Top 3 Emerging Metropolitan Cities in India to Buy a Home

A home is a worthy investment. However, the worth of this investment can higher or lower based on the most fundamental rule of real estate – location, location, and location. The location of the property you buy determines the price you will have to pay or how much personal or home loan you will need to buy said property. 

Apart from location, another factor that determines how profitable your property investment is the nature of the property you buy. In recent years, the real estate market in India has witnessed a shift in more buyers opting for homes than plots. And they are going after locations that aren’t Mumbai or Delhi. 

There are two reasons why this trend has emerged. First, home loans are making it easier for people to afford their dream homes. Home loans taken to finance properties in smaller metro cities don’t burn a hole in your pocket. 

Additionally, Home loans are also making it easier for those who invest in property to become renters to get an attractive return of investment on their purchase in smaller metropolitan cities. Secondly, with the rising demand for jobs, more of the populous is migrating to major cities. Thereby, the need for homes, rental, or owned, is growing by the minute. 

If you’re someone who is interested in getting their dream home with a home loan or are someone who wants to invest in property, here are the top cities in India you should be looking at:

1. Thane and Navi Mumbai 

There’s no denying that the maximum city is getting saturated in terms of real estate. Additionally, property prices have reached a record high in Mumbai, making it impossible for the middle class to buy a home even with a home loan. Hence, the middle class, as well as those who want more spacious homes, are now flocking to Navi Mumbai and Thane to seek residence. 

There are several reasons why you should consider Thane and Navi Mumbai as a location for your dream home. Apart from the fact they are in close proximity to the Indian city that never sleeps, these cities are also developing at a fast pace. Mumbai’s new international airport is set to call Navi Mumbai’s Panvel it’s home. Moreover, the Harbour Line that connects Panvel and Thane to the mainland is set to receive a boost too. In addition to better commute and travel, Navi Mumbai and Thane are also emerging as the next big financial corridor in the country, with several big corporates already calling them their home base. 

With new businesses and enhanced proximity to South Mumbai, Thane and Navi Mumbai have also attracted developers who now have some of their most ambitious projects in the area. All of the above reasons make this section off of Mumbai a highly rewarding destination to buy a home with a low home loan EMI.

2. Bangalore

Bangalore continues to boom and will keep growing in the near future. The city’s traffic problem is being tackled by upgrading its rail system. Along with this, the city is also making efforts to be environmentally-friendly. As the city brings home more corporates, it also attracts new settlers. Therefore, it is a city with rising demand for homes with home buyers eager to get a home loan to call the city their permanent home. That’s why it was voted as one of the best cities to get a home loan in India in 2019. And will be earning the title this year as well.

3. Pune

Pune was known as a hotspot that attracted retirees. However, over the past decade, the city has witnessed a shift, accelerated its growth, and emerged as an attractive option to home buyers. That’s because it is close to Mumbai, has a burgeoning corporate presence, and is attracting millennials who want an urban lifestyle. Moreover, given property is not as expensive in Pune as it is in Mumbai, people are able to afford spacious and luxurious homes at prime locations at low home loan rates. 

As a result, Pune has gained the title of being one of the best alternatives to Mumbai and other big metropolitan cities in India. And it will continue to give Mumbai tough competition as it betters its infrastructure while attracting more MNCs to establish a base along its business corridor.

While these metropolitan cities will serve as great alternatives to get a dream home, those looking to make an investment in a home through an affordable home loan can also look at developing cities like Kota, Agra, Nagpur, Ahmedabad, and more. 

No matter which city you decide to buy a home in, a home loan will be the best way to make a property purchase. Once you have picked out a metropolitan city, you’d like to inhabit, head over to ApnaPaisa.com to know everything you need to know about home loans. Know how you can get a home loan and how it can help you get your dream house in one of the cities mentioned above. Visit ApnaPiasa.com for all your home loan needs today!