Hot spots for residential realty
“The demand creation in such cities is a reflective of the economic strength that these cities have, and that it attracts new settlers as well as creates conducive environment for natural population growth.” says Sanjay Dutt, executive managing director, C&W, India.
The low-end segment is expected to see fresh demand of approximately 3.62 lakh units in these cities in the next five years. The top on the list of eight regions is Ahmedabad followed by Bangalore, Chennai, Hyderabad, Kolkata, Mumbai, National Capital Region (NCR) and Pune.
This data indicates not just the possible demand-driven profit locations but also the segments to invest in and is calculated on the basis of past trends for population, household growth and income classification. This does not take into consideration the existing unfulfilled demand by those without homes, living in congested or dilapidated structures, living in rental houses, demand from NRIs or those wishing to purchase second or holiday homes for use or investment.
Jones Lang LaSalle India (JLLI), has adopted another framework and has put together a list of non-metros and emerging cities. In western India, Ahmedabad, Jaipur and Jodhpur are suggested while in the north, Chandigarh is favoured. In the south, it suggests Kochi and Coimbatore and Visakhapatnam in the east
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