The real estate industry in India hit a slump with the pandemic and the subsequent lockdowns. However, the residential sector of real estate in the southern states recovered fairly rapidly and now is on an upward swing. Cities such as Delhi NCR and Mumbai have been seeing inventory pile-ups, while this has not been the situation in South Indian cities.
The strong start-up and IT culture in the southern cities means that cities such as Bangalore, Chennai, and Hyderabad have seen a steady influx of residents despite the pandemic. Bangalore is today considered the start-up capital of the country and this has resulted in a continuous demand for residential real estate. South Indian cities have a wide range of housing options available, from small scale apartment units to luxury villas.
New developments catering to the residents’ needs, wants,0 and desires consider the demand ratio and aim to provide the most luxurious of amenities to the residents. Niche gated communities are being developed constantly, catering to a young and cosmopolitan generation of buyers. Ideally located within reach of prime social infrastructure facilities, these townships are extremely lucrative real estate investments today.
The southern cities have generally had stronger physical infrastructure in terms of connectivity and public transport, making these cities real estate investment hotspots. In terms of social infrastructure too, some of the most reputed healthcare institutions and educational institutes in the country are located in South India. This has also provided an impetus to the residential real estate sector in the cities in the south.
In addition, South Indian cities are less saturated as compared to the North and large tracts of land are available. This has resulted in a wide array of projects being developed here, providing buyers with a wide range to choose from. More NRI investments in the southern region of the country has also fuelled the upsurge in the industry.
Prestige Group new launch township The Prestige City.