7 best satellite towns in India to invest in

[ecis2016.org] Satellite towns, which started emerging around 15 years ago, to ease the mounting pressure on major Indian cities, are fast turning into real estate hotspots. We list some of the major satellite cities in the country, which are worth investing in

The most important aspect that encourages the development of satellite towns, is the presence of good connectivity. Once easy accessibility is in place, other things like infrastructure, amenities, residential areas, etc., tend to follow. During the growth phase of satellite towns, property rates are lower than the prime areas and when the satellite towns themselves become prime areas, the rates increase.

You are reading: 7 best satellite towns in India to invest in

According to Sunil Aggarwal, associate dean and director, RICS School of Built Environment, “Delhi, Mumbai and Bengaluru have benefitted the most, from the emergence of satellite towns. However, there is a need to utilise the land within cities more effectively. There is a lot of good quality land within cities that is either unutilised or underutilised and this has to change.” Given below, are some of the prominent Indian satellite cities that property investors can consider.

Gurugram

According to the quarterly report Real Insight (Residential) – April-June 2021 by PropTiger, Gurugram had a share of 36% in overall sales, with 1,020 units being sold during April-June 2021, up from 885 units in the same period in 2020, thus, garnering the highest overall sales among the Delhi-NCR cities comprising of Gurugram, Faridabad, Noida, Greater Noida and Ghaziabad.

Strategically located with proximity to Delhi, Uttar Pradesh and Rajasthan, Gurugram has become a sought-after business destination, with the presence of a number of MNCs, IT companies and BPO companies and thus, it has paved the path for premium residential realty that includes numerous skyscrapers. According to the official website of the Gurugram district (https://gurugram.gov.in/), it is the only district to have accomplished the feat of distributing electricity to all of its households.

Started off as a satellite town of Delhi and over the years, due to its excellent link via the Delhi Metro and highways, Gurugram has emerged as a prime city real estate destination. Now, it has surrounding areas – for example Sohna – which have become satellite towns to Gurugram.

“It is a continuous process of growth and development. When the prime city gets saturated, people start looking out for cheaper and better avenues. As soon as the connectivity with the surrounding areas improves, these regions start emerging as satellite towns. This way, satellite towns help in decongesting the main cities also,” says Parveen Jain, CMD of Tulip Infratech.

Today, Gurugram ranks among the most expensive property markets in India. Owing to the Coronavirus pandemic and corrections in real estate prices, rates here are at an average of Rs 5,000 per sq ft. Also, the stamp duty charges on properties are gender-based. While men have to pay 7% of the property value if it falls under the municipal ambit and 5% of the total property value outside municipal limits, women have to pay 5% and 3%, respectively, for the same. As far as the registration charges are concerned, people have to pay a fee that corresponds to the property’s value. To know more, check stamp duty and registration charges in Gurugram. The stamp duty charges can be paid online at https://egrashry.nic.in/.

The popularity of Gurugram has grown so much that surrounding areas – for example, Sohna – have become satellite towns of Gurugram.

Check out properties for sale in Gurgaon

Sonipat

Read also : New highway for Delhi-Jaipur, part of Delhi-NCR connectivity measures

While real estate prices in the NCR remain high, satellite towns like Sonipat offer retail, residential and commercial properties at a much better rate, leaving considerable scope for investors to make profit. Another major reason for this area to emerge as a favoured destination for realty investment, is the Kundli-Manesar-Palwal (KMP) Expressway, which offers speedier access to the international airport.

Also, the Haryana government has announced plans, to develop two new industrial model townships over 5,600 acres in Gohana and Ganaur areas of Sonipat, because of the presence of vast lands for industrial purposes and excellent connectivity to neighbouring states including Delhi-NCR, Rajasthan and Uttar Pradesh through the Kundli-Manesar-Palwal Expressway or the Western Peripheral Expressway, a 135.6-km-long operational six-lane expressway in Haryana.

New Town, Kolkata

Developed by the Housing Infrastructure Development Corporation (HIDCO), New Town, Kolkata is divided into four areas – Action Area I to IV.

This neighbourhood town of Kolkata is an evolving satellite city, which offers commercial spaces, entertainment hubs, high-end planned residential projects, central business centres and IT and business parks. A robust public transport system, including major arterial roads and the planned metro line that runs from Garia to Dum Dum, will add value to this destination.

“The residential property market in the Rajarhat-New Town-Barasat stretch is flourishing. It is well-connected to the city and gives buyers a variety of reasonable property options,” says Aditya Kedia, managing director, Transcon Developers.

With excellent planning, green spaces and state-of-the-art infrastructure, New Town has been gaining more prominence and has a sought-after rental market. Presently, there are around 148 ready-to-move-in projects and around 200 under-construction projects, with many reputed developers including DLF, Tata Housing and Unitech, having their presence here. To know more about the record / title of land, building, etc. , building plan sanction, completion certificate, water connection, payment of property tax, etc., you may visit the official website of New Town at https://www.nkdamar.org.

[ecis2016.org] Bengal’s New Town awarded Gold Certification under Green Cities Rating

Navi Mumbai, Thane, Kalyan, Vasai and Palghar

Areas around Mumbai city have witnessed tremendous growth, with many of them emerging as established commercial, IT/ ITeS and residential hubs. With this growth, the city limits have expanded into what is known as the Mumbai Metropolitan Region (MMR), encompassing Navi Mumbai, Thane, Kalyan, Ambernath, Vasai, Palghar, etc. “This shift has given rise to the development of large land parcels that are being transformed into self-contained townships. These townships have better amenities and facilities, thus, giving customers an opportunity to lead a better lifestyle,” says Deepak Goradia, vice-chairman and managing director, Dosti Realty. Areas like Wagle Estate, Ghodbunder Road and Thane-Belapur Road, have become focal points for commercial and IT/ITeS developments.

With Adani Airport Holdings Ltd’s (AAHL’s) announcement to start construction in August 2021 and commission operations at the Navi Mumbai International Airport by 2024, experts envisage a sharp rise in the Navi Mumbai realty market. This could open up a lot of new nodes, including Taloja, Ulwe, Pushpak, New Panvel and Dronagiri. Additionally, under the ‘PMAY: Housing for All by 2022’, CIDCO is constructing around one lakh houses in and around Navi Mumbai, thus, giving another push to the city.

To know more or if you would want to use the online services in Navi Mumbai for payment of water tax, property tax, you can visit https://www.nmmc.gov.in/navimumbai/ for the same.

Read also : CPCB stops Ansal Properties’ Sushant Lok Phase 1 project construction work, imposes fine of Rs 14.6 crores

Check out properties for sale in Kalyan

Amravati

From being a well-known industrial destination, the city is now becoming a residential hub because of its aesthetic and pleasing architectural marvels, future plans for a smart city, presence of industries and educational centres and tourism. Experts point out that areas like Nandgaon Peth and Badnera, are expected to witness maximum development. The city also boasts of a robust rail network and airport, which will benefit its property market. Amravati enjoys connectivity to major cities like Nagpur, Mumbai, Raipur and Pune, while the NH-6 from Amravati to Jalgaon joins states like Gujarat and Maharashtra to the eastern states like Odisha.

In a bid to boost the real estate, tourism and the retail market in Amravati, the Rail Land Development Authority (RLDA) has proposed a commercial development on a vacant land that has the railway station on one side and important roads on the other side. E-bids have been invited on a lease for 45 years, for commercial development of the vacant land spanning 10,080 sq metres with Rs 25 crores as the reserve price. The deadline for the bid submission is July 23, 2021. For more information you can log on to https://amravati.gov.in/.

Yelahanka

Yelahanka is a part of the northern suburbs of Bengaluru. Similar to other parts of Bengaluru, the growth of the IT sector, was the driving force behind the development of real estate here. This market, in north Bengaluru, has seen a lot of traction in the last one year, say experts.

“The property prices in Yelahanka have remained within a reasonable range, as compared to other parts of the city. Although Yelahanka started as a satellite city project, it has now turned into one of the most sought-after zones in Bengaluru, not just on the residential front but also on the commercial front,” adds Kedia.

Check out properties for sale in Yelahanka

Pendurthi

The real estate market in Pendurthi, a neighbourhood of Visakhapatnam, received a major boost with the formation of the Visakhapatnam-Chennai Industrial Corridor, which has been a major growth driver in this region. This infrastructure project has brought with it various benefits, like improved connectivity and power transmission and delivery networks. This could further push industrial development and encourage IT companies to set up bases in the vicinity, thus, paving the way for residential real estate development.

Recently the centre approved the project for upgradation of Pendurthi Junction to Bowdara Road from being a state highway to a national highway (516 E). This will further aid in the development of this satellite city.

Advantages of satellite cities

• The growth of satellite cities, augurs well for the real estate market in and around metro cities.
• Residential projects in satellite cities are often based on the integrated township model, offering its inhabitants with all comforts and infrastructure services within the locality.
• Besides being in the neighbourhood of major cities, satellite cities also offer most of the amenities and facilities that major cities would deliver.

Best place to invest in property in 2020

If you are looking to invest in any satellite towns with potential, here is a list of broad price range in these places:

FAQ

(With inputs from Sneha Sharon Mammen)

Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org

Source: https://ecis2016.org
Category: Lifestyle