Ten cities to witness massive realty growth!

Growing demand for quality construction in tier-one cities due to increasing urbanisation is putting considerable pressure on infrastructure. The 32 percent urbanisation in 2013 will reach 36 percent by 2023. Due to this, the opportunities for development in other cities have increased. As people’s incomes increase and consumption levels increase, the Tier 2 towns have become havens for retail investment. Consumption in these towns increased due to the establishment of first-of-its-kind malls and new commercial streets. It is likely to grow further in the coming days. The main reason can be said to be the availability of affordable flats in the residential sector.

The present metro rail system in 10 cities and possibilities for setting it up in the future have been taken into consideration in preparing the report. All aspects of the real estate sector, such as the growing population, house prices, GDP, etc., in the respective cities were taken into consideration. On this occasion, Credai President Boman R. Irani said that due to factors such as India’s economic system making significant progress and rapid urbanisation, there are enormous opportunities for the development of the commercial real sector in new cities. He said that along with the existing eight cities, these new cities will grow as alternative areas. On this occasion, Anshul Jain, Head of Cushman and Wakefield, said that the real estate sector is playing a major role in India’s growth story. It has been revealed that by 2026–27, our economy is likely to touch five trillion dollars. In the latest report, we have focused on 10 cities that have scope for development, he added.