Properties likely to appreciate by 91-145% in 5 yrs
According to Knight Frank report, the real estate sector will continue to remain a good investment destination with properties in several residential areas in selected cities likely to appreciate by 91-145 per cent over the next five years.
High possible return on investments ranging between 18.6% and 29% per annum over the next five years will emerge as a key driver for investors’ interest in the sector, states the real estate advisory firm’s report.
The report highlights that despite the slump in the real estate market, Mumbai will continue to be the most promising investment destination followed by Delhi-NCR, Chennai, Pune and Bangalore. Price appreciation in the range of 91 to 145 per cent is expected to happen in 13 destinations across these five cities.
Ulwe, Wadala and Chembur in Mumbai are expected to observe appreciation of 145%, 133% and 125% respectively.
Delhi-NCR, Noida Extension and Dwarka Expressway will see an appreciation of 111% and 108% respectively and in Chennai, Medavakkam will see 103% and Pallikarni could rise by 93%.
Pune’s Hinjewadi, Tathawade, Ravet and Wakad would witness rise in prices by 100%, 98%, 97% and 91% respectively mainly due to the IT and ITeS sectors.
And Bangalore’s Hebbal and KR Puram could see an increase in prices by 94% and 91% respectively, estimates the report.
Bangalore, Chembur, Chennai, Delhi NCR, Dwarka Expressway, Hebbal, Hinjewadi, IT, ITeS, Knight Frank, KR Puram, Medavakkam, Mumbai, Noida Extension, Pallikarni, Properties, Pune, Ravet, Real Estate Sector, Real-estate market, Residential areas, Tathawade, Ulwe, Wadala, Wakad
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