The Best Four Cities in Maharashtra to Invest in Real Estate

 

Maharashtra is becoming a hub for real estate investments, thanks to its robust job market, reputable educational institutions, and growing connectivity. The state government’s initiatives like Make in Maharashtra and the Maharashtra Industrial Policy (MIP) have increased the demand for real estate in the state. Moreover, several schemes like Atal Mission for Rejuvenation and Urban Transformation (AMRUT), Smart Cities Mission, and Nagar Utthan are expected to have a positive impact on tier II realty in the state over the next five to ten years.

Here are the top five anticipated real estate hotspots in Maharashtra:

Mumbai

Mumbai is India’s financial and business capital, making it an attractive investment location for real estate. In the first quarter of 2022, property registrations in Mumbai increased by 70%, driving up overall real estate sales by 49%. Some of the developing areas in Mumbai, including Andheri, Wadala, Chembur, Goregaon, Kanjurmarg, Ghatkopar, and Mira Road, could be 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 and improve the quality of life for Mumbaikars. As these initiatives 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

Pune contributes to 13% of the state’s GDP and is growing into a megacity with numerous industries, advanced technologies, and excellent connectivity. Pune offers homeowners a desirable Return-on-Investment (ROI) in real estate investment, making it one of the best cities in the state. 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. The city is already a popular destination for real estate investors and will only develop further after these projects are completed. 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 some 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. The city has emerged as the prime location in Maharashtra for purchasing real estate Thane due to its reasonably priced residential homes and top-notch connection to Mumbai. 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 and reduce the pressure on existing projects, 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 Thane. Raunak Maximum City and Puraniks IKIGAI Paramount are some of the top projects that enable this.

Nashik

The city of Nashik, located in the Western Ghats, is attracting property buyers from Pune and Mumbai due to its growing physical and social infrastructure. Despite having a low population density, Nashik is one of the fastest growing cities in Maharashtra, with urbanization driven by several sectors such as automotive, consumer goods, textiles, and IT services. With the Smart Cities Mission underway, the demand for residential properties is expected to rise, particularly around industrial areas like Ozad, Ambad, Sinnar, and Satpur. The real estate market in Nashik is shifting from investor-driven to end-user-driven due to improved civic infrastructure and the presence of educational institutions. Projects like Ekta Greenville and Ekta Greenville Villas are in high demand. When choosing a city for real estate investment, consider factors such as market price trends, upcoming projects, connectivity, and the reputation of the builder. It is advised to choose a builder with a good track record and reputation to ensure successful investment.