Nottingham, United Kingdom (PressExposure) April 17, 2008 -- India is rapidly growing into one of the world's economic giants. Property in India's financial capital Mumbai is among the most expensive per-sq-m in the world at $9000 - $10,200. Property prices in India's other developing cities are much lower than in Mumbai, and with Mumbai as a guide these other cities have the potential to grow rapidly in the coming years. For instance in India's administrative capital New Delhi apartments are priced at $2000 - $3000 and in Bangalore, India's Silicon Valley prices are $950 - $2000 per square metre.
In Bangalore especially then there is the potential for massive growth. Asia is becoming the world's economical centre, as well as the beginning to overtake the U.S. in technological advances, new inventions for the digital age and other intellectual aspects. As this transition continues to take place, India's Silicon Valley could well overtake prices in America's Silicon Valley, which would mean at least 300% growth for buyers there in the next 5-10 years. Rental yields in Bangalore are also higher than elsewhere in India because the rental laws are more relaxed.
Rudrapur is another town in India that shows a lot of potential; benefiting from its proximity to one of India's largest Special Economic Zones. Rudrapur too has relaxed rental laws which bode well for high rental yields. Again like Bangalore, Rudrapur is already gearing up to become one of India's great economic, industrial, financial and trade hubs. This brings the potential to earn high yield residential lets from imported executives coming to work in the new branches of global corporations.
Again like Bangalore, much of Rudrapur's growth potential lies in its property prices still being comparatively low to Mumbai and Delhi, whereas you can still use the two giants as effective guides for how the economy in the area will grow as industry develops. Take David Stanley Redfern's Mountain View development in Rudrapur: studio apartments in a high-class development in the centre of a major commercial district for under Â£25000. Ideally located only 2.4 kilometres from the SEZ, on a new 45 meter wide bypass, Mountain View has strong potential for high-yield residential lets, from the plant managers, being just 5 minutes from their place of work.