Tier-II/III Cities Continue to Fuel Real Estate Growth

September 26, 2007	(Be the first to rate this story!)  Loading ...
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Of cities nominated for the emerging markets for real estate investment, Surat has topped the chart, says the data showcased by the FICCI- Ernst &Young, the India-US CEO Forum.

The city has been making rapid strides on the back of its residential property sector for the last couple of years. There is large residential development in the localities of Vesu and Damas.

The Gujarat Government has recently signed a Memorandum of Understanding worth 1.418 crore rupees with builders to develop integrated townships in Surat. According to the report, land prices in the city are also zooming upwards and appreciated by 30 to 50 percent over the past year.

Also, the study shows positive signs about the peripheral areas of Punjab such as Mohali and Panchkula.

Chandigarh has attracted a whopping investment of Rs 4,322 crore, which is likely to give another strong boost to the city real estate.

Close on the heels of these cities is Nagpur which is nowadays being regarded as another good bet for property investment. The city is a favourite among IT companies after Mumbai and Pune.

Other Indian cities joining the upcoming destinations for property investments are Vishakhpatnam, Vadodara, Jaipur, and Tiruvanthapuram, followed by Kochi, Nashik, Indore, and Ludhiana.

News Published Under:   Real Estate India |