Puducherry Residential Real Estate Investment
Puducherry is the name of India’s 8th Union Territory, as well as a city of the same name in Puducherry. It is known for its clean and mesmerising scenic beaches. The best part of living here is the lack of crowds or chaotic life. Its distinctive blend of French and Tamil history influences the local culture, so you can enjoy the different cuisines and festivities.
The Union territory has some of the finest educational institutions in India. There are around 76 colleges and 14 standalone institutions at this UT. Furthermore, Puducherry has a proper transportation network of buses, cabs, railways, and a regional airport for connectivity.
Some key industries in Puducherry include tourism, textiles, food processing, engineering, electronics, light, and leather. These industries are supported by 3 minor seaports located in Puducherry and in nearby Karaikal and Mahe.
Top Reasons to Invest in Puducherry Real Estate
Puducherry can be an excellent option to invest in real estate because of the following reasons:
• Education Facilities
Puducherry is the home to some prominent educational institutions in India like Jawaharlal Institute of Post Graduate Medical Education and Research (JIPMER), Pondicherry University (PU), National Institution of Technology Pondicherry.
These reputed institutes are known for providing quality education and campuses to students. This draws in demand for hostels and other co-living spaces in this UT.
• Location
The strategic location of Puducherry makes it easily approachable from any part of India.
It has excellent road connectivity to major towns and cities in the nearby states of Karnataka, Tamil Nadu, Andhra Pradesh and Kerala. The nearest railway junction is in Villupuram, and there is a meter gauge railway line connecting it to Puducherry.
It also has a regional airport located in Lawspet. There are also 3 minor seaports situated in Puducherry. Its transport infrastructure promotes exports and imports, which boosts the development of industries and real estate demand.
• Hospitals and Other Medical Facilities
Puducherry provides its residents with proper medical infrastructure with world-class multi-speciality hospitals like New Medical Centre, East Coast Hospital and government hospitals like Indira Gandhi Government General Hospital and Pondicherry Institute of Medical Science.
These hospitals are facilitated by proper roadway connectivity, which makes them easily accessible to the population in case of emergencies.
• Employment Opportunities and Emerging Industries
Puducherry is home to various manufacturing as well as IT industries. These industries are in an emerging state. While some IT giants like WIPRO have already established their workplaces, many are yet to come. Moreover, the Puducherry Government has set aside areas for IT development to encourage more commercial investments in the city.
Fisheries and agricultural activities are well-established industries in this Union Territory and provide plenty of revenue.
• High-value Real Estate
Puducherry is one of the top tourist places in South India. Investors can rent out the property to host special events or to tourists for stays to gain returns. Tourist places often attract tax exemptions for real estate investments. Moreover, having residential real estate in exotic locations provides a picturesque experience away from cities after retirement.
Related Posts