As India continues its remarkable journey of economic development and witnessing a higher rate of urbanisation, many newer cities apart from Delhi, Mumbai and Bengaluru are emerging to fuel the growth of the real estate market. With large shopping malls and excellent road networks being developed, India’s tier-II cities are evolving into major commercial hubs, a trend which is likely to gain momentum in the upcoming years.
On that note, check out some of the rising Tier II cities in India ideal for business and property investment.
Rising Indian Cities For Real Estate Investment
North India
Lucknow: Known for its rich cultural heritage, Lucknow is rapidly emerging as a business hub with its robust infrastructure and several development initiatives by the government. Homebuyers can find ample property options in Lucknow.
Jaipur: Jaipur, also known as the Pink City of India, is now becoming a hotspot for real estate investments in India. Recently, Jaipur has emerged as a major IT destination, with numerous IT projects underway in the city.
West India
Surat: Surat, situated on the banks of the Tapi River in Gujarat, is also emerging as a preferred destination for luxury living. The city’s real estate sector is expanding rapidly, offering various investment opportunities in commercial properties and industrial spaces.
Indore: Known as the commercial capital of Madhya Pradesh, Indore has been rated as the “Cleanest City of India” for four straight years. This city has enormous potential for future growth, as it offers a conducive environment for budding entrepreneurs, forward-thinking bureaucrats, supportive leaders, and investors to grow.
Nagpur: The ‘Orange City’ of Maharashtra, Nagpur is the third-largest city in the state despite being a tier 2 city of India. It is a major political and commercial centre of Maharashtra. With an international airport, excellent road connectivity, and metro services, Nagpur has emerged as one of the popular investment destinations for modern homebuyers.
East India
Bhubaneshwar: Popularly known as the Temple City of India, Bhubaneshwar is one of the thriving commercial hotspots in the country for trading and investing. The city reflects a remarkable combination of urban lifestyle and traditional heritage.
Vishakhapatnam: This city is popular for its import-export business, mineral extraction, and pharmaceuticals, making it a high potential region for real estate investments in the future. In the last few years, Vishakhapatnam witnessed robust infrastructural growth and has seen a major surge in the development of new real estate projects, providing plenty of property investment options.
South India
Kochi: Hailed as the ‘Queen of Arabian Sea’, Kochi is not only beautiful but is also well-known for its tourist attractions. Development and infrastructure make it an ideal place to have a second home. Considered among the best Tier 2 cities in India, Kochi has now emerged as a favourable investment destination for millennials by offering a wide range of commercial and residential properties.
Coimbatore: One of the biggest industrial and educational hubs in South India, Coimbatore provides a plethora of employment opportunities and affordable housing options to millennials. Moreover, the real estate sector is continuously evolving in Coimbatore with increased demand for industrial spaces, commercial complexes, and modern residential developments.
Trivandrum: Trivandrum or Thiruvananthapuram is one of the best Tier 2 cities of India to invest in. Owing to the rapid development and state-of-the-art infrastructure of this area, Trivandrum has become the fastest-growing city in Kerala. The city’s real estate landscape is thriving, driven by the growth of the IT industry, educational institutions, and healthcare sector.