India's 7 Attractive Property Investment Hotspots In 2013

Bangalore: Buying a property is a resolution for many Indians this year. People are seeking property not only for accommodation purpose but also as an investment option. Despite sluggish economic condition, investing in property has never lost its sheen. According to a recent report released by global real estate consultancy Knight Frank, Mumbai, Delhi-NCR, Pune, Chennai and Bangalore have emerged as the top five cities in India for investment in residential segment.

 "Identifying the right markets becomes easier if one looks for certain at key market triggers. The critical ones that highlight the potential of any property markets include existing infrastructure readiness, implementation timelines for new infrastructure initiatives, demand for commercial space in the market (leading to job creation), social infrastructure, and price trends," said Om Ahuja, CEO, residential services, Jones Lang LaSalle India, reports Economic Times.

Below is the list of such promising localities in India:

1) Mumbai:

The financial capital is one among the largest traditional real estate market in India. In Mumbai, places like Wadala and Chembur are emerging as the most promising investment destination. These places are witnessing maximum growth in real estate movement because of close proximity to premium office space markets, strategic location and proposed infrastructure projects like Eastern Freeway project and Monorail. It is expected that the upcoming projects will increase the housing demand in these places in the near future.