Prayagraj, formerly known as Allahabad, is a city rich in culture and tradition in Uttar Pradesh. The city is undergoing a massive transformation thanks to the state government’s infrastructure development initiatives. All these developmental projects make it an attractive destination for real estate investment. But what could be your ROI of a residential property in Prayagraj? Let’s find out.
The Impact of Mahakumbh 2025 on Real Estate
Mahakumbh, scheduled for 2025, will be a mega event with devotees and tourists expected to come from all over the world. The state government is leaving no stone unturned in its preparations to beautify the city. This event is not just a religious gathering but a global showcase of India’s cultural and spiritual heritage.
Therefore, the city is changing to reflect its historical and cultural significance. The beautification projects involve rejuvenating 38 junctions and the development of more than 75 kilometres of urban roads. These efforts will increase the popularity of flats in Prayagraj.
Development of Infrastructure – A Catalyst for Property Appreciation
The ongoing infrastructure development is another crucial factor in determining the ROI of investing in 1 and 2 BHK flats in Prayagraj. The judicial city of Uttar Pradesh is witnessing improvements across several sectors. From the development of green belts to the installation of thematic gates, the liveability index is currently high in Prayagraj. When the context is about long-term ROI in real estate, apartments in Prayagraj are your best option.
Rental Yields and Capital Appreciation
It is crucial to assess rental yields and capital appreciation when evaluating real estate ROI in Prayagraj. The rental yields for 1 BHK flats in Prayagraj will increase with numerous people seeking smaller accommodations during the Mahakumbh. On the other hand, capital appreciation is on the cards with the city’s enhanced infrastructure and improved image.
Therefore, it is pretty evident that investing in residential apartments in Prayagraj will provide a high ROI. New Modern Buildwell Pvt. Ltd. (NMBPL) brings affordable flats for sale in the city. Reach out to NMBPL for a site visit at their iconic AVANI D and Tower T-15 projects.