Indian Cities With Real Estate Potential

Major cities like Delhi, Mumbai and Bangalore come under those places where property rates have amplified severely over the years

. This situation has directed to the financiers looking for properties in Tier II and Tier III cities.

These cities are now fetching the new real estate centres in India, with both commercial and residential projects being established in a profligate pace.

The expanding revenue levels and the developing business atmosphere have permitted the development of the retail sector in these cities. The trade reports estimate that 35 per cent of the retail space will come up in Tier II and Tier III cities, in the coming years.

Tier II cities like Hyderabad, Chennai, Pune and Kolkata are already on the path of playing a major role in real estate development. Major Indian and multi-national companies have identified these cities to establish their business in India. Today, one can witness a range of business activities that was never heard of before.

Tier III cities like Chandigarh, Lucknow, Ludhiana, Jaipur, Ahmedabad, Guwahati, Surat, Nagpur, Goa, Mysore, Coimbatore, Visakhapatnam, Kochi, Vijayawada, Mangalore, Trivandrum and Baroda have great potential for growth.

One of the reasons that make these cities a preferred choice for investment in business and real estate activities is the cost factor. Cost factor is the only cause which makes these cities a favoured option for venture in corporate and real estate actions in the cost factor. In comparison with Tier I cities, the capital values are much lower in Tier II and Tier III cities. The price of labour is toolittle. The leasing is comparative to the capital prices; cost of living is the reason for less manpower. This is one of the reasons that many IT and ITES companies are setting up business here. Retail giants and other business conglomerates are eyeing these cities as potential investment destinations.

The numerous options available in these markets are a great advantage. With many constructions under progress, is it commercial space for offices or residential houses/apartments, there is plenty to choose from.

If one wishes to lead a peaceful professional and personal life, Tier II and Tier III cities are good choices. They are any day better to the environment pollution, traffic congestion, power and water shortages, and choking civic systems that accompany Tier I cities. There is always a better connection among people in smaller town as there is sufficient time for socializing. More NRIs prefer to come back to India to lead such a life of family values.

All the above factors put together have created a demand for residential spaces. The influx of knowledgeable professionals is on the rise, which is a factor for growth of smaller economies. The present trends coupled with favourable Government policies, point the needle towards a promising future.

by: kamal bhatt

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