Several Tier-2 cities have seen an influx of real estate investments due to many factors, lately. Establishment of industries, improved standard of living, easy availability of land, enhanced connectivity, and reverse migration, to name a few.
Availability of abundant job opportunities, metro projects ad e-commerce companies is a few other reasons behind the growth of the Tier-2 cities.
Rajdarbar Realty Group:
Rajdarbar Realty Group which is a renowned real estate group has been gaining ground when it comes to sustainable realty projects across the country. Many such realty leaders have undertaken projects which will change the landscapes of the smaller cities, keeping in mind the present and future needs of the investors. In cities like Gurugram, Hisar, Agra, and Meerut, various commercial and residential projects are under different phases of construction. Potential hotspots identified and targeted by the real estate players to attract investors and buyers.
Keeping in mind the ‘Make in India’ program by the government, many strategies and measures have Inside to shift the focus to the Tier-2 and Tier- 3 cities.
The accelerated growth in these establishments has catalyzed by the ongoing Covid-19 pandemic which has prompted people to live in comparatively lesser crowded cities. The concept of working from home has made people realize the necessity of having a roof over one’s head and the growing need for space to accommodate all the members of the family is another contributing factor for a boost in the real estate segment. Moreover, with easy access to high-speed internet and affordable technology, working from home is a blessing that saves us a lot of traveling time and money.
Buyer’s Preference:
“The buyer’s preference for a location change is fuelling property demand in the peripheral locations of cities today,” says Vice-chairman and MD of Dosti Realty, Deepak Goradia.
Around 104 cities classified under the Tier-2 segment have their own pros and cons. A few advantages include excellent public transport, well-established hospitals, schools, banks, shopping areas, lesser traffic and low cost of doing business.
Lesser economic activity, fewer jobs, absence of MNCs, and poor international air connectivity are some of the disadvantages which might be the case for some Tier-2 cities.
Investors and buyers are getting more and more attracted due to plenty of available space, pocket-friendly standards of living, pollution-free environment, and affordable luxurious properties picked up as business projects by developers like Rajdarbar Realty Group.