Knight Frank, a real estate consultancy firm has come out with a list of 13 areas in five cities across India, which over the next five years would emerge as the “Best Real Estate Investment Destination“.
Ulwe in Mumbai tops the list with expected appreciation of 145% in next five years, with Wadala in Mumbai closely following at 133%. Noida Extension in NCR seems to be the best place to invest in this region with expected appreciation of 111%
Below is the list with the expected percentage appreciation in next five years:
- Ulwe, Mumbai – 145%
- Wadala, Mumbai – 133%
- Chembur, Mumbai – 125%
- Noida Extension, Delhi – NCR – 111%
- Dwarka Expressway, Delhi – NCR – 108%
- Medavakkam, Chennai – 103%
- Hinjewadi, Pune – 100%
- Tathawade, Pune – 98%
- Ravet, Pune – 97%
- Hebbal, Bangalore – 94%
- Pallikarni, Chennai – 93%
- Wakad, Pune – 91%
- KR Puram, Bangalore – 91%
I am not sure if these predictions would hold true at the end of five years as real estate in itself is highly unpredictable. Who could have imagined that there would be such a fiasco in Noida Extension last year? Even now things have not settled down completely.
But five years is a long time and there are several assumptions behind this kind of research. So even if one of the assumptions fails, the returns may not be as predicted.
This list would surely help builders, developers and brokers to sell a few more units in already stagnant market. My suggestion would be to take the above list with a pinch of salt and use your own research to find the property worth your investment.