A Satellite Town refers to a smaller metropolitan area which is located somewhat near to larger metropolitan area but has mostly independent administration and other important infrastructural facilities. The most important feature of a satellite town is the presence of good connectivity followed by well-developed infrastructure, amenities, residential areas, etc.
In India, some of the prime satellite towns include Gurugram, Navi Mumbai, Kalyan-Dombivili, Ambernath, Yelahanka, Panchkula, Noida, Ghaziabad, Faridabad, Sonipat etc. With the course of development, even the real estate market of these towns has emerged as the prime locations to invest.
Take a look at some of the prominent satellite towns which have today become real estate hotspot among property buyers:
Touted as the millennium city of India- Gurgaon or Gurugram is a dream real estate investment destination for millions of people living in the NCR region. Due to well-developed infrastructure, smooth connectivity and presence of top-notch MNCs and IT/ITes companies, the city is the hub for many professionals. Because of a good commercial background, the real estate prices in the city have increased too many folds in the last two decades.
New Town, Kolkata
A rapidly developing suburb in Kolkata, New Town is located partly in North 24 Parganas district and South 24 Parganas district. This satellite town is well-connected to Kolkata and adjoining areas via VIP Road and is just 4 kilometers from the Netaji Subhash Chandra Bose International Airport. Salt Lake, the biggest commercial area and sector-V, the new commercial hub are also within close proximity to New Town.
In recent time, many integrated townships comprising of residential units, commercial centers, and corporate complexes have launched in New Town area making it a preferred locality to invest among many prospective home buyers.
A prominent satellite town of Bengaluru is older than the main city and is today one of the best residential hubs for real estate investment. The city has an excellent connectivity via road, rail, and air. The road network to Yelahanka is one of the best in entire Bangalore. Kempegowda International Airport is located off Yelahanka. National Highway 7 (North-South Corridor) also passes through Yelahanka.
Many renowned educational institutions are also present in this town namely Canadian International School, Bhuvan Institutions, Nagarjuna Vidyanikethan, Kendriya Vidyalaya RWF & CRPF, Sir M. Visvesvaraya Institute of Technology, BMS Institute of Technology, Bhuvan Polytechnic and Sri Venkateshwara College of Engineering, Bangalore. Yelahanka is also known for the presence of an Air Force Station and a defence airport situated on NH7.
Navi Mumbai and Thane, Maharashtra
Situated across two districts namely Thane and Raigad, Navi Mumbai is a planned city off the west coast of Maharashtra and has emerged as a major residential and commercial hotspot in recent times. Areas in Navi Mumbai like Karanjade, Ulwe, Ghansoli, Panvel, Airoli, Taloja, and Kharghar are offering many ready to move properties which fall in the range of 36-80 lakh.
On the other hand, Thane which is also a part of the Mumbai Metropolitan Region (MMR) and one of the most populous urban regions in the world is also offering residential units at budget-friendly rates. Localities in Thane (west) offer many luxurious ready to move in housing units by renowned developers.
Pendurthi is a satellite city situated in Visakhapatnam. It is considered as the prime residential and commercial area in the district. This place is near to the areas such as Kancharapalem, Kapuluppada, Kavali, Mamidilova, Marripalem, and Purushothapuram. The region has received a major boost with the formation of the Visakhapatnam-Chennai Industrial Corridor, which has brought with it various benefits, like improved connectivity and power transmission and delivery networks. Due to this, many IT companies, MNCs and leading developers are eying this town to set up their offices as well as projects here.