Before investing, one must understand the nuances of this emerging sub-asset class.
Key drivers: Employment, infra growth Tier-II cities are emerging as attractive real estate destinations due to expanding employment opportunities. "Many of them are witnessing the development of information technology (IT) parks. Some are developing as industrial hubs," says Santhosh Kumar, vice chairman, ANAROCK Group.
Improving connectivity is another major driver. "Airports have come up in many Tier-II cities. The road network has also improved vastly, creating demand for real estate in these cities," says Samir Jasuja, founder and CEO, PropEquity. Several cities have also introduced Metro rail networks.
Lower cost of land in Tier-II cities makes them appealing to developers. In addition, aspirations are rising. "Demand for quality housing, including luxury options, has surged," adds Kumar.
Esta historia es de la edición December 18, 2024 de Business Standard.
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Esta historia es de la edición December 18, 2024 de Business Standard.
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