spaces. The economic growth of the nation has a booming realty market in most of the cities.
Although market is growing in all the cities but there are yet variations in the property appreciation of different places. The leading cities such as Delhi NCR, Bangalore, Pune, Chennai and Mumbai India are all very lucrative markets of investment but the profits may vary in all these cities to some extent.
The NCR cities such as Gurgaon and Noida are exhibiting much difference in the property rates. The property appreciation of Gurgaon is reported to be the highest amongst all the NCR cities. The appreciation of residential property in Noida has declined since the phase of recession. There are many cheaper/affordable projects being launched by the developers in the city.
The properties in Ghaziabad and Faridabad have shown immense growth but the rates in Faridabad are a bit higher than Ghaziabad. Amongst the leading cities the property in Mumbai is costlier than other cities of the southern India. A property investment growth in Mumbai and Gurgaon is highest among the Indian leading cities.
The Gurgaon real estate, has shown a very high property appreciation in the last 10 years. The appreciation of some of the residential properties is as high as 5-6 times the property purchase costs. The commercial properties are also very expensive.
The variation exhibited by the properties is due to the connectivity of the cities to other major cities. The infrastructural development of a city is a major factor that effects the property valuation of a place. The commercial growth of a city is the most important factor behind the property valuation of a city.
Gurgaon real estate is showing high appreciation because of the development of the city as an industrial and commercial hub. The number of IT& ITES firms in the city is more than any other city in North India, even the capital. Similarly the growth of Mumbai as a property investment hotspot is mainly due to the set up of the entertainment industry in the city.