The Indian real estate market has undergone tremendous changes in recent years with even the Tier II cities proving to be good markets. This is thanks to a change in demography and technologies not being restricted to certain cities, and thus cities like Indore, Coimbatore, and Surat have an increasing thirst for residential and business properties. As Anurag Goel the Director of Goel Ganga Developments, states, The provision of affordable housing and increasing employment opportunities are important factors, but there are hurdles like the provision of infrastructure and environmental issues.
As the governments are trying to promote the development of more interventional regions through the development of more IT hubs and also the Smart Cities Mission, there is the problem of developments not being equitable to all the regions. For the real estate investors, cities of Kochi and Jaipur are quite attractive with the returns, however, the future of such cities with such real estate markets will depend on the economic diversity and governance within the city. Therefore, through proper measures of plan and development, the Tier II cities may be able to emerge into the canvas of real estate markets as their sustainable development.
Read More: Real Estate Boom in Smaller Indian Cities: A Sustainable Trend?
