Top 5 Indian cities where you can buy best penthouses

31 October 2017

The introduction of RERA, GST and Demonetization might have slowed the affordable home segment in real estate but the luxury segment seems to have been performing just as good as always. Demand for luxury housing projects with extravagant amenities such as private access and high end customization seems to be increasing consistently in most of the metro cities. A significant number of expats too have poured their investment into the luxury segment of real estate. However, there are several factors that are attracting investment in this segment from home buyers. The most critical factor that drives traction in luxury home segment is location of the project. So, let’s take a look at the top 5 places where you would get the best value for purchasing a penthouse.  

Pune, Maharashtra

Pune, also known as the Queen of the Deccan, has become a top choice for those who want to permanently reside in India. This attractive location has got it all. With the economic living standards and the various opportunities for people from all walks of life, hordes of residential projects have been established in Pune.

Pune is a fast-growing metropolitan city due to which many IT companies have set up offices here. This is also an added advantage to eliminate un-employability. Hence, if you plan on buying a penthouse in Pune, you could be investing in the second Silicon Valley of India.

The Deccan Odyssey, Pune, has a very pleasant climate all year around. The city is covered in green, clean roads and small in size compared to the other metropolitan areas. Due to this, transport is never a problem, with the airport and buses at an arms stretch. You can travel one corner to the other in one and a half hour. The city is in close proximity to beaches, forts and hill stations. Also, compared to other cities, Pune is extremely safe at night.

Locations like Koregaon Park, Kalyani Nagar, Hadapsar, Wagholi and Wakad are few of the areas one can hope to invest and attain maximum benefits from this beautiful city.

A quick checklist:

• Pune has many IT companies to work at.
• Pune is green and luscious
• The variety of street food is endless.
• The weather is appreciable.
• The availability of transportation and less traffic makes life easier.
• Investing in a penthouse in Pune will be the gold you find at the end of the rainbow.

Bangalore, Karnataka

If Pune had a recent boom in IT industries, then Bangalore has already had its explosion of IT companies. The Silicon Valley of India, Bangalore or Bengaluru, is the land of hope. People from all over the country migrate to this state, looking for jobs, fun and to restart their life.

The garden city of India is one of the most popular choices for people to invest in for many obvious reasons. One of it is affordable and negotiable homes found all over the city, as the real-estate industry is extremely booming here. Bangalore is a dream venue for those who harbour a common dream. It is raining job opportunities in Bangalore. Speaking of rain, the weather is almost always the talk of the town.

Bangalore is one of World’s Top 20 cities that are best for any start-ups. So, if you plan on moving to Bangalore and starting a business, look no further. Another added advantage is the diligent bus service. The KSRTC will connect you to every corner of the city.

The culture, the language, the mindset of the people are what makes Bangalore a top choice amongst investors.

Residential areas like Whitefield, Koramangala, KR Puram, Halasuru, Domlur etc have been thriving areas for residents the past 15 years. No doubt you will find what you want in these areas.

A quick checklist:

• Bangalore has endless job opportunities.
• The real-estate industry has been booming since ages.
• The people and residents are friendly.
• Any locality in Bangalore is worth your money due to good facilities.
• The Bangalore Police Department is proactive in protecting its people especially the women. They are always at their top game.
• The people there speak at least three different languages, some even five.

Thane, Maharashtra

For those who cannot afford to buy a home in Mumbai, Thane is their immediate choice. It is not only a lucrative choice but also on top of the list for most the people living in Mumbai. It has a good social infrastructure and a rapidly growing real-estate industry, making it the top investment destination in India. The commercial areas in Thane have become on par with International standards.

It is located in the centre and is well connected via highways ensuring a stable connection to the suburbs. The Santacruz-Chembur Link road makes the travel time between Thane and Mumbai faster by 25 minutes from the previous 40 minutes.

Thane’s strategic location and realistic property prices make it a residential location that suits the likes and dislikes of new-age home buyers.

Areas like Pokhran road, Majiwada, Kolshet and Ghodbunder road are top priority as it boasts good schools, malls and healthcare facilities

A quick checklist:

• The temperature varies from 22-degree Celsius to 36-degree Celsius.
• Thane is filled with clear lakes and seasonal birds. It is called the city of lakes for a reason.
• This city has seen an exceptional growth in trade and construction activities.
• Well connected highways to all the major cities in its vicinity.

Gurgaon, Haryana

Gurgaon which is part of NCR or the National Capital Region is a well-planned city by the HUDA or the Haryana Urban Development Authority. Delhi has a name for its constant hustle and bustle and if you seek peace along with immense opportunity, Gurgaon is the place for you.

It is growing to be the largest industrial metropolitan city. Along with it being the leading financial and commercial hub in India, it has plenty of opportunity for jobs.

Owning a penthouse or flat in Gurgaon is a matter of pride and status. The city is flourishing with sky-scrapers and national and international connectivity, making it a hub for every MNC.

A few of the popular choices for investing are DLF Phase 3 Sector 24, Mg Road and Sushant Lok Sector 43 and 57.

A quick checklist:

• Gurugram or Gurgaon is the centre of all attractions. From MNCs to concerts, it has it all.
• Open minded people, so you’re sure to have good neighbours.
• Surrounded by other major metropolitan cities like Delhi.
• The culture, the people and the traditions make it an obvious choice.
• You can find a house for any rate and most of them are negotiable,

Hyderabad, Telangana

Mercer’s recent annual study ranked Hyderabad among the top Indian cities. That would be three consecutive years, that Hyderabad has been ranked better than the others with respect to living conditions for expats and other residents. Hyderabad scored well with respect to the lower crime rate, high-quality education, less pollution and of course, a thriving job market. The city is way ahead with regards to International airport, public services, recreational facilities and the beauty of mother nature.

Hyderabad popularly goes by the names City of Smile or City of thousand faces, and that says a lot about the people who dwell there.

A few of the top places one could invest in Hyderabad are Banjara Hills, Manikonda, Uppal, Miyapur etc. where you can find houses for sale and resale at reasonable rates.

A quick checklist:

• No traffic woes like Bangalore and Delhi.
• House owners are helpful and friendly.
• Lower cost of living compared to other cities
• Host to big production companies like Apple, Microsoft, Google etc
• Cheaper movie tickets and well-behaved crowd.

It is always smart to invest in at least one property like flats in Pune or a villa in Bangalore or any other metropolitan city. If you do not plan on staying, you can always rent it out. The pros mentioned above will only benefit you or your tenants.