Luxury Real Estate: Metros vs. Non-metros

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Real Estate has been one of the most popular investments for Indians for ages. It is the most popular tangible investment after gold. The real estate market may slow down for some time, but in the long run, it has always given huge returns to its investors. People attach a lot of sentimental value to Real Estate, especially if it’s buying your own house, hence the success of the sector!

 

Luxury Real Estate is getting increasingly popular these days among the common people as well. Post-pandemic especially, when people were stuck in their homes, the demand for better, well-spaced, well-designed, and luxurious houses, grew rapidly!

 

People living on rent started looking out for Ready To Move In flats, and community living became more popular. The sales of apartments are now far more than that of standalone units and land. Thinking of people has changed over the years.

 

Earlier, the thought was building a house that will be there for generations to come but seeing the competition in today’s world and how everyone is becoming self-sufficient, there has been a paradigm shift from standalone houses to communities, for the environment and facilities that they provide.

 

Community living is not an alien term. We used to live in communities back when people lived in villages. The whole village used to live like a close-knit community. However, this vanished with people moving to cities.

 

Life has come to a full circle now and again, community living is getting popular in terms of gated communities, where the whole society lives like a community and neighbors become friends in no time.

 

Luxury Real Estate in Big Cities

   Investment in Luxury Real Estate 

Without a second thought, luxury living in a big city is definitely for the rich. With prices of real estate skyrocketing and the cities exploding with population, only the very rich can afford the luxury.

 

If you’re someone who doesn’t mind spending a sum of INR 3-4 Crores, then the big cities’ luxury will welcome you with open arms. However, it is not a wise decision to search for luxury in big cities themselves. These cities are filled with pollution, population, and traffic!

 

Cities like Delhi and Mumbai are prime examples of such cities where property prices are skyrocketing and the population in them far exceeds the ideal number.

  

A wise choice for those looking for luxury real estate and luxury living is to invest and/or settle in cities closer to these big cities, for example – Thane, Navi Mumbai near Mumbai, Noida, Gurgaon, Bhiwadi, etc, closer to Delhi.

 

Is the Luxury Real Estate the Best Investment Move?

Tier-2 and Tier-3 cities nearby the major metro cities are the best places to invest in or even to move in, in terms of luxury real estate. These cities provide a lot of options as compared to metro cities as these are still developing, the population is lesser, hence the property prices are much less, and a lot of options are available.

 

One such example is Noida. Noida is a city in Uttar Pradesh neighboring Delhi, Noida was developed as an alternative for people wanting to move to Delhi. However, over time, Noida developed rapidly and now the population in the city exceeds the number of people it was meant to house.

 

Another such city nearby Delhi is Bhiwadi. A tier-2 city in Rajasthan, it is just about an hour’s drive from Delhi, and is a rapidly developing city, thanks to its location and the Rajasthan government’s policies that are supportive of industrialization.

 

Jaipur , the capital city of Rajasthan, is yet another rapidly developing tier-2 city. Being the state capital and about a 4-hour drive from Delhi, Jaipur is getting industrialized faster than other cities. Startup culture in Jaipur is also booming with popular startups like MyTeam11, DealShare, KiranaKing, HopElectric, etc. making it big in the business ecosystem of the country.

 

In addition to this, Jaipur has always been a popular tourist destination that attracts tourists not just from the country, but across the world. Not to forget Jaipur’s rich cultural heritage, which in turn adds to its economy. All these factors combined, are luring investors and homebuyers to invest/settle in this city.

 

Real Estate in Jaipur is cheaper than in Delhi, and Jaipur has all the facilities of a metro city. Popular locations in Jaipur to invest in Real Estate are –

  • Jagatpura
  • Vaishali Extension
  • Mahindra SEZ
  • Tonk Road
  • Ajmer Road
  • Sitapura Industrial area, etc.
 

Moreover, Tier-2 and Tier-3 cities which are closer to metro cities provide you a great destination for weekend travel in form of these metro cities, and life here is much calm and more relaxed as compared to the metros near them. Property prices are lesser hence you can lead a more luxurious life on the same budget as you’d have used to live a mediocre life in a nearby metro city.

 

When it comes to affordable luxury, tier-2 cities and tier-3 cities definitely win over tier-1 metro cities. With Reverse Migration after the post-pandemic, property prices in these cities are also increasing.

Work From Home and Online Classes have gained much popularity and people have understood that these modes of work/study save a lot of time and unnecessary travel expenses.

 

As a result, several schools, colleges, and offices are adopting hybrid working strategies, mixing up office work and the WFH model. This has resulted in an increase in reverse migration i.e. movement of people from metro cities back to their native places i.e. tier-2 and tier-3 cities in most cases.

 

However, not every builder or real estate company provides affordable luxury even in tier-2 and tier-3 cities. Choose your preferred real estate company carefully after a thorough result.

 

Ashiana Housing, as a real estate brand, has always been true to its customers. Transparency, hassle-free transactions, WYSIWYG, and on-time delivery are the pillars our brand stands on. Our projects are well architectured to suit the needs of every age across Comfort Homes, Senior Living Homes, and Kid Centric Homes.

 

Buying a house with us is just your entry into our big family. We don’t see our residents as customers, but as part of our family, and hence we never shy out of going the extra mile to serve our residents better.

 

To read more about Reverse Migration visit – ashianahousing.com/reversemigration

For browsing our projects, visit – www.ashianahousing.com

Category: Real Estate,

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Ashiana

About The Author

Ashiana, Ashiana Housing build homes. Homes surrounded by vast green spaces and fresh breeze. Homes cocooned in secured gated complexes. Homes where futures are forged and there are opportunities to grow. And Homes in environments brimming with healthy activity, trust and respect. At heart, we build communities with care.

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