Property for Sale in India

Location, climate, and economy

India (officially Republic of India) is a country located in the southern part of Asia, a member of the UN, WTO, and G20.

Climate zones: monsoonal (hot, humid) from June to October, trade winds (relatively cool and dry) from November to February, transitional (hot and dry) from March to May, and alpine. Up to eighty percent of the total annual precipitation falls during the wet season, the temperature is +28°C, in the hot and dry period it rises to +48°C, in the cool period (January) it is +1°C, in July - +23°C. In the mountains from minus 6°C to plus 20°C.

The economy is developing at a fairly fast pace. The priority sectors are: automotive, cement, electronics, engineering, oil, chemical and pharmaceutical, metalworking, textiles, and food production. Nevertheless, social groups differ significantly in terms of income and consumption, as do geographic regions, rural and urban populations. In the country, the stratification of society is still significant, a quarter live below the poverty level. Restraining factors on the way to the growth of well-being are corruption and a backward healthcare system.

Real estate market in India and prices (where it is better to invest)

Experts believe that there is every reason to state that the country's real estate market is growing along with the economic recovery after the pandemic. The construction industry continues to benefit from the government's low interest rate regime and infrastructure initiatives. The cost of basic materials (steel, cement, other material important in the technological process) is increasing, so experts expect that the cost of real estate in India will grow in the near future.

Dominant in terms of attractiveness for investment is residential real estate in India. Potential buyers prefer more spacious houses, more comfortable planning conditions with the use of modern equipment and communications. According to statistics, real estate sales in India in the first quarter of 2022 increased in terms of the number of transactions by more than 70% compared to the same period in 2021. There is a wide range of new and resale properties in India, with rental yields projected to be around 5% due to increased volume and migration of professionals, tourists, student renters (some cities still have regulations in place to curb the increase of rental fee).

A lot of additional housing is needed to meet pent-up demand. Customer reviews confirm that the apartments in the newly built residential complexes comply with building standards. Mumbai recorded the highest number of sales, followed by Delhi and Bangalore. Residential areas in many different provinces of the country are also attractive and can bring a stable year-round income, in particular in the resort of Goa.

Approximate price of real estate in India (per sq. m.):

Mumbai, considered the financial capital, is one of the most expensive places to buy property; prices here are 9,000-10,200 USD. Only in rare cases can you find some cheaper options. In other cities real estate costs less, in particular, in New Delhi, a resale will cost 2,000 USD and more, in Bangalore (Indian Silicon Valley) - in the range from 950 to 2,000 USD. In some locations, real estate can be purchased even cheaper - at a price of 500 USD. Apartments in Goa are offered primarily in residential complexes under construction at an average price of 650 to 900 USD (depending on the proximity of the beach and the quality of development), the most expensive offers are in the area of Calangute and Don Paula in the north and Cavelossim in the south.

Property types for sale

•  residential (apartments in apartment buildings, detached houses or villas with land plots, bungalows (one-story single-family houses with a spacious open veranda).
•  commercial: industrial, trade (shop, shopping center, supermarket), warehouse, office,
•  land plots,
•   islands.

 Real estate website in India

It is safer to use the information of experts and follow their recommendations. GEOLN.COM real estate website (with a convenient search interface) contains a full catalog of real estate for sale in India.

Buying property in India by foreigners (nuances)

Foreigners are not eligible to buy property in India, except when they reside in the country for one hundred and eighty three days within a financial year (a tourist visa is valid for one hundred and eighty days). Real estate cannot be acquired even if there is a right in common with someone who does not have such a right.

Investing in real estate in India is a promising investment that makes it possible to receive (taking into account the hot climate) a stable year-round income from the provision of real estate for use under a lease agreement.