Future of Real Estate in Tier 2 Cities of India
Affordability and high rate of rental returns is another set of factors that has led investors into pumping their money in housing and commercial segments in real estate markets of Tier 2 cities.
Future of Real Estate in Tier 2 Cities of India
New Delhi: Real estate is an imperishable asset, ever-increasing in value. It is the most solid security that human ingenuity has devised. It is the basis of all security and about the only indestructible security.
On that note, Mr. Hirav Shah, the Astro Strategist cum Business Astrologer, who has been working closely with many of the leading Developers, Infrastructure, and Real Estate giants of India, USA, etc as a Real Estate Strategist, Real Estate Investment Advisor, Property Investment Advisor quotes,
Rural, Semi-urban and Urban areas like Ahmedabad, Jaipur, Pune, Chandigarh, Kochi, Nashik etc.. are all developing at a very fast pace in India. The infrastructure is connecting all three, leading to the rise of interest and investment in the sector. The sector focused policies, the long term gains and the very fact that Real estate is a proud asset, are all the reasons why leading companies in India are focusing on Real estate development and foreign investors are also keen on it.
Real Estate Growth in Tier 2 Cities (For Housing And Commercial Both)
Hirav Shah, Astro-Strategist and the Most Influential adviser in the field of Real Estate says,
Growth of industries, particularly in the sectors of Information Technology (IT) and Information Technology Enabled Services (ITES) in Tier 2 cities, amongst other factors, has resulted in the emergence of robust real estate development in these markets over the past few years. The spread of the services industry into various parts of India, away from Tier 1 and metro cities, has only been the basic driver of this growth story. Increased connectivity avenues, including air and road transport networks, affordability of properties, growth potential of the towns in terms of further industrialisation and higher rate of returns on rentals are some of the other factors leading to growth of real estate in Tier 2 cities.
Real Estate Strategist, Hirav Shah asserts, One of the major factors for real estate growth in Tier 2 cities is the initiative undertaken by our Prime Minister in pushing urban development into the far corners of India through the Smart City mission. The union urban development ministry has identified as many as 100 cities across the country to be developed under this mission. The selected cities will be retrofitted with most urban and state-of-the-art civic facilities available in order to provide its citizens an experience of world class living.
The Central government will pump in Rs 2,05,018 crore for development projects in the 100 smart cities. The cost includes Area-Based Development and Pan-City Solutions too. What makes real estate investment in Smart Cities attractive are government initiatives at promoting mixed land use and a variety of transport options, efforts at making governance citizen-friendly and cost effective as well as preserving and developing open spaces for pollution-free environment. Greenfield areas are also being identified in these cities by the respective local state governments for purposes of development
Other Factors For Real Estate Growth (For Housing And Commercial Both )
Celebrated Real Estate Astrologer Hirav Shah Adds,
Affordability and high rate of rental returns is another set of factors that has led investors into pumping their money in housing and commercial segments in real estate markets of Tier 2 cities. In most of these cities, the floating population has increased due to expansion of services industries and the concurrent growth of retail and wholesale business along with it. Employment driven in the services industry and its lower rungs has ensured that rentals have shown steady growth in these cities on a year-on-year basis.
Shah Says, Sentiments at the core of family values have also been responsible for a great degree in ensuring real estate growth in Tier 2 cities. Those employed in the services sector in the metros and Tier 1 cities have found it valuable to invest in another property in cities where they spent their growing-up years or where most of their relatives and distant family members reside. In many cases, investors have found it worthwhile to invest in new high-rise apartments in their home towns in order to keep an alternative for their ageing and old parental properties.
In the future, real estate development in Tier 2 cities will be a lot dependent on the Smart City mission of the Central government which is already in its first phase. Nearly 9.96 crore of the urban population will be affected by this mission which has the potential to spur real estate development to greater heights in Tier 2 over the next few decades. Demand for residential as well as commercial and warehouse spaces is expected to rise in the 100 smart cities after they are developed.
Hirav Shah concludes by saying,
Real Estate’s growth is happening in the future in Tier 2 cities and that too exponentially !!
Before making any massive action, it’s IMPORTANT TO KNOW THE DESTINATION and the key is ASTROLOGY.
ASTROLOGY is the only way, by which you get to know in advance before making any strategies for the future.