Business

Lam Research Commits $1 Million to Battle Against COVID-19 in India

May 4, 2021

Funds will go to local charities and the Direct Relief organization to provide critical medical supplies and support BANGALORE, India...

By Raman Gupta, Director, GBP Group The stage is set for tier-II and tier-III cities to witness the idea of Integrated Townships, with the National Capital Region (NCR) being extended to include several more close-by towns in Haryana, Rajasthan, and Uttar Pradesh. The amount of real estate investment in tier II cities has increased over the last few years. By 2030, India is expected to have 104 Tier-II cities and just 155 Tier-I cities. The figure alone foreshadows the growth of Tier-II cities in the future. Finally, increased economic growth, infrastructure development, and the benefit of lower real estate prices and a lower cost of living are all driving up residential demand in these cities. People would want to enjoy the luxuries of modern living, such as plush markets, schools, hospitals, and entertainment facilities, all in one complex, particularly in the aftermath of COVID-19. These 'prime' cities are already attracting major developers from across the country. In the current scenario, the increase in demand for homes is leaning toward features that resolve health and safety issues; this is addressed in integrated townships by providing a controlled living environment to the residents. Reasonable land prices, a lack of organized living options, and the migration of working professionals, among other factors, could reignite demand in cities such as Chandigarh and Ludhiana. The acceleration in demand appears certain, with home loan interest rates at record lows and government subsidies for home buyers. Significant real estate projects are expected in towns and cities with populations of 0.5 to one million people. Residential markets in tier-II and tier-III cities have seen increased demand, which is expected to continue following the Corona scare. The availability of relatively cheaper real estate options is one reason for these cities' emergence as viable options. The rapidly expanding IT-ITES industry, entrenched in the major metros, is also moving towards Tier-II cities as rising real estate costs and overburdened infrastructure in Tier-I cities pose problems for IT-ITES companies. Today, well-known developers branch out outside their conventional holdings, and Tier-II cities provide them with the best opportunities. Townships allow developers to provide high-quality planned urban lifestyles at affordable prices. The success of Integrated Townships in these cities is because the majority of the colonies are poorly constructed or unregulated, resulting in hardships such as poor sewerage, insufficient electricity, and security concerns. In addition, the government's announcement that it will invest in infrastructure over the next five years was a blessing in disguise for Tier-II cities. The announcement addresses the most significant aspect of real estate: infrastructure growth, which contributes to a thriving real estate sector. The announcement allowed the long-standing question about the exodus of people from smaller cities to larger cities to be addressed. Due to the operating costs in larger cities, the development would result in job creation and the relocation of MNCs to these cities.

Tier II cities on Township radar

May 4, 2021

By Raman Gupta, Director, GBP Group The stage is set for tier-II and tier-III cities to witness the idea of Integrated...

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By Anil Pharande, Chairman - Pharande Spaces The second wave of COVID-19 is devastating - but this time, it has...

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Pilgrim Delivers Total Haircare Wellness With Its Jeju Hair Ritual Range

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Pilgrim, a 100% global vegan beauty brand's Jeju Hair Ritual Range, enables you to kiss days of dry and wave...

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Lorem ipsum dolor sit amet,sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, At vero eos...

Business

Lam Research Commits $1 Million to Battle Against COVID-19 in India

Tier II cities on Township radar

HomeFirst FY21 PAT crosses INR 100 Crs; up by 25.9% y-o-y, backed by strong disbursals

MerPerle Resorts and Hotels welcomed Celeb Ky Duyen and her friends to Hon Tam Island

JFS St. Louis Names Brian Braunstein as Board President

Mumbai witnesses over 10000 property registrations in April 2021

Airtel Payments Bank announces 6% p.a. interest on deposits over Rs. 1 lakh

Construction Workers – Reverse Migration 2021 Vs 2020

Pilgrim Delivers Total Haircare Wellness With Its Jeju Hair Ritual Range

Business booming for giant cargo planes

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