Ulwe is top realty investment destination

With property options ranging from Rs 3,200 per sq ft to Rs 15,000 per sq ft and price appreciation in the range of 91 per cent to 145 per cent, residential real estate will emerge as promising asset class for the next five years.

The western region has the highest number of promising residential investment options with three destinations from Mumbai and four destinations from Pune, the report said.

The performance of IT/ITeS industry will have a major bearing on the real estate markets of cities like Bengaluru, Chennai and Pune, it added.

Commenting on the report, Knight Frank's Executive Director- Retail, Advisory & Hospitality Gulam Zia said: "With property options ranging from 3,200/sq ft to 15,000/sq ft and investor returns in the range of 18.6 per cent - 29 per cent pa residential real estate will emerge as a promising asset class for the next 5 years".

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