To identify safer and more convenient areas where women can live, work and relax in in our cities, we focus on some critical real estate factors.
JLL’s City Momentum Index (CMI) 2017 puts Bengaluru right at the top of the world’s 30 most dynamic cities, with India being home to six of them.
The top five hotspots for residential property investment in the country today are Mumbai, Bengaluru, Hyderabad, Ahmedabad and Chennai. These cities are more or less regulars on most hotspots lists, but there is a sound rationale behind their consistent performance year after year.
While the areas within metropolitan limits will be saved from land devaluation due to their high-demand and low-supply scenario, their poorer cousins – the fringe areas – will see an impact after a year or so. As land prices ease in these areas, ticket sizes of apartments are also expected to come down.
The real estate markets in India seem to be aligning themselves to market realities in more ways than one. For the first time after 2008, residential apartments sold across India in the first three quarters of 2016 have been higher than new units launched in the same period. The current residential sales data indicates a continued stability in prices in the near future, denying market pundits’ recent predictions of heavy price corrections.
The city’s residential market witnessed a price appreciation of 5.2% (y-o-y) in 2015 and is expected to see a 4% price rise in 2016.