India's Tier-II Cities Emerge as New Real Estate Hubs
India's smaller cities are becoming vibrant centres of growth and opportunity in the real estate market
Real EstateTier Ii CitiesInfrastructureConnectivityEconomic GrowthReal Estate NewsMay 31, 2024
In cities like Meerut, where multiple infrastructure projects are underway, developers have already acquired land for future projects two to three years in advance. Satellite cities like Meerut in Uttar Pradesh, and Sonipat, and Sohna in Haryana are becoming real estate hotspots due to infrastructural developments enhancing their proximity to major metropolitan areas such as New Delhi and Gurugram. Standalone markets such as Lucknow in Uttar Pradesh and Indore, Madhya Pradesh, have also gained prominence.
The growth of these cities can be attributed to the increased investment in infrastructure, which has improved connectivity and reduced travel times. This has made them attractive to people looking for affordable housing options with good connectivity to major cities.
In recent years, India has witnessed rapid urbanization, leading to an increased demand for housing and infrastructure. The government's initiatives to improve connectivity and infrastructure have played a crucial role in the growth of Tier-II cities.
Business Standard is a leading Indian business daily that provides comprehensive coverage of the Indian economy, business, and finance. With a strong online presence, Business Standard brings to its readers the latest news, views, and analysis on the Indian business landscape.
Frequently Asked Questions
What is driving the growth of Tier-II cities in India?
The growth of Tier-II cities in India is driven by economic growth acceptable travel times and increased regional connectivity
Which cities are becoming real estate hotspots?
Satellite cities like Meerut in Uttar Pradesh and Sonipat and Sohna in Haryana and standalone markets like Lucknow in Uttar Pradesh and Indore Madhya Pradesh are becoming real estate hotspots
What is the impact of infrastructure development on real estate in Tier-II cities?
Infrastructural developments have enhanced the proximity of Tier-II cities to major metropolitan areas making them attractive to people looking for affordable housing options with good connectivity
How has the government's initiative impacted the growth of Tier-II cities?
The government's initiatives to improve connectivity and infrastructure have played a crucial role in the growth of Tier-II cities
What is the current trend in the Indian real estate market?
The current trend in the Indian real estate market is the emergence of Tier-II cities as new hubs for real estate growth and development
Related News Articles
Indian Real Estate Sees Resurgence in Private Equity Investments
Private equity investments in Indian real estate surged 15% YoY to USD 3 billion in H1 2024, driven by growth in warehousing and residential sectors.
Government Offers Flexibility to Taxpayers on Capital Gains Tax for Real Estate Transactions
In a move to simplify tax calculations, the government has introduced an option for taxpayers to compute capital gains tax on real estate transactions. This change is expected to benefit property sellers and reduce disputes over tax liabilities.
Small Cities, Big Opportunities: How Tier-2 and Tier-3 Cities are Revolutionizing the Real Estate Market
Mid-tier cities like Faridabad, Lucknow, Vrindavan, Ludhiana, Chandigarh, Indore, Dehradun, and Jaipur are becoming hotspots in the real estate market, offering a low-cost, peaceful life and high returns on investment.
Pre-Budget Expectations for the Real Estate Sector in Maharashtra
MahaRERA appoints NAREDCO Maharashtra as the first self-regulatory organization. The Maharashtra Real Estate Regulatory Authority makes a significant step towards ensuring transparency and accountability in the real estate sector.
Barbara Corcoran to Headline Kinexions 2025: A Premier Supply Chain Conference
Real estate mogul and entrepreneur Barbara Corcoran will take center stage at the premier supply chain conference of the year in Ottawa, Ontario, Canada.
Housing Sales Surge in India's Top 15 Tier-II Cities by 20% in Value
Coimbatore leads the growth with a 36% increase in sales volume, while Visakhapatnam's real estate market experiences a 21% downturn.