Kamal Khetan CMD Sunteck Realty, in an exclusive interview with Outlook

Posted November 25, 2022 by kajalsharma

As urbanites seek sustainable living options in developing cities, a growing number of tier 2 cities are widening the horizons of the Indian real estate sector and playing a vital role in the country’s growth story.
With relatively higher return on investment, over-saturation of metros, diverse customer base and wide range of properties, smaller cities are trumping metros when it comes to making an investment in property. Besides the top seven cities, property enquiries in recent times have been extensively seen in tier 2 cities such as Lucknow, Jaipur, Ahmedabad, Coimbatore, Chandigarh, Ludhiana, Amritsar, Indore, etc.

Industry experts are of the view that tier 2 cities are mainly gaining traction owing to their growing economic significance, infrastructure development and improved connectivity According to Anuj Puri, chairman, Anarock Group, what aids the realty market in these smaller cities is their affordable prices as against big cities and the superior infrastructure which these cities provide.

Further, Anarock’s consumer sentiment survey conducted post covid revealed that out of all participants who would prefer to buy in any of these tier 2 & 3 cities, 61% are end-users while remaining are buying for investment purpose.
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Last Updated November 25, 2022