India's Top 13 Residential Destinations

11) Pallikaranai
Where: Chennai

In Chennai, Pallikaranai is believed to be one of the popular employee residential locations. On the top list, Pallikaranai stood at 11^th position. This area is expected to gain popularity with the upcoming Vandalur-Velachery Monorail Project. The report stated that, around 1382 residential units are already sold, out of total 1684 units launched since 2007.

Investor returns: 19.1 percent per annum
2012 average price per square feet: 4200
Forecasted average price per square feet for 2017: 8100
Price appreciation during 2012-2017: 93 percent
Estimated price to double in years: 5.4 percent

12) Wakad

Where: Pune

Wakad is a residential locality in Chennai and the area is considered to be the fastest growing localities in and around Pune. Wakad gain importance due to its close proximity to the Rajiv Gandhi Infotech Park. The area, Wakad has ranked 12^th on the top list where the housing prices are expected to rise by 5.5 percent over the next five years. Since 2007, total 15,570 residential units launched in Wakad, out of which 12,864 units have been sold already.

Investor returns: 18.7 percent per annum
2012 average price per square feet: 4500
Forecasted average price per square feet for 2017: 8600
Price appreciation during 2012-2017: 91 percent
Estimated price to double in years: 5.5 percent

Also Read: Housing Prices Up in 9 Cities, Down in 11 Places: National Housing Bank