A number of new projects along the National Highway 8 (NH-8) have made this strip an attractive destination for NRI investors.
The NH-8 may be one of the busiest highways in India, but there’s more than traffic that is drawing people to this bustling thoroughfare. A large number of new real estate projects have begun appearing along this road, and already, the demand for units here has proved to be strong. Prices for residential real estate along Southern Peripheral Road, for example, have already experienced high rates of appreciation owing to the connection to the NH-8. Numbers reported in March 2014 reveal a CAGR of over 30%, a figure that is likely to be par for the course for NH8 property. For real estate investors looking to acquire well-connected property in an area poised for growth, this corridor makes one of the most promising real estate investment opportunities in India.
Why more investors are eyeing NH8 property
A large amount of the potential here can be attributed, as always, to the location.
The NH-8 provides easy access to hubs like Manesar and Dwarka, and several new commercial developments are taking place along the highway. From entertainment complexes to shopping centres, hospitals, schools and more, these amenities are increasing interest in residential developments nearby, which will in turn have a positive effect on NH8 property prices.
Several Special Economic Zones (SEZs) have also been approved here, and as such are receiving Foreign Direct Investment. The real estate, IT, auto and technology sectors to name a few are receiving foreign financing, which will strengthen the micro-economies along the road.
Of course the connectivity between Mumbai and New Delhi is important, but the NH-8 highway is becoming an appealing investment opportunity in its own right. Residential real estate along this road is in high demand, and prices are expected to rise over the coming four to five years. In anticipation of this, many investors are taking advantage of so-called “early bird” deals being offered by developers, buying now at competitive prices to take advantage of CAGR rates that are predicted to enter double figures. For NRIs quick enough to act now, a unit along the NH-8 Highway could prove to be one of the most lucrative real estate investment opportunities in India.
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