We look at emerging areas away from metros that promise good
returns over the next few years
Buy a home for yourself this year. That's the message of
Union Budget 2013-14. The Budget has announced an additional tax deduction of
Rs 1 lakh for those taking a loan up to Rs 25 lakh to buy their first home this
financial year.
If you find the bait attractive enough, the Rs 25-lakh loan
cap and high property prices mean you have limited options if you cannot make a
big down-payment. One option is buying a house at places not far from metro
cities where prices are on the lower side. Even if you don't want to move away
from the main city, the high returns that some of these new locations promise
means the house can be used as a bridge to the one that you want to live in.
THE ALTERNATIVES
With improving connectivity, expanding cities and rising
property prices, more and more home buyers are looking at places close to metro
cities. Developers are also betting big on such locations.
Some emerging locations are Manesar (Haryana), Neemrana
(Rajasthan), Dharuhera (Haryana), Bhiwadi (Rajasthan),. Knight Frank India, a
property consultancy, listed Manesar, Bhiwadi, Dharuhera as "hidden
gems" in a report released towards the end of last year."Buying
property in a location that is well-connected and an upcoming industrial hub is
apt not only from the end-user point of view but also from the investment point
of view,
"The Delhi-National Capital Region (Delhi-NCR) should
be a good bet, but buyers need to be aware of two situations-one, economic
development in the area and, two, rise in inventory with a large number of new
properties getting ready,
To attract both investors and first-time buyers, developers
are offering properties in a number of destinations close to metro cities. Some
of these are likely to give good returns over the years .
Bhiwadi and Dharuhera are well-connected with Gurgaon and
Delhi through National Highway 8. These are at a distance of around six km from
each other.
"I will take Bhiwadi and Dharuhera as one region. These
have become industry hubs on the Delhi-Mumbai Industrial Corridor (DMIC).
Companies such as Honda, Gillette and Lafarge have set up plants there and many
others are considering expansion (there). Infrastructure such as schools, malls
and hospitals is coming up in a big way and will make life easier,"
The DMIC project aims to create new industrial centres in
seven states-Delhi, Uttar Pradesh, Haryana, Rajasthan, Madhya Pradesh, Gujarat
and Maharashtra-through better rail and road connectivity. It is aligned with a
proposed rail freight corridor between Delhi and Mumbai. In this year's Union
Budget, the government has expressed willingness to provide additional funds
for the project. The first phase is slated for completion in 2018.
"Bhiwadi has properties priced between Rs 15 and Rs 70
lakh while properties in Dharuhera start from Rs 15 lakh and go up to Rs 1
crore and more. For More Information Kindly Visit us at:
http://plotsandflats.com/
