India's Top 13 Residential Destinations

3) Chembur
Where: Mumbai

Chembur in Mumbai stood at third position on the list of top residential hotspots for investing in residential real estate segment. This suburb area is located in eastern Mumbai. Besides, Chembur is one of the most preferred residential areas in the financial capital. This area is strategically located in the city and the overall employment growth is one key thing that is giving thrust to the residential real estate market of Chembur, according to the report. Since 2007, the total of 3518 residential units developed in Chembur and around 2625 units are already sold out. During 2012-2017, this area is expected to receive a price appreciation of 125 percent.

Investor returns: 25.5 percent per annum
2012 average price per square feet: 12,000
Forecasted average price per square feet for 2017: 27,000
Price appreciation during 2012-2017: 125 percent
Estimated price to double in years: 4 percent Also Read: Housing Prices Up in 9 Cities, Down in 11 Places: National Housing Bank