Bangalore emerges as the most preferred place for buying house in the ASSOCHAM survey
Owing to the connectivity, infrastructure and basic facilities, Bangalore has emerged as the most preferred destination for buying a house in 2014, according to the findings of a survey by the Associated Chambers of Commerce and Industry of India (ASSOCHAM).
A majority of the respondents, about 49 per cent, of the urban working class are keen to invest their surpluses in buying residential properties than commercial properties as the latter are beyond their means and require higher investments, as said in a statement by D.S. Rawat, ASSOCHAM Secretary General.
Bangalore is followed by cities like Mumbai, Delhi, Kolkata, entire National Capital Region (NCR) and Hyderabad. After Bangalore, says Rawat, “Mumbai occupies a special place in hearts of many Indians, who are attracted towards the city due to its diverse work force, employment opportunity, cosmopolitan culture and glamour”.
Mumbai (11 per cent) is followed by Delhi (10 per cent) with buyers willing to buy a property here. The survey also reveals that with a new international airport and proliferation of metro services to the NCR region, Delhi has also witnessed a healthy growth in the infrastructural development.
Kolkata (9 per cent), NCR (8 per cent) and Hyderabad (6 per cent) are the other key real estate investment destinations of 2014.
Beyond the top five cities, a preference for Dehradun (4 per cent) and Ahmedabad (3 per cent) has also been seen in the homebuyers, added Mr. Rawat.
“A whopping 65 per cent of the national home buyers want to buy a house for self consumption”, the survey added.
Source: The Hindu
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