Whilst metro cities in India have begun their struggle with overpopulation, lack of space and diminishing resources, the tier 2 and 3 cities are emerging as attractive investment hubs and taking the economy forward.
India today has retained its position in the global economy and this has encouraged stakeholders to view the Indian market more favorably. Having an economy that is growing steadily, the country is going through a new phase in growth. Additionally, a noticeable growth in GDP is backed by pioneering policies and initiatives by the government stimulating regulatory framework and safeguarding a better investment climate attracting more investors. Positive business sentiments have propelled companies to expand their offices here thereby boosting the demand for the commercial realty sector.
Whilst metro cities in India have begun their struggle with overpopulation, lack of space and diminishing resources, the tier 2 and 3 cities are emerging as attractive investment hubs and taking the economy forward. Due to pressure on resources, the metropolitan cities are making way for these cities gaining momentum in attracting investors. With high economic growth, pre-eminent infrastructure and an easy access to manpower, these cities are seeing an upturn in commercial real estate segment. Moreover, focused development strategies by the government including investment-friendly reforms, expansion of adequate infrastructure, and expanding metro lines improving connectivity to metro cities have aided these cities to be progressive and feature on the map of desirable investment hubs. Not only are these cities growing economically but they are also accomplishing enabling factors which will continue to keep them steady on the growth graph. These cities are growing very fast in terms of economic and investment growth.
The small towns and cities stand as emerging centers of growth and are providing a new thrust to India’s booming economy. Due to large cities getting engulfed with high property and rent values, investment companies seek out other alternatives that fulfill their requirements of low real estate costs and skilled manpower. Improved infrastructure and upcoming fast-paced connectivity options have augmented the demand for commercial realty in these emerging cities. The commercial segment has therefore no longer restricted itself to tier 1 cities but has now pervaded to smaller towns and cities and these cities are lending a sparkle to India’s booming economy. Unexplored territories that remained an untapped asset in tier 2 and 3 cities are now promising great potential in terms of demand in the commercial segment. They are showing a strong momentum with an improved demand appetite. The elements of growing real estate market here are improving significantly with skilled and educated manpower, emerging healthcare, and excellent civic infrastructure.
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