Investing in real estate in cities being expensive, one can opt for investing in offbeat locations, which offer significant return over low investments.
In Maharashtra, Nagpur, Saswad and Raigad are such towns.Their connectivity is good and these towns are becoming popular among the investing community.
Nagpur: It is the third largest city of Maharashtra and as per a recent survey, conducted by ABP News-Ipsos, Nagpur has been identified as best city in India.
Nagpur is one of the emerging metropolises and has registered significant growth, making it an attractive destination for real estate developers. There are several development projects underway here. The multi-modal International Cargo Hub and Airport at Nagpur (MIHAN) is the biggest development project, which aims to convert airport into a cargo hub with integrated road and railway connectivity.
TCS, one of the India’s largest IT company, is building campus in the city and Infosys has also started construction of its Nagpur campus. The city has several prestigious educational institutes as well.
Nagpur will soon have its own metro. Recently, the Maharashtra government signed a Memorandum of Understanding (MoU) with Cisco for making Nagpur a smart and safe city.
Also, Nagpur is a few hours away from Mumbai and Pune. Besides the economic and infrastructural developments, the city also has various public attractions. Sitabuldi Fort and Seminary Hill are few of the attractive tourist locations in Nagpur.
Saswad: Saswad is just 31 km away from Pune railway station and is well connected via city buses too.
The area is in proximity to Jejuri MIDC and Lonand MIDC, amongst others. Saswad also has a number of educational institutes such as Saint Joseph English Medium School, Waghire High School and Waghire College.
Saswad is an ideal location for tourists and is a weekend getaway. The area has many attractive tourist destinations like Jejuri, Malhargad Fort and Purandar Fort amongst others. The place is a perfect match for trekking and exploring. The area has a rich history and cultural heritage.
The location will be viable for land or second home investment. The city is still developing and owing to its proximity to Pune, it has the potential for growth. You can enter with low investment and end up getting profits. The prime benefit in investing in this area is in close proximity to industrial areas, metropolitan city and tourist spots. The infrastructural development in and around the area makes it ideal for investment especially in land.
Raigad: Raigad, a district in Maharashtra, is 84 km away from Mumbai and 110 km from Pune. Panvel, Alibag, Mangaon, Roha, Pen, Khopoli, Kharghar, Taloja, Khalapur, Uran, Patalganga, Rasayani, Nagothana, Poladpur, Alibag, Karjat and Mahad fall under this district.
Raigad is connected to Mumbai through Sion-Panvel Expressway and is accessible via Mumbai-Pune expressway, NH-7 and NH-17. The Maharashtra government is working on a proposal to develop a private smart city at Pen in Raigad district.
Raigad is close to places like Lonavala and Khandala and the presence of Adlabs Imagica, Ballaleshwar Ashtavinayaka temple in the vicinity makes it an ideal location for a getaway.
The area has institutes like Dr. Babasaheb Ambedkar Technological University, which is the only technical university in Maharashtra. The location has tremendous growth potential making it a promising investment destination.
Trichy, Tamil Nadu
Tiruchirappalli, also known as Trichy, is on the smart city list. Located 322 km south of Chennai and 379 km north of Kanyakumari, it is the fourth largest urban agglomeration in the state.
The city was ranked second cleanest city, according to recent Swachh Bharat Abhiyan survey.
Trichy is a major engineering equipment manufacturing and fabrication hub. Industrial units such as Bharat Heavy Electricals Limited (BHEL), Golden Rock Railway Workshop and Ordnance Factory Tiruchirappalli (OFT) have factories here. This has lead to significant rise in employment opportunities.
The city is well connected with government owned buses and auto-rickshaws. Trichy is located in close proximity to two prominent National Highways, NH 45 and NH-67. The Railway Heritage centre was inaugurated in 2014 and International airport is only five km away from the main city. The city has various reputed educational institutes like Indian Institute of Management, National Institute of Technology amongst others. Buying land or second home in the city or at the outskirts will be beneficial because of the infrastructural growth in and around the city.
Therefore, adding these destinations in your investment portfolio can be a wise decision. Apart from selecting the right location, it is equally important to choose a well reputed developer. It would be ideal to select a developer who has lot of projects in the outskirts and considerable knowledge to manage such investments.