Saturday, October 3, 2009

Best places to buy a Vacation Home in India

Bettys Place GoaImage by Cajie via Flickr

So I am sure quite a few of you'll must be thinking of buying a second home. What are good locations that I would recommend for the same?

1. Goa:- This is in my opinion the best location for a Vacation home for two main reasons - the potential for income generation and secondly the number of good restaurants, amenities, flights etc. available to make getting and living here convenient.

2. Khandala/ Lonavala:- Ideally located for people from Bombay and very accessible given the Pune Expressway.

3. Pune:- Again fantastic amenities, good nightlife, a potential for decent income through short and medium term rentals and reasonable property prices.

4. Shimla:- Very accessible from Delhi/ NCR, Good weather and decent amenities.

5. Bangalore:- Again very good weather, nice complexes and very reasonable prices on the outskirts of the city.

6. Nainital:- Again very accessible from Delhi and with decent amenities. Capability to generate income is limited but this could change in the future.

7. Kerala:- For those originally from Kerala or who could contemplate living there full time in the future.

The other two cities I would classify as evergreen cities to buy a second home:-

1. Delhi:- (try the outskirts, Gurgaon, Noida) Remarkable cultural attractions andgoa museums, all big city amenities, nightlife, resort style facilities in newer complexes. Very good potential for income generation.

2. Mumbai:- (Areas like Bandra, Andheri (West), Powai, Kandivali (E): Again very good cultural and tourist attractions, Evergreen rental income and ample things to do and places to see.

With the last two it would be advisable to set aside a budget of at least 1.0 Crore and so these are only options for the truly wealthy.

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