Buying property in India might not be something you have given extensive consideration to in the past, but that could all be set to change when you consider the wealth of investment opportunities available in this stunning country. With one of the fastest-growing economies in the world and the second largest population, the scope for growth is unrivalled.

With its rich blend of cultures, climates and terrain, India has something to offer everybody. One constant, however, is the nationwide low cost of property, with many new build, two-bedroom apartments in areas such as Goa and Mumbai retailing for as little as £40,000. Build quality is excellent – many of the large developers who cut their teeth in Dubai have now turned their attentions to India’s property market. The smart money says that you should do the same.

Mumbai City (formerly Bombay)

India Profile
Capital City: New Delhi
Area: 3,166,414 sq km
Population: 1.12 billion
Time Zone: IST (+5 hrs)
Country dialling code: +91
Currency: Indian Rupee

India Climate
The climate in India ranges from tropical in the south to Arctic-like in the north, where the country is hemmed in by the Himalayas. The summer monsoon season, stretching from June to September, is a notable feature of India’s climate, and provides the country with most of its annual rainfall. Temperatures are hot and humid in the south and central regions all year round, while the higher ground is noticeably cooler.

India Property
Foreign investors are permitted to buy property in India, although the process is not as straightforward as one would like. A non-resident can purchase property but, in order to register ownership with the government, the purchaser is required to have either spent six months living in India as a resident or have set up their own company. The latter option is the preferred, and easiest, route for many.

The range of property on offer differs from region to region, but the property ‘hotspots’ are Goa, Mumbai, Chennai and Calcutta, where new build homes and good quality resale properties are available. Goa is a top tourist destination, attracting wealthy visitors from all across Europe, North America and Australia. Hence, it is a good place to invest if you are looking to create a property portfolio as there is a good selection of affordable, one and two bedroom properties being built in the region. Its year round appeal means that rental returns should remain strong throughout the year.

For a slightly upmarket selection of property, head to Mumbai. India’s financial and commercial capital, Mumbai boasts an excellent transport infrastructure, well-appointed residencies and a surging demand for quality driven by an increasingly affluent population. Prices here are among the highest on the Indian sub-continent, but still remain competitive when compared to similar markets in Dubai, Singapore and Hong Kong. For the investor seeking to sniff out a top quality bargain, there may be no better place to head than Mumbai.

India Flights
India’s major international airports are located at Delhi, Calcutta, Mumbai and Chennai, with regular flights to Heathrow and Gatwick. Air fares are not cheap, although as the property market grows and grows, expect a few of the budget carriers to open up routes there soon.