for Property Investment in 2023

Top 4 Cities in Maharashtra for Property Investment in 2023

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Maharashtra is a popular state in India known widely for its real estate investment opportunities. As the state has seen progressive developments in the job market, physical infrastructure, connectivity and others, the investment popularity has increased exponentially.

Moreover, the government of Maharashtra has also helped the state grow by funding and initiating various development projects. The property prices in various cities of the state have constantly been appreciating, giving homebuyers and investors the benefit of experiencing high ROI.

Considering all necessary factors, if you have plans to invest in real estate in Maharashtra, then here are the top 4 cities for you to consider.

1. Mumbai

Talking about the top cities for real estate investments and not mentioning Mumbai at the top is a sin. It is the business and finance capital of India and is the top thriving city for anyone to invest in its real estate. Property registrations in Mumbai have increased by 9% throughout 2022, and a total of 1.22 lakh units were registered.

As per the reports, this figure is the highest for Mumbai in the last decade. Most investments were reported for areas such as Chembur, Andheri, Mira Road, Kanjurmarg, Goregaon, Ghatkopar, Vile Parle, Worli, etc.

Following that, the state government has also imposed strict infrastructure development guidelines across Mumbai. The metro network is now being expanded with new lines alongside the trans-harbour link and coastal road. Such projects are meant to reduce the connectivity hassle within Mumbai, intending to give a quality life to the people of the city. Thus, Mumbai is the best city in Maharashtra to invest in properties for a better ROI.

The cumulative average property price in Mumbai is around Rs. 19,000 per sq. ft.

2. Pune

Pune, the second biggest city in the state, contributes a large chunk to Maharashtra’s GDP. It contributes to a GDP of $48 billion! Pune is very popularly known for its exceptional educational facilities. But, apart from that, this city has stated an example of developing its manufacturing sector, which boosted the growth of the forging, sugar and glass industries.

Some of the other thriving sectors in Pune include IT and automobile. Advanced technologies and brilliant connectivity are making Pune a megacity. As of February 2022, Pune collected around Rs. 517 Crores from its property registrations. It is recorded to be a 40% rise, year-on-year, which isn’t slowing down since then.

Such a craze for investing in properties in Pune is mostly due to the budgeted average pricing per sq. ft. and the increasing appreciation graph. Thus, it means minimal investment and high returns are what people can expect while investing in Pune properties. The average price per sq. ft. for properties in Pune is around Rs. 6,000.

The government has also scaled various initiatives, one of the best of which is the Pune metro. With this, the commercial and residential real estate of the city will be upscaled by allowing people to commute easily. Furthermore, the city also expanded proficiently after the completion of the Mumbai-Pune Expressway back in 2022.

3. Thane

Thane is another popular real estate investment destination because of its connectivity to Mumbai city. Apart from that, people who want to stay close to Mumbai, but do not want to pay a fortune to buy an apartment, prefer living in affordable homes in Thane. The city has experienced massive social and economic infrastructure growth in the past decade.

Today, Thane has many reputed educational hubs, healthcare facilities, recreational centres, malls and entertainment hubs, sufficient enough to give a good living experience to residents. Even though the prices of apartments in Thane West and East are affordable, the appreciation rate is still stable and high. Thane is a peaceful abode and gives a better quality of life.

Thus, this is what interests the investors towards investing in ready to move flats in Thane West by believing in the growth rate of the city’s real estate.

4. Nashik

The last of the top cities for you to invest in real estate in Maharashtra is Nashik. People willing to buy properties in Mumbai and Pune are now hunting ideal options in Nashik as well. It is considered a peaceful abode for people, as the population is very low around this city.

Moreover, Nashik is also taking over rapid urbanisation, which is attributed to the overall expansion of the sectors such as textiles, IT, capital goods, pharmaceuticals and others. Apart from that, Nashik is also part of the state’s Smart Cities Mission, contributing towards the increase in demand for residential and commercial properties.

Some common localities in Nashik with high residential demand are Sinnar, Satpur, Ozad and Ambad. There are various educational, healthcare and other such social & physical infrastructure facilities, making it a popular city with housing demands. Thus, more and more investors are keen on putting their money in Nashik’s real estate.

The average pricing per sq. ft. for Nashik is around Rs. 3,700 and has a stable appreciation year-on-year.

Conclusion

These are the four cities of Maharashtra that are perfect for investments. Depending on your budget, investment flexibility and plans, investing in any of these cities will reap you benefits. So, whether you want to invest in new flats in Thane West/East, Mumbai, Pune or Nashik, check out the options over Blox right away.

Blox is your property search engine to find relevant properties within your specified budget. Do your calculations on how much returns you expect from your investment by assessing the pricing trends, following which Blox will help you choose from the best!

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