The winds of change are blowing through the Indian real estate sector, with Tier 2 cities emerging as the new growth engines. Fuelled by a growing population, rapid urbanization, and improved infrastructure, these cities are attracting not only residents but also developers eager to tap into their immense potential.
Tier 2 cities, with their lower cost of living, better work-life balance, and affordability compared to metros are positioned to lead the transformation towards a ‘Viksit Bharat’ by 2047. Recognizing this potential, developers are strategically expanding their footprints, making 2024 a landmark year for the sector. Budgetary provisions aimed at promoting urban infrastructure development in these cities further bolster the prospects for real estate growth.
