Real estate sector worth Rs 83 lakh crore by 2030

The new real estate hot spots in the country are going to be the smaller tier two and tier three cities. According to the report of real estate consultancy firm Colliers, there is a possibility of tremendous growth in the real estate sector in 17 cities like Jaipur, Indore, Amritsar. The real estate sector will grow in these cities due to religious tourism, infrastructure development along with many other reasons.

By 2030, the real estate sector of the country will be worth Rs 83.44 lakh crore, which will increase to Rs 417.2 lakh crore by 2050. According to Vimal Nadar, senior director of Colliers, the reason for growth in small cities is also the establishment of satellite offices of big companies here and adoption of hybrid work model. The report was prepared like this: First 100 emerging cities of the country were included. Then 30 cities were selected and 17 were shortlisted.

These 17 cities where real estate will increase

Answer: Amritsar, Jaipur, Ayodhya, Kanpur, Lucknow and Varanasi Why: Development of infrastructure, increase in economic activities.

South: Coimbatore, Kochi, Tirupati and Visakhapatnam Why: Residential and commercial development, strong local economy.

Previous: Patna and Puri Why: Emerged as growth centres, developing infra.

West: Dwarka, Nagpur,

Why Shirdi and Surat: Rapid expansion of infrastructure, strong industrial growth too.

Middle: Why Indore: Infrastructure, transport connectivity.

4 big reasons, religious tourism is most important

  1. Religious tourism: After the revival of religious places in cities like Ayodhya, Puri, Varanasi, Shirdi and Tirupati, the annual movement of tourists has increased.
  2. Digital Access: All 17 cities have a better communication system for digital connectivity.
  3. Infrastructure: Better roads, flagship trains, new airports and rapid development of hotel industry.
  4. Government Policies: Programs and other schemes of the Central and respective State Governments. National Infrastructure Pipeline (NIP) and PM Gatishakti Project.

Source- Dainik Bhaskar

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