Four Lucrative Destinations For Real Estate Investment In 2024
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Real estate is unarguably the most lucrative
investment choice, with property prices only increasing every year. Commercial
properties especially are in great demand these days with changing work
cultures resulting in the construction of business spaces that cater to a large
audience. However, the location of the property highly influences the
appreciation rate. Locations blessed with the best connectivity and proximity
to transportation networks, educational institutions, hospitals and other
essentials enjoy high appreciation.
If you want to invest
in real estate properties, here are a few locations that will never
disappoint you. These locations have all the features that make it an ideal
location. Let’s dive into the four prominent cities of Mumbai that qualify as
the best in terms of location,
connectivity, accessibility and more.
Invest in properties in these cities
for excellent returns.
Whether you belong to the middle class or the
elite class, real estate investment is something you should explore if you
haven’t already. Besides the promising returns, it provides a sense of security
and improves your financial health. Here are the four best cities to invest in
2024:
- BKC
The hub of commercial and trade operations and
a one-stop destination for food, art, culture and luxury residential, BKC
qualifies as the best location for real estate investment. The metro services
between Bandra Kurla Complex (BKC) and Worli are likely to be operational by
the second half of 2024, taking the location’s connectivity a notch higher.
This hints at a further increase in property prices. Now is the best time to
invest in the commercial
real estate of BKC so you can command higher rents and reap the maximum
benefits of the ongoing developments in the location.
- Andheri
Another prime commercial real estate
destination of Mumbai, Andheri is one of the most sought-after locations for
startups and corporate businesses. With many options to explore in traditional
office spaces and co-working spaces, Andheri is one of the first places that
comes to mind when thinking of commercial properties. Robust infrastructure,
dining and entertainment options, and overall good social amenities make Andheri a preferred choice for commercial
real estate investment. Both Andheri East and Andheri West are ideal
locations to invest in.
- Thane
Situated in suburban Mumbai, Thane is largely known for its residential
projects. However, commercial real estate too has witnessed a boom
lately. Thane enjoys easy access to Mumbai with its efficient road and railway
transportation networks. With co-working spaces gaining popularity, Thane has
attracted the attention of many startups and small businesses.
- Lower Parel
Easily accessible from Worli, Mahalakshmi, and
Nariman Point, Lower Parel’s commercial real estate
is flourishing. From luxurious malls housing international brands to renowned
residential projects, Lower Parel has it all. With work-life balance gaining
attention of late, people are seeking offices near their residences to escape
long commutes. Lower Parel serves as an ideal destination for such individuals
and investing in commercial properties here will prove to be the right decision
in the long run.
Investing in commercial properties
of cities discussed here will strengthen your investment portfolio. Rental
yields increase steadily and owners of properties will register profits a few
years down the line. We hope this article motivates you to make an informed
decision.
Article authored by: Team Proptranxact
Date: 19th February, 2024