Mumbai: India has emerged as the prominent choice for the new homes. Today many people are willing to invest in the Indian real estate segment. This has been made possible due to its vibrant growth and robust economy. It has affected the real estate’s price making it reach greater heights.
People are willing to invest more in houses than previous years. In 2024, the house sales are at an all-time high. Shravan Gupta, MGF Group feels it’s the right time to invest in homes due to heightened demand. When buying any apartment, the first thing that comes to mind is its location.
Location is the most prominent factor in determining house prices. It helps builders in fixing the final price. In 2024, areas close to the prime areas have risen in demand drawing more players in the sector. Experts believe it is the right time to make new buildings in prime locations. As such areas are bound to attract more HNI and NRI investors.
The Neighbourhood angle:
The first thing that comes to mind while buying, leasing or selling the property is its location. A location close to the Business district, prime areas influence the price of the house. Shravan Gupta, MGF Group, believes houses in such areas are likely to attract more investors and buyers. Another angle is the price elevation in areas. The area with more premium amenities, schools, workplaces and well-educated residents will have a high resale value. Similarly, these areas will always yield a good rental income too.
The area with fewer amenities and infrastructure will yield less rental income and find few buyers. It is vital to study the area before buying the property. Experts believe if you aim to invest, it’s better to buy a house close to prime locations where demand will always rise.
Transportation angle:
The value of a property increases when it has good road and transport infrastructure. The houses in these areas will attract more buyers, investors and real estate developers. Market experts say these areas will always be in demand. In a city like Mumbai and Delhi, real estate prices are always high in these areas and will grow more in 2024.
Hence, transport is the second most important factor in determining the price of a house.
The future of residential complexes is very bright in India. This has been made possible due to government policies and India’s rising GDP. Also, the NRI investment has uplifted the Indian realty’s morale making it the global hub. These have boosted the price in all locations in cities like Mumbai, Delhi and Hyderabad. It is the right time to invest in your dream house and be a part of a new global story.
