These are the top Indian cities that will offer best property bargains in 2017

The year 2017 seems to be a promising one for India. The New Year will bring in lot of lucrative investment deals in India, which will also be one of the best in the whole of Asia.

One of the best deals in 2017 in India will be real estate. As per a survey, Bengaluru and Mumbai will be India’s top picks for real estate investment, and these cities will lead a table of 22 Asian markets.

The survey, compiled by the Urban Land Institute with input from PricewaterhouseCoopers LLP, stated an uptick in business process outsourcing, or BPO, and IT firms that are driving demand for new office space.

"There is little doubt that catering to the expansion requirements of the Indian BPO industry has delivered big profits to investors who arrived early on the scene. Today it remains a compelling story," stated the survey.

Bloomberg reported the two cities only ranked 12th and 13th last year and were close to the bottom as recently as 2014.

Meanwhile, Tokyo, which was at Number 1 in 2016, fell to 12th spot for 2017, a reflection of growing discontent with the effect of Abenomics on a long-stagnant market.

Bloomberg reported declining economic prospects are hurting short-term prospects for office rental growth, despite low vacancy rates, the survey found. Negative interest rates are also a factor, as they lead to a lack of willing sellers.

Singapore will also feature at 21st for next year.

Still, India will have to face a tough competition from China, and outside Asia especially New York and London.

Chinese buyers have been piling into bargain London property in the wake of Brexit, and scouring the globe for any available real-estate investment opportunity.