How to Invest in the Right Property Within Budget?
Budget is usually the deciding factor while purchasing a new home. The real estate sector in Nagpur is booming with high demand for housing. The growing economy, government initiatives and rapid urbanisation have made Nagpur one of the most sought-after destinations for working professionals. The rising employment opportunities attract many professionals from the state to the city. Investing in Nagpur is a lucrative opportunity for good returns.
This blog discusses how to invest in the right property within the budget.
1. Location
Like in every city, different locations within Nagpur can be classified as premium, mid-segment, and budget locations. You must choose the location depending on your budget. Some locations for affordable housing in Nagpur are Harbans Park, Aakar Park, and Sacchidanand Waman Nagari. By investing in affordable homes in these locations, you will be able to invest in flats in Nagpur that have high growth potential in the future, due to the numerous economic opportunities in the city. At the same time, make sure that the location has good connectivity and social infrastructure. These are important aspects to earn rental income or earn good returns after price appreciation.
2. Choosing The Right Developer
Builders also choose a niche for developing projects that fall in the luxury, mid-segment or budget category. Choose projects by builders who offer properties within the budget. These projects need not be luxurious with grand amenities and facilities. But they must have sound construction quality, timely delivery, and all the basic amenities. These will assure that the property attracts tenants and can be resold whenever needed.
3. Upcoming and Newly Launched Projects
Many apartments in Nagpur in the launch phase offer good schemes and discounts. Investors can make most of these opportunities and book flats in these projects. These projects give good discounts which will meet your budget. Even though the project may take a few years to complete, investors can enjoy high price appreciation once the project is completed.
4. Configuration and Facilities
It is wise to Choose 1 or 2 BHK apartments that match your budget. Nagpur is still developing as a real estate destination. The city offers many affordable housing options. Investors can choose to invest in these projects that are expected to give good returns. The prices of luxury flats in Nagpur may be comparable to those of mid-segment flats in developed cities like Mumbai and Pune. Investors may choose to invest in these for good returns.
If you do proper research before investing, finding a good investment opportunity will not be difficult. Connecting with local real estate experts will help you in your investment exercise.