Industrial Growth, Job Opportunities, FDI Make These Indian States Promising

For the young professionals, leading cities within the country may not be enough. They are ready to move beyond these cities to look for better job opportunities. And, what better to be living in a city that is promising. Gopinath Pillai, ambassador-at-large with the Ministry of Foreign Affairs reportedly said that while opportunities abound in the country, it would be better to focus on four to five states and make them promising. Andhra Pradesh, Maharashtra, Tamil Nadu,

The Indian states that have surfaced as the most competitive and promising are Andhra Pradesh, Maharashtra, Tamil Nadu, Gujarat and Rajasthan.

Hence, if you are moving into new cities, consider growth in terms of employment, return on your investment and upcoming development in your city.

PropGuide takes a look at what is happening in these states: 

Tamil Nadu

While presenting the State Budget, the state finance minister pointed out the findings of the National Council of Applied Economic Research's (NCAER) State Investment Potential Index (N-SIPI) survey. Tamil Nadu ranks third in the country when it comes to attracting investments. Besides, the following are encouraging:

• Rs 75 crore has been allocated for the Global Investors meet in 2017-18.
• Second phase of Tamil Nadu Investment Promotion Programme would be taken with the Japan International Cooperation Agency meant to better infrastructure for industrial development.
• Smart City Ponneri would receive the attention from the government body in charge in association with The State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT).
• An aerospace park is coming up at Kancheepuram at a cost of Rs 350 crore that will drive employment.
• Malaysia, which has parked an investment of $6 billion in India while another $6 billion worth of projects have been approved. Chennai could be a major beneficiary as 28 lakh Tamil-speaking people are based in Malaysia. The cultural connect is encouraging.
• For the first time, Russia and a Chennai-based company have signed an $80-million deal for financing a 100-megawatt solar power generation project in Virudhnagar. This will generate employment for many.
• China, too, has been contributing towards the foreign direct investment (FDI) in India. It is ranked 35 in terms of contribution in 2011 and now stands at the 17^th position.

Real estate in Chennai

Both investor and end-user demand (based on the searches conducted on our website) side with the affordable properties with 59 and 57 per cent demand. Avadi, Navallur, Perumbakkam. Padur, Ayanambakkam, Medavakkam, Guindy, Vadapalani, Sholinganalur are preferred localities in Chennai. In short, Old Mahabalipuram Road (OMR), Chennai West and Chennai Central are the most preferred micro-markets.

Average property prices in Chennai residential market

 Andhra Pradesh

Industrial hubs in Andhra have caught the fancy of government authorities. Chief Minister N Chandrababu Naidu has asked for a time-bound action plan for the next 33 years. The ultimate goal seems to be to stage Andhra Pradesh as a leading global investment destination by 2050. In fact, Amravati alone has attracted a record investment of Rs 1,37,832 crore. Here's more:

• Malaysia has agreed to set up a tech park in the state that will attract private sector investment of $100 million in its first phase.

• Apollo Tyres is keen on investing in a greenfield plant in AP at a tune of Rs 525 crore with concessions on Value-Added Tax (VAT), State Goods & Services Tax (SGST) and Central State Tax (CST) as well as power tariff rebate. 

• Chinese companies may be looking at investments away from Gujarat to places like Andhra among others.

• Almost 1.5 lakh jobs will be generated when Mucherla Pharma City takes off. Investment for the same has been to the tune of Rs 15,000-20,000 crore for nearly 6,200 acres of land.

Real Estate in Hyderabad

End-users have been the most proactive of the lot raising a demand for a mix of properties but mostly mid-ranged. The Hyderabad-Nagpur Industrial Corridor, Pharma City, Information Technology Investment Region, GAME City and the Education hub have placed West Hyderabad in a hit spot. Almost 76 per cent of the demand is concentrated here.

Nanakramguda, Kukatpally, Hitech City, Kokapet, Gachibowli, Moti Nagar, Manikonda, Serilingampally and Kondapur constitute the most preferred centres for investment in the city.

Average property prices in Hyderabad residential market

Maharashtra

To accommodate the rising urbanisation, the state is eyeing an investment of $20 trillion by 2040. Although property values are high, the state is still charming, especially with alternate, seemingly affordable investment options. While Chief Minister Devendra urges non-resident individuals (NRIs) to revisit and re-inhabit their state, here what we should be looking forward to:

• Oil companies from foreign shores are in talks to invest about $30 billion in Maharashtra-India's biggest.

• JSW Group has already put in $611 million to develop Jaigarh port.

• The lion's share of investments has driven into Maharashtra. Of the total FDI of Rs 1,44,674 crore that India has received, Rs 68,409 crore has been made in Maharashtra.

Real estate in Mumbai and micro-markets

Enquiries for both affordable and luxury was strong taking up almost 43 per cent and 37 per cent of the enquiries. Thane and beyond Thane besides Navi Mumbai gobble much of the housing demand.

Thane West, Dombivali, Kalyan West, Goregaon West (Andheri to Dahisar micro-market), Kharghar, Panvel, Badlapur East, Kandivali West and Andheri East are the most popular localities.

Average Property Prices in Mumbai Residential Market

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