Realty Boom in Non-Metros: Top 3 reasons why NRIs are flocking to Tier-2 cities

financialexpress.com:

Tier-2 cities or non-metros are giving tough competition to top metro cities in the country in terms of infrastructure development, as a result attracting NRIs and resident Indians to invest.

These emerging cities on account of improved life standard, good educational and healthcare facilities, competitive cost of living and rapid economic growth potential score over their metro counterparts.

The significant industrial diversification in these cities is creating a demand for varied types of real estate developments, including industrial spaces, office buildings, residential units, and commercial complexes, according to experts.

This variety broadens the scope for real estate developers to introduce targeted projects that cater to the needs of each sector, from manufacturing facilities and warehouses to IT parks and housing complexes. As these industries continue to grow, the potential for substantial returns on investment in real estate in these regions increases correspondingly.

Also Read: Investing in real estate? Here’s why non-metro cities are your golden ticket!

Mananki Parulekar, Co-Founder, Claravest Technologies, cites three main reasons why more and more NRIs and Indian residents are looking at investing in real estate in Tier-2 cities.

Parulekar also shared insights on sectors that are experiencing the most significant demand growth in these non-metros, opening a plethora of opportunities for real estate investors and developers in these regions.

According to her, Tier-2 cities are experiencing significant growth across a diverse range of industries, presenting numerous opportunities for real estate investors and developers. She named Kochi, Lucknow, Nagpur and Surat as top Tier-2 cities, with each one of