A report has been presented on 10 cities in India regarding the emerging real estate sector. According to a report by CREDAI and Cushman & Wakefield, Lucknow, Kochi, Jaipur, and Bhubaneswar are among the 10 emerging markets for growth in the real estate sector.
Real estate body CREDAI and real estate consultant Cushman & Wakefield on Friday released a report on India’s next 10 emerging commercial real estate future developments during the 21st NATCON in Egypt. The other six cities in this list are Coimbatore, Indore, Nagpur, Surat, Thiruvananthapuram and Visakhapatnam.
Anshul Jain, MD of Cushman & Wakefield, said that there is a whole story of secondary cities growing rapidly. A report has been prepared on 17 cities, and many factors have been focused on this. This includes infrastructure, education and growth.
He said that out of 17, there are 10 cities where investment and growth in real estate will be seen increasing rapidly in the next four to five years. Delhi NCR, Mumbai, Bengaluru, Pune, Hyderabad, Chennai, Kolkata and Ahmedabad remain the 8 major real estate markets.
The report estimates that these 10 Tier-II will soon strengthen India’s growth. CREDAI Chairman Boman R Irani said that as India continues its remarkable journey of economic growth. The report says that more new cities will join the real estate market.
The report notes that many cities have witnessed rapid growth in the residential sector and are performing well on affordability parameters. One reason is that infrastructure is developing rapidly in Tier II of India. Besides, the construction of roads, etc., is also going on rapidly.
