Top 4 Cities in Maharashtra For Property Investment Buying Guide

Maharashtra has become a popular location for real estate investments throughout the years  because of its growing connectivity, robust job market, and reputable educational institutions. The state government has implemented a number of beneficial programmes over the past several years, such as Make in Maharashtra and the Maharashtra Industrial Policy (MIP), which have helped to increase the demand for real estate in the state. 

In addition to the state government's plan to invest Rs 1,622 crore in 28 smaller cities infrastructure, the Atal Mission for Rejuvenation and Urban Transformation (AMRUT), Smart Cities Mission, and Nagar Utthan schemes of the Centre are anticipated to have a positive impact on tier II realty in the state over the subsequent five to ten years. Here are the top 5 anticipated real estate hotspots in the state:

Mumbai

Mumbai is India's financial and business capital. In the first capital quarter of 2022, property registrations increased by 70% driving up overall real estate sales by 49%. A number of developing areas in Mumbai, including  Andheri, Wadala, Chembur, Goregaon, Kanjurmarg, Ghatkopar and Mira road can end up being the best for profitable real estate investment. 

The Maharashtra government has accelerated development on infrastructure projects such as the coastal road, trans-harbor link, and metro network, with completion expected by the end of 2023. These infrastructural projects will significantly affect Mumbai's real estate market in addition to cutting travel times and improving the quality of life for Mumbaikars. These initiatives will strengthen Mumbai's position as an important Indian residential and business hub. As these infrastructure projects provide connectivity and convenience, the demand for affordable homes in Mumbai will skyrocket in the coming years. Some of the top ongoing projects in Mumbai are Irene and Kalpataru Elitus in Malad West and Shilpadatta in Chembur.

Pune

13% of the state's GDP comes from Pune. Due to its numerous industries, advanced technologies, and excellent connectivity, it is growing into a megacity. Pune is one of the greatest cities in the state to invest in real estate since property values there offer homeowners a desirable Return-on-Investment (ROI). Investments in real estate rose by 75% in 2022, and 2023 is expected to see a continuation of this pattern.

Key infrastructural initiatives like the Pune metro, which are anticipated to enhance residential and commercial real estate by enhancing convenience and connection, are the foundation of the city's growth today. The city expanded quickly after the Mumbai-Pune Expressway went into operation in 2002, making it the largest IT center in the state.

Pune, with its bustling infrastructure, is already a popular destination for real estate investors. In terms of real estate, the city is only going to develop, especially after these projects are completed. The city will witness a significant increase in traffic, particularly from the fintech sector. As individuals increasingly adopt eco-friendly lifestyles, the need for a greener metropolis will become a crucial tipping point for investors. Kalpataru Serenity, Kalpataru Jade and Kalpataru Exquisite are one of the biggest ongoing projects in Pune. 

Thane

Thane has been a prime location for real estate investment in India due to its affordability and connectivity to Mumbai. Because of its reasonably priced residential homes and top-notch connection to Mumbai, Thane has emerged as the prime location in Maharashtra for purchasing real estate. Significant economic and social infrastructure growth over the past few years has also raised investment rates.  

The growing number of large infrastructure projects has managed to raise the livability quotient as well as reduce the pressure on existing projects and lower transportation difficulties, resulting in higher investor activity and price increases. The abundance of reputable international schools and educational institutions, first-rate healthcare facilities, upscale shopping malls, and entertainment hubs within a sustainable green ecosystem are improving the community's quality of life and fostering connectivity with other areas of Mumbai and Greater Mumbai. Some of the top projects that enable this are Eternia at Kalpataru Parkcity and Kalpataru Paramount.

Nashik

Nashik's physical and social infrastructure is luring property hunters from Pune and Mumbai. Nashik, which is located in the foothills of the Western Ghats, is a popular retirement location in the state. Nashik is listed as the fourth fastest growing city in the state despite having a low population density.

Nashik's rapid urbanization can be attributed to the expansion of sectors including the automotive, consumer and capital goods, textiles, pharmaceutical, information technology (IT), and IT-enabled services (ITeS). Given that Nashik is one of the ten Maharashtra cities chosen for the Smart Cities Mission, it is anticipated that residential demand will increase, particularly around the industrial sectors of Ozad, Ambad, Sinnar, and Satpur. The city's real estate market is shifting from being driven by investors to being driven by end users as a result of improved civic infrastructure along the commercial belt and the presence of numerous educational institutions. Huge projects like Ekta Greenville and Ekta Greenville Villas are on top of this housing demand.

Bottomline

You need to consider a lot more while choosing a city for a real estate investment. Factors such as real estate market price trends in the city, upcoming projects, connectivity, and so on. The best strategy to invest in real estate in India is to select the best suitable property and city. The builder you choose, on the other hand, has a huge impact. As a result, it is advised that you select a builder with a demonstrated track record of success and a great reputation.