Investing your money in real estate is not enough. Knowing where to invest is necessary for attractive gains in the property market. So which are the best places to invest in real estate in 2009? Global real estate consultancy Jones Lang LaSalle Meghraj (JLLM) outlines the nine best places that can fetch you lucrative returns:

Mumbai: It has different areas in which growth can still be observed. These areas will sustain prices even as other areas in Mumbai will see a correction. Vasai-Virar region, known for budget housing, is a good bet as connectivity will increase with additional trains planned for next year.

Price: Rs 2,500-3,500/sq ft

For prime property hunters, Bandra-Khar area is a preferred destination owing to its elite profile & high-level of shopping & other facilities.

Price: Rs 18,000-25,000/sq ft

Delhi: There is a slowdown currently in the suburban market. However, the areas around the 150-metre road that will eventually connect Gurgaon to Dwarka, specifically, Sectors 103-111, have significant growth potential. One can expect a year-on-year appreciation of at least 5-7% even now. The area is currently under-developed. However, when residential projects reach completion in 2-3 years, the appreciation will be between 30-35%.

Price: Rs 2,200-2,300/sq ft;

In Dwarka: Rs 4,000-4,500/sq ft

Chennai: While Chennai’s residential scenario is considerably depressed, the Mogappair-Porur region holds mid-to-long term investment potential. It is close to the prime residential catchment of Anand Nagar, Chennai Railway Station and bus terminus. The fact that it is not near the IT corridor also increases its potential.

Price: Rs 2,800-3,000/sq ft

Bangalore: The city is feeling the brunt of the IT slowdown. However, established suburban areas like Koramangala, Outer Ring Road and Bellari Road continue to be good investment destinations. While Koramangala is close to Electronics City, Outer Ring Road & Bellari Road are close to IT hub and appreciation potential is 10-15% in long term.

Price (Koramangala): Rs 7,000-8,000/sq ft

Price (Outer Ring Road and Bellari Road): Rs 3,500-5,500/sq ft

Pune: Pune’s new growth corridor encompassing Kharadi and Nagar Road can be considered as the most lucrative real estate investment zone for 2009-2010. Proximity to revamped airport, improved connectivity, upcoming IT SEZs, commercial ventures and reasonably low entry costs make it profitable for investment.

Price: Rs 2,700-3,500/sq ft

Hyderabad: Significant growth in Hyderabad has now been restricted to specific areas. The residential investment growth potential will centre primarily around Gachibowli and Tellapur. Factors such as its proximity to the financial district and Outer Ring Road reducing the commuting time of residents to key workplace locations are the significant drivers here.

Price: Rs 3,000-3,500/sq ft

Mohali: The area adjoining Mohali called Greater Mohali, which encompasses the fast-developing Landra-Mohali Road area, is a promising residential nexus. Pan-India, developers such as Unitech, Emaar-MGF, Ansals & DLF have snapped up land for mega, multi-sector residential hubs.

Price: The investment opportunity here is in land which currently sells in the range of Rs 12,000-14,000/sq yard.

Kochi: Apartment units have the highest demand here owing to affordable prices and availability. The prime residential areas adjacent to M G Road & along Marine Drive command a premium.

Price: Rs 3,000-3,500/sq ft

Ahmedabad: There are attractive residential hotspots coming up in the city. Considerable economic activity is expected with the arrival of the Tata Nano project which will boost the value of real estate in and around Sanand corridor. Located in an industrial region rich with SEZs together with good land availability and low land prices makes this location a viable one.

Price: Villas selling at Rs 2,600-3,000/sq ft.

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