With year 2013 just around the corner real estate investors across the country seems to have decided where to put in their money in the coming year. If results of a survey Investments in 2013 , are any indication of investment patterns in India, then majority (nearly 25 per cent) of the prospective home buyers across the country prefer Mumbai for their real estate investments. Delhi NCR follows at the second spot with 22 per cent respondents selecting the capital city.
While Delhi is the capital state Mumbai is the financial capital of the country. “Any financial destination is bound to grow in terms of capital appreciation,” says Manoj Goyal, director, Raheja Developers. “This works in favour of both Mumbai and Delhi NCR. Particularly in Mumbai, due to the huge gap between demand and supply, the scope of appreciation is always high. This makes it an ideal investment destination in spite of high realty prices,” he adds.
Further a large number of investors are looking to put in their money in emerging suburbs of Mumbai city. “Budget housing is a growing trend in the far flung suburbs of Mumbai. These locations not only offer properties at affordable rates as compared to the main city but also ensure high return on investments,” explains Vijay Lakhani, MD, Lakhani Builders.
Delhi, on the other hand, still has a lot of scope for economic and infrastructural development. “In the last 10 years Delhi NCR has witnessed the maximum foreign direct investments in various industries. Thus the city has been gearing up for a lot of economic activity creating increased job opportunities,” adds Goyal. Thus the scope of further growth coupled with availability of jobs makes it a coveted real estate destination.
Younger generation have large disposable incomes that they want to invest. Thus they prefer to pay EMIs on their own house rather than paying rents while living in cities like Mumbai and Delhi for their work. This was also evident from the survey which revealed that almost 50 per cent of the respondents want to purchase a home for self use. High property prices, it seems, is no limiting factor for those contemplating about property investments in Mumbai and Delhi NCR real estate. Thus increased scope for capital appreciation in Mumbai and economic growth in Delhi is set to drive real estate investments in 2013.
Iridia Noida Sector 86