Hot property destinations for 2007

A booming economy, easy availability of loans and plenty of projects to choose from are perhaps some of the reasons for the property market shining bright. Year 2006 has come to an end and if you're waiting for the right time to buy some nice cozy place under the sun, Moneycontrol gives you a lowdown on the areas across the country that hold the most promise and the reasons as to why they hold high growth potential. 

According to Sajeet Narain, Managing Director, 'Narains Corp' International Properties, all Tier I cities will continue to remain a hot favourite in 2007 too thanks to the influx of foreign fund, multinational companies, FDI, better infrastructure among others.

But then if Tier I cities are out of your reach you could consider investing in the surrounding locations. Adds Narain, "A good place to invest in any Tier I city, is the location surrounding the city and the suburbs, as these areas historically have been in demand in most developing international cities. For instance the location surrounding Hyderabad is in demand as the rates in the city has increased. India's largest IT special economic zone is also going to be set up in the outskirts of Hyderabad which will help the residential demand to grow in the surrounding areas."

Sandeep Sadh, CEO Mumbai Property Exchange.com also believes that a lot of the growth will be driven by developments in the IT and ITES sectors.

Moneycontrol lists down hot locations that a mix of experts feel will be the best bets in 2007.

Tier I cities:

Areas	Reasons
Mumbai	Growing infrastructure, relatively transparent property deals, entertainment and financial hub.
Pune	Growing IT and ITES companies, good infrastructure, better quality of life than metros
Bangalore	Increased demand from IT/ITES sectors, growing expatriate and returning professional NRI's, infrastructure development
Hyderabad	Increased impetus on IT and ITES sector, quality residential housing, affordable compared with other Tier II cities, infrastructure development
Gurgaon/    Noida	Proximity to Delhi, better connectivity with high speed highways, impetus on IT and ITES sector
Chandigarh	One of the best planned cities, government policy towards future development of IT and ITES Sector, improved infrastructure, easy connectivity to Delhi,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Get a complete list of tier II cities on page 2...