Top 10 Tier-II Cities To Invest In
Property markets of big cities have their own charm, but those looking to make big money at small investments would find India’s Tier-II cities the most attractive. This is no sentimental banter ─ data available with Makaan.com show demand for housing in these cities have been consistently growing. Now, if one were to invest there, where could one start looking?
Check out top 10 tier II cities for buying a property
It is only natural that Lucknow, the city that happens to be the capital of the country’s most populous state Uttar Pradesh, is ever expanding. Lucknow is expected have an estimated population of 65 lakh by 2031, and keeping that in mind authorities have in the recent past added almost 197 villages under its fold. Those looking for affordable property in the state capital would find these new hotspots suitable to their liking, money-wise.
Current hotspots: Sultanpur Road, Rae Bareli Road, Faizabad Road, Kanpur Road
Localities to watch out for: Properties along the Shaheed Path
This is the largest city of a state that is known for its industrious spirits. Thousands of migrants join the city to earn a living here every year, considerably driving the demand for housing in Ahmedabad. New development projects such as the GIFT City, the Golden Quadrilateral, etc., have also significantly contributed to the investment climate in Ahmedabad.
Current hotspots: Bopal, Chandkheda, Thaltej, Jodhpur, Prahlad Nagar
Localities to watch out for: Chagodar, Narol, Vatva, Lambha, Odhav
Those aspiring to live close to the City Beautiful have all the reason to love Zirakpur, its affordable peer that is part of the Chandigarh-Mohali-Panchkula tri-city. The fact that Zirakpur is teeming with new projects, townships and avenues for entertainment and leisure makes this new realty hub even more exciting for buyers as well as investors.
Another commercial hub in Gujarat, Surat, the diamond city of India, has been ranked the world’s fastest growing city. Mega infrastructure projects that are coming up here have certainly adding to its exiting charms. The Surat Metro project and the Mumbai-Ahmedabad bullet train project are seen giving Surat realty the required boost it needed.
Current hotspots: Adajan, Pal, Palanpur
Localities to watch out for: Localities along the metro route
If you are looking for price appreciation, Nagpur would be an appropriate choice. The city has figured in the list of top global cities where prices have grown considerably annually. Also, this is a Tier-II city that has got itself luxuries afforded only by big cities without losing the charm smaller cities possess. With the Nagpur Metro getting operational this year, connectivity in Nagpur has improved manifold here.
Authorities expect the population of Nagpur to double by 2050. Developers are seen launching new projects, to supply the increased demand in future.
Current hotspots: Wardha Road, Wardhaman Nagar, Hingna Road
Localities to watch out for: Areas along the Metro route
This micro-market in the national capital region boasts a strategic location and given its proximity to the job hubs of Noida, Delhi and Gurgaon. The prospects of the city as a realty hotspot improved manifold with the Metro network expanding in key parts of the city this year. The Delhi Metro’s Read Line now goes till New Bus Adda here. Plans are also afoot to link the Mohan Nagar station on this route with the Noida Electronic City station on the Blue Line.
Current hotspots: Raj Nagar Extension, Lal Kuan, Indraprastha Yojna
Localities to watch out for: Raj Bagh, Rajendra Nagar, Shyam Park, Mohan Nagar, Shaheed Nagar
Another capital that has been seeing expansion! Sensing the potential of Patna as a real estate hotspot, developers have also launched several projects here that come with world-class amenities. On their part, authorities are doing their bit. The city is set to have an operational Metro network by 2024.
Current hotspots: Boring Road, Boring Canal Road, Kankarbagh, Rajendra Nagar
Localities to watch out for: Bihta, Gopalpur, Chhatna, Phulwari Sharif, Indrapuri
Well, who would not love to live in Pink City Jaipur, given a choice? And, it is not only the beauty and historical significance of the city that is attracting homebuyers. Jaipur is also turning into a top choice for IT giants to set up shop. Besides, capital value of property is affordable and in the range of Rs 3,000-6,000 per sqft in established areas. The upcoming Delhi-Jaipur Express Highway is another growth indicator. The two cities will be linked leading to spurt in business and job opportunities.
Current hotspots: Mansarovar, C-Scheme
Localities to watch out for: Ajmer Road, Tonk Road, Sikar Road, Sirsi Road and Delhi Road
A favourite real estate destination for senior citizens, Coimbatore, is also loved by young buyers for the work opportunities and the cosmopolitan culture it offers. Though a small city, it has rapidly transformed into a self-sufficient city catering to all kinds of demographics.
Current hotspots: Avinashi Road
Localities to watch out for: Puliakulam, Vadavalli, Kovai Pudur, Madampatti, Malumichampatty
Realty here could also ride on the Metro ─ the Faridabad-Gurgaon Metro could be operational by 2021. This would mean those working in Gurgaon could consider Faridabad for a property investment, a property market that is way more affordable than the Millennium City. Plans are also being worked out to connect the city with Greater Noida.
Current hotspots: Nehrapur, Surajkund, Green Valley
Localities to watch out for: Sector 86, Sector 42, Sector 89