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01/18/2022
The real estate market is changing every now and then. Making an investment in a house is among the most rewarding experiences in a person's life. Perhaps you have already purchased the home you want and may be thinking of buying a second one. However, you could be planning to purchase your first home. In 2020, there was some sales. The market saw a dramatic rise from the fourth quarter of the year and increasing pace throughout the first two quarters that 2021 came around, the state was an extremely popular market for low-cost homes. Let's look at the states that are affordable to purchase a house.
In Maharashtra Major developments are taking place in Navi Mumbai due to the existence of an international airport planned for the near future. City and Industrial Development Corporation (CIDCO) has revealed a 100-hectare parcel for 10,000 affordable homes. 40 percent of the land is within Karanjade and Kamothe while the remainder of it is are located in Dronagiri. The housing scheme that was low-cost was referred to under the designation of SEZs (SEZs) like SEZs assigned to areas such as Kalamboli or Ulwe.
Navi Mumbai is well-planned from the beginning. In the past two years, it has become full of commercial, residential industries, and other sectors. There are a lot of townships, commercial plazas, and commercial areas with amazing connectivity of high-quality roads. In recent years the entire suburbs are linked by railways, and also have designated railway stations. The city also has the largest wholesale market for fruit, vegetables and dry fruit, referred to under the Agricultural Produce Market Committees (APMC). This makes it one of the most sought-after inexpensive options to purchase an apartment.
In the areas of Ulwe, Karanjade, Kalamboli, and Kamothe affordable homes are accessible to buyers who are willing to pay 30-50 lakhs. This is not the case in any other area in Mumbai.
Ahmedabad although a tiny city, has grown exponentially in the last decade. It is home to numerous infrastructure projects, and some of the most prestigious education institutions such as IIM, GNLU, IIT and many more. It has also developed the solar industry, which includes solar power as well as petrol, oil, and automotive.
The real estate market here isn't as large than the metros, however it's proportional to urban size. It has affordable homes that start from just Rs 35 lacs for 2bhk.
In Kerala especially, the capital city of Kochi, Kochi is growing rapidly, but still remains a budget-friendly residence destination.
Kochi is among the newest metropolitan cities. It is a stunning city on the coast with a mild climate. It is on a rapid-paced journey of infrastructural and residential development. There is now an elevated rail system that connects the city. It is now a flourishing IT hub that offers good job opportunities.
It was able to recover quickly from the pandemic and the median price is lower than Rs10,000 for sq ft, which makes it one of the most affordable cities to purchase a house.
In this state the capital city, Hyderabad has been experiencing a boom in development over the past decade.
Hyderabad is a different Tier one - I city with low levels of pollution as well as good weather and less traffic congestion during peak times. Hyderabad is one of the top three IT hubs in the country, offering great employment opportunities. It also has well-known universities and is full of the past, art and culture.
The giants of IT establishing themselves in the city that is dotted with elegant structures have transformed the style and appearance that the town. The sales of residential units rose by 300% YoY in the third quarter of the year. This is what makes Hyderabad among the most sought-after cities with affordable housing.
Within Madhya Pradesh, Indore is another city that is safe and has pleasant weather all year round. In the past several years, there has been an impressive growth in real estate prices in Indore. It is also known for its universities. It is not just a place for colleges and schools as well, but also an extremely prestigious IIT as well as an IIM city.
Thanks to the innovative actions of the local authorities, there's been a launching of several housing complexes that are affordable houses.
India as a whole is growing at an alarming speed across several states. You can also consider moving to a city with great work opportunities as well as other advantages in different cities to own an affordable house. Additionally, it could be a great investment.
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