The Rise of Tier II and Tier III Cities in India: A Developer's Perspective

August 31, 2024 05:08 AM AEST | By NewsVoir

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The Rise of Tier II and Tier III Cities in India: A Developer's Perspective — Image source: Kalkine Media

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As India witnesses unprecedented growth, the focus has shifted towards the development of tier II and tier III cities. Real estate developers are seizing this opportunity to create a vibrant infrastructure that caters to the evolving needs of businesses and residents.

Infrastructure development at par with Metros: Rise of Tier 2 &3 cities

Mr. Mukul Bansal, Managing Director of Motiaz, emphasized the immense potential of these cities. "Tier II and III cities are the future growth engines of India. With improved connectivity and infrastructure development, businesses are no longer confined to metropolitan areas. We are witnessing a strong demand for quality housing and commercial spaces in these regions."

Echoing this sentiment, Mr. Tejpreet Singh Gill, MD of Gillco, added, "The rising aspirations of people in these cities are driving the demand for premium housing. At Gillco, we are committed to delivering world-class amenities and sustainable development to meet the expectations of this growing market."

Mr. Neeraj Kansal, Managing Director of Royale Estate Group, pointed out the role of the government in supporting this shift. "The governments focus on smart city initiatives and infrastructure development in tier II and III cities has created a conducive environment for investment. We are excited to be part of this transformation, contributing to the growth of these cities as thriving business and residential hubs."

Mr. Yash Miglani, MD, Migsun Group highlighted the affordability aspect. "Affordability is a key factor driving the migration towards tier II and III cities. With rising costs in metro cities, people are looking for alternatives that offer a better quality of life without compromising on amenities. We are focused on developing projects that cater to this demand."

As developers continue to invest in tier II and III cities, the real estate landscape in India is poised for a significant transformation. These cities are no longer seen as mere satellite towns but as growth centers with immense potential for the future.

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