Five most promising Indian tier II cities you should invest in
These five Indian cities are the top thriving places to invest in if you are looking to buy properties.
During the past decade, we have witnessed immense changes across the cities in the country solely due to the economic growth, developments in infrastructure and advancement in the services division. While the metros will develop further, the upcoming phase will witness the rise of tier II cities with a considerable leap in their economic status.
Some of these cities below will be soon seen playing a key role in the country’s growth and progress to modernize the country. The cities that will be in the forefront of the upcoming growth includes Surat, Nagpur, Vadodara, Indore, Chandigarh, Gurgaon, Thane, Vishakhapatnam, Navi Mumbai, Nashik and more. If you are looking to invest in property in 2016, these could be some of the cities to consider:
Surat, Gujarat, has a population of over 44 lakhs. It plays host to ONGC, GAIL, Ambuja, UltraTech, NTPC-KGPP Power Plant, Essar, L&T, Reliance Petroleum, Cairn India along with several IT firms. Some of the highlight projects proposed that include Surat are the Mumbai-Ahmedabad bullet train with a halt in Surat, four-lane highways between Dakor-Savli, Vadodara-Dabhoi & Surat-Olpad-Bardoli and plan for Rs 90,000-crore Mumbai-Surat tunnel road and construction of modular cargo terminal.
Nagpur, Maharashtra, has a growing population of 25 lakhs. The city flaunts firms like Mahindra & Mahindra, Indo-Rama and Electrolux that have been operating there for a long time. Companies like DLF, Mantri, Satyam, Sahara and Raheja have obtained huge expanse of land to build townships. This thriving city is awaiting Nagpur Metro, Nagpur-Secunderabad and Nagpur-Bilaspur high-speed train, 10-lane flyover cum under-bridge in Pardi, multi-modal international hub airport and development of the first IIM in the state.
Vadodara, Gujarat, with population 16.6 lakhs will soon be showing off infrastructure like the Narmada canal’s 10-MW solar power project, Sardar Sarovar Dam, National Expressway 1 connecting Ahmedabad and Vadodara, NH-8 connecting Delhi and Jaipur that have been proposed, alongside the current projects like the six-lane Vadodara-Surat highway, four-lane Vadodara- Mumbai Expressway, development of Statue of Unity and the convention centre in Surat and Vadodara, the IT Zone, etc.
Indore, Madhya Pardesh, with a population of 21.95 lakhs sports the SEZ, the food park, the apparel park, ICD Indore-Edelabad Road and Indore-Ujjain Road. The city will exhibit projects like three-corridor metro rail, Indore-Ichhapur Road (SH-27), Indore-Ahmedabad Road (NH-59), non-polluting and multiproduct industrial regions – Kasarwardi, Hatod Sardarpur, Relwa Khajuri, Rehta Khadkod and Bamnia among others.
Chandigarh, Punjab, is home to a population of 10.7 lakhs. This prosperous city has sports grounds and complex, corridor streets for speeding vehicles & traffic, well organized water supply and underground network of pipes for disposal of sewerage and 1,400-km city road network among others. The city will soon call its own an International airport at Mohali to be connected to the city airport, New Chandigarh counter magnet city with townships from Omaxe, DLF and Innovative Housing & Infrastructure Ltd, Entrepreneur Development Centre, as well as a proposed Film City.
Development of a place and the supplementary facilities it makes available are the primary features that draw more people to settle there. The advancements in a city automatically create more job opportunities consequentially attracting more residents. These five Indian cities are the top thriving places to invest in if you are looking to buy properties.
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