While investing in a big city, keep a few things in mind. If you are purchasing for self-use, make sure you buy a new home in a neighborhood that has all the conveniences that you require and also has good accessibility to the other parts of the city. Even in premium localities, if you keep searching, you will find properties that suit your budget. If you cannot afford the premium rates, look for a locality on the fringes of your area of choice. This will have all the advantages of proximity to the main locality but spot lower price tags. If you are someone investing in a new property in a virgin corridor where the development work is yet to begin, the prices are usually low before infrastructure comes into the picture. Once the infrastructure work begins, prices rise to about 25 percent. When the property development reaches mid-way, there is another 25 percent escalation in prices. Six months from completion, there is yet another 25 percent escalation. Once possession takes place, there is another 25 percent increase in rates.
