Investing in a new home, in all likelihood, is one of the most significant investments you will make in your life. That’s why every step must be taken with extreme care. But before you start planning your EMIs and checking your home loan eligibility, it’s prudent to consider some essential things – location being the primary one.
Well, if you’re in a similar predicament, here are the top cities in India for buying a property.
Mumbai
The urban allure of the metropolis makes it the best place for a new home investment in 2023. India’s financial capital has always been the prime consideration for many new homeowners looking to shift to a new city. The main reason behind its popularity is the opportunities it offers. It is the epicentre of start-ups, big businesses, art, Bollywood, and more.
Apart from employment, the city also provides many recreation avenues for its inhabitants. From beaches to mountains, nightlife to weekend getaways, the city has it all. It is also one of the safest places in India for women. This glorious standard of living has come at a price, particularly that of the property prices, which continue to rise. However, the city has many lenders who provide housing finance at low home loan interest rates.
Hyderabad
Given the tier-1 city’s world-class infrastructure and connectivity, Hyderabad is on its way to becoming the go-to destination for people looking for a decent quality of life.
Hyderabad is a gentle and peaceful city that promotes and provides safe living conditions. One uniquely positive thing about the capital city is that the population is evenly divided in the town, leading to minimal traffic congestion and crowding during rush hours.
Lastly, low pollution levels, good schools, and a thriving job market – IT, retail, manufacturing – are some other essential factors that make the southern city one of the best Indian cities to invest in.
Bengaluru
Once, the city of Bengaluru was known to be a quiet city, often called the ‘Pensioners Paradise in the 1970s.’ Fast forward 30 years, the town has rechristened to the Silicon Valley of India, courtesy of the massive IT investments over the years.
Apart from the IT presence, the city has also developed a cosmopolitan vibe due to the proliferation of malls, clubs, and tourism. Even after all it has to offer, the cost of living in Bengaluru is still less than that of Delhi or Mumbai, making it one of the, if not, the best place to make a home investment.
Delhi
The list wouldn’t be complete without the inclusion of the capital city, Delhi. Though the real estate market hasn’t done very well here in the last few years, it is witnessing a rise recently. Given the ubiquity of the metro, and its own unique cosmopolitan vibe, Delhi’s standard of living rivals that of Mumbai in terms of job opportunities and recreation.
Also, the city boasts of property rates much lower than that of the financial capital, which is why investing in a property in Delhi is a smart move. If you’re looking to opt for a home loan, don’t forget to plan with a home loan EMI calculator first.