per-capita incomes in the country. Due to the ultra-progressive policies, well planned industries and infrastructure, high investment and intelligent development, it has become one of the most exciting destinations in India.
Kochi is the commercial capital of Kerala and a major tourist destination. Besides, it is witnessing a boom in the IT/ITeS sector as well. Coimbatore the big industrial centre in Tamil Nadu is becoming preferred location for the IT/ITeS industry. It offers excellent infrastructure, quality of life, highly skilled workforce and low cost of living.
Jaipur and Jodhpur — the major international tourist attractions — have an excellent connectivity to Delhi and other cities in the region, Jaipur is identified as a very promising city for BPO and IT industries. Visakhapatnam is a major port and industrial centre, and the hub for petroleum, steel and fertiliser industries. In addition to the biotech SEZ, it also hosts an IT SEZ.
Chandigarh, the capital of Punjab and Haryana is one of the most well-planned cities of India with very high per-capita income. The Technology Park has put it on national IT and international outsourcing sector map, says Limaye.
Another real estate consultancy Knight Frank India has drawn up an advisory report, which claims to address the need of the home buyer from an investment point of view over the next five years i.e. 2013-17. The report suggests 13 local areas in 5 major well-known regions across the country — Mumbai, Delhi-NCR, Bengaluru, Chennai and Pune.
“With property options ranging from Rs 3,200 per sq ft to Rs15,000 per sq ft and investor returns in the range of 18.6- 29 per cent annually, the residential real estate will emerge as a promising asset class for the next five years,” says Gulam Zia, executive director, Knight Frank India.
The final call
Various studies by real estate professionals and consultancies, both global and local, show that different drivers would impact the demand-supply gap and hence the appreciation. These reports can only suggest the possibility of an outcome but by no means can it guarantee one.
Over the next couple of years, development in these hot-spots would increase, which in turn would reduce the gap between local demand and supply resulting in slower appreciation or even stagnancy of prices. One may end up missing the investment bus then. There is, however, no foolproof way to predict the behaviour of the real estate markets. Professionals can only