The growth prospects are surging in Tier 2 cities due to a number of factors that include reverse migration, growth of industries, better connectivity and availability of land. In particular, the IT industry, e-commerce companies, metro projects and job opportunities are fueling the demand for real estate properties.
At this juncture, a number of commercial and residential realty projects are at different levels of construction in the Tier 2 cities like Gurugram, Meerut, Agra, Hisar, among others. Many leading real estate giants are changing the landscape of these cities after identifying the present and future hotspots of investment. Rajdarbar real estate, a renowned real estate player, is drawing a lot of traction by coming up with sustainable projects across the country. It was one of the few companies to identify and tap the potential of Tier 2 cities early in the piece.
A number of initiatives launched by the government are also shifting the focus to Tier 2 and Tier 3 cities. Many states are working to incentivize manufacturing in these regions, as a part of the ‘Make in India’ program. The Covid-19 pandemic has further changed the preferences of people as they are looking to move out from the densely populated cities. High-speed internet and cheap gadgets are bolstering this vision by making it possible to work from anywhere, at any time.
The realty costs in the smaller cities are also boosting the investment sentiment that thrives on spotting the right opportunity. The affordable, yet luxurious properties offered by developers like Rajdarbar Realty Group are paving the way for immense growth, especially after the rollout of Covid-19 vaccines.
With plenty of space available, along with the cheap cost of living and pollution-free environment, the perks of living in smaller cities easily outweigh the advantages of urban living. Thus, the stage is set for the investors and buyers to explore a new paradigm in the history of Indian real estate.
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