The real estate
advisory company Knight Frank, report gave a list of hot investment locations
across India along with an estimate of their appreciation over 5 years.
Highlights
of Knight Frank Report..!
* According to the
survey, performance of IT & ITeS industry will have a major bearing on the
real estate market in cities like Pune, Bengaluru & Chennai.
* In Mumbai, Ulwe,
Wadala and Chembur will witness price appreciation of 145 per cent, 133 per
cent and 125 per cent respectively.
* Noida Extension and
Dwarka Expressway in Delhi-NCR will see an appreciation of 111% and 108%
respectively.
* In
Chennai’s Medavakkam, prices are expected to appreciate by 103 per cent from
the current Rs. 3,800 per square feet while prices in Pallikaranai could rise by
93 per cent.
.
* Hebbal and KR Puram
in Bengaluru will see an increase in prices by 94% and 91% respectively, the
report said.
The 13 hottest
investment locations in India are from Pune -- Hinjewadi, Tathawade, Ravet and
Wakad – according to a first-of-its-kind report prepared by Knight Frank.
Mr. Lalit Kumar Jain,
President, CREDAI
(Confederation of Real Estate Developers’ Association of India) said, “Pune’s market is driven by the IT
(information technology) and generation of huge number of jobs. Several
companies are recruiting people & some of them have announced their
expansion plans. That will generate umpteen number of houses resulting in a
price rise”
** Pune - Hinjewadi
will witness almost 100 per cent appreciation over the next5 years and reach the highest in Pune. The
report adds that the present average market rate of Hinjewadi is about Rs.
4,000 per square feet and over the next 5 years, it will be almost Rs.8,000 per
square feet - an appreciation of 100 per cent.
* * Tathawade will go
from its current Rs. 4,300 per square feet to Rs. 8,500 per square feet
(Appreciation of 98 per cent). The average price in Ravet is Rs. 3,950 per
square feet & will reach Rs. 7,800 per square feet (appreciation of 97 per
cent) over 7 years.
* * Wakad has average
market rate of Rs. 4,600 per square feet and will go up to Rs. 8,600 per square
feet (Appreciation of 91 per cent) over next 5 years.
