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Surat and Ahmedabad are among the 10 affordable property markets in India where flats are available within Rs 30-50 lakh. According to real estate services company JLL India, these cities offer profitable low-budget real estate investment opportunities.
The other cities in the list include Pune, Navi Mumbai, Nagpur (Maharashtra), Jaipur (Rajasthan), Hyderabad (Andhra Pradesh), Kochi (Kerala), Ghaziabad (Uttar Pradesh) and Coimbatore (Tamil Nadu).
“These towns and cities offer a wide spectrum of investment options in real estate with relatively low property price levels, providing the incentive for future capital appreciation and healthy returns,” said Anuj Puri, chairman and country head, JLLIndia.
The latest JLL report terms Ahmedabad as a fine model for other cities in the country, of organised and fast-paced development.
“With huge investments pouring into the state, rapid infrastructure development in the form of bullet trains, GIFT Smart City, the entrepreneurial nature of the population and a supportive, stable government, everything is going right for Ahmedabad. The oil, gas and energy industries, petrochemicals and automobile manufacturing industries are some of the major factors driving demand for real estate in the ci ty,” said Puri.
The maximum supply of properties within the range of Rs 30-50 lakh is along the SG Highway and in areas such as Gota, Bopal and Satellite.
Rapidly improving infrastructure initiatives have helped modernize Surat significantly .Micro-markets in New Surat such as the entire stretch of Dumas Road are dotted with a variety of malls, multiplexes and top-notch residential apartment projects.
“Even though Surat is not as populated as Ahmedabad, the excellent road network within the city – defined by several flyovers and wide roads – mean that this city will see rapid transition in times to come,” the JLL report says.
Source: The Times of India, Ahmedabad