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Top 10 Promising Cities in India for Property Investment in 2023-2024

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Promising Cities in India for Property Investment: Real estate investment is an obvious choice for every Indian household family. However, the pandemic crippled this industry late back in 2020. Post year 2020-21, the real estate industry has started to show promising shifts which is a gold phase for investment. This also includes the rental market.

Investing in Tier-I cities like Mumbai, Pune, and Bangalore is an apparent preference. However, the next age is approaching, and Tier-II cities can enhance your investment by up to 400%! They could also become the top cities to invest in real estate in India.

This post dives deeper into the research of the top 10 promising cities in India for property investment in 2023. For curating this post, I have studied numerous reports published by real estate experts, Central and State Governments, MNCs, private companies and individuals.

Chandigarh

Chandigarh serves as the Joint Capital of Haryana and Punjab, and while it is a district, it also functions as the Union Territory. Apart from developing itself, this city is also helping its neighbour cities to grow- Panchkula and Mohali. Thus, these three acts as “Development-TRIO.”

Do you Know?

People also know this city as the ‘City of Roundabouts’. This is due to the construction of splendid roundabouts every few metres on the road.

Reasons for Real Estate Investment in Chandigarh

Chandigarh is one of the fastest growing real estate cities in India. Below are some distinctive reasons-

top reasons for real estate investment in Chandigarh and promising cities in India for property investment
  1. Proposed Projects for the city include
    1. 32 km Greenfield Road Alignment Project that connects IT Chowk near the Chandigarh International Airport to the Kurali-Chandigarh Road. It will also serve as an alternative route between Delhi to Himachal Pradesh and J&K.
    2. Chandigarh Airport Expansion
    3. Chandigarh-Hoshiarpur-Gurdaspur Industrial Corridor and Chandigarh-Amritsar- Industrial Corridor.
  2. The under-construction projects include New Industrial Area located in Sector 101, Mohali. It is likely to be completed by the year 2022. Upon completion, it would boost I&L activity in the city.
  3. Key Corporates include Infosys, Tech Mahindra, Teleperformance and Concentrix.
  4. Leading Real Estate Spaces include DLF, Godrej Properties, Bestech Group, QuarkCity and Unity Group.
  5. 29th Rank in Ease of Living Index, 2020.1
  6. 86% Literacy Rate in 2011.2
  7. A consistent performer in Health and well-being and Education Quality in 2021.3
  8. Front Runner in Sustainability Parameters- Affordable and Clean Energy, Climate Action, Sustainable Consumption and Production Patterns, and Sustainable Cities and Communities in 2021.4
  9. Ranked 3rd in Sustainable Development Goals Urban Index, 2021.5
  10. High Number of Flex Players in 2022.6
  11. Top Performer in Decent Work & Economic Growth, Industry, Innovation and Infrastructure in 2021.7
  12. High Rating earned in CBREs Industrial rating in 2022.8
  13. Sushma Group, in February 2022, raised ₹100 Crore to fund its 10.8 – Acre residential project in Zikarpur.9
  14. Stellar Value Chain Solutions launched a 500,000 sq. ft. warehousing facility in Banur near Chandigarh in August 2021.10
  15. Ranked first in India Innovation Index 2021.11
  16. Private yet giant companies like Wooden Street, Birkenstock India and cargo-partner have opened their offices in 2021 and 2022 respectively.12

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Jaipur

Famously known as the Pink City of India, Jaipur is the capital of Rajasthan. It is gigantic forts, beautiful palaces and stunning colourful streets that can vividly catch any tourist.

Every fort, palace, street and market has its story to pry upon. Surrounded by Aravalli Hills, it has the potential to become a topper in real estate investment in India in 2023.

Do you Know?

Jaipur holds the World’s largest literary festival- ‘Jaipur International Festival’ every year during January and February.

Reasons for Real Estate Investment in Jaipur

It is one of the top promising cities in India for property investment. Below are some reasons for investing in the Jaipur property-

top reasons for real estate investment in Jaipur and promising cities in India for property investment
  1. Proposed Projects for the city- Ring Road Project – III, Metro Phase II, and Suburban Transport System.
  2. Delhi-Mumbai Industrial Corridor (via Jaipur) is under construction. It can attract foreign and domestic investments upon completion in Jaipur.
  3. Key Corporates include Infosys, Wipro, Accenture, Genpact and Teleperformance.
  4. Leading Real Estate Spaces include Mahindra World City SEZ, World Trade Park, Vaibhav Global SEZ, Infosys BPO-LEED, WTP Mall, and Triton Mall.
  5. Prominent Developers include Upasana Group, Mahindra Lifespaces, Mahima Group, Mangalam Group, Supertech and FS Realty.
  6. Front Runner in both Health & Well Being and Education Quality in 2021.13
  7. High Number of Flex Players in 2022.14
  8. Consistent Performer in Decent Work & Economic Growth in 2021.15
  9. Front Runner in Affordable and Clean Energy & Sustainable Consumption and Production Patterns in 2021.16
  10. Front Runner and scored 61 on State Energy Index, 2020.17
  11. 36th Rank in Sustainable Development Goals Urban Index in 2021.18
  12. Bagged 12th Rank in India Innovation Index in 2021.19
  13. Key Events in 2022 for Jaipur20 that has made it one of the most promising cities in India for property investment are-
    1. Wipro Infrastructure Engineering declared plans to invest ₹200 Crore and set up a manufacturing plant for hydraulic cylinders and allied products.
    2. Bluestone.com launched a jewellery manufacturing unit in the city with the capacity to process 250kg of gold/per month.
    3. HOP Electric Mobility inaugurated its megaplex units with a production capacity of 100 e-scooters per day.
    4. AGS Health opened its new office in the city to attract local talent.
    5. PwC opened its new office in the city intending to create 10,000 new jobs.

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Lucknow

The capital and largest city of Uttar Pradesh, Lucknow has been a power player in the real estate industry. Known for architecture, manners, cuisines, beautiful gardens and much more, the city holds much on its own. It is also home to Asia’s biggest park- Janeshwar Mishra Park. It is one of the top promising Cities in India for property investment.

Do you Know?

Lucknow is the first-ever city to fully revolutionise the CCTV protection system.

Reasons for Real Estate Investment in Lucknow

Lucknow is one of the best places to invest in India. Below are some insightful reasons-

top reasons for real estate investment in Lucknow and promising cities in India for property investment
  1. The Outer Ring Road which aims to connect the city through a 104 km road is under construction and supposed to be finalized by the end of 2024.
  2. Proposed Projects include Lucknow Metro Rail Expansion- East-West Corridor; and Industrial Corridors- UP Defence Industrial Corridor and Kanpur-Lucknow Industrial Corridor.
  3. Key Corporates include TCS, HCL, Aegis, Nexgen Academy, and Bharti Airtel.
  4. Prominent Developers include Omaxe, Eldeco Group, Shalimar Group, Levana Group, and Ansal API.
  5. CBREs Cost of living is moderate which implies that for Middle-Class families, this city proves great.21
  6. Consistent Performer in Health and Well Being & Education Quality in 2021.22
  7. 26th Rank in Ease of Living Index, 2020.23
  8. 83% Literacy as per the Census of 2011.24
  9. High Number of Flex Players in 2022.25
  10. Front Runner in Affordable and Clean Energy, Sustainable Consumption & Production Patterns; and Sustainable Cities and Communities in 2021.26
  11. 36th Rank in Sustainable Development Goals Urban Index in 2021.27
  12. Bagged 7th Rank in India Innovation Index in 2021.28
  13. Key Events in 2022 for Lucknow29 that has made it one of the most promising cities in India for property investment are-
    1. Berger Paints declared plans to invest ₹1,000 Crore and operationalize a fully automated manufacturing plant near the city.
    2. The State Government permitted a proposal for a Mega Textile Park across 1,000 acres in Malihabad, Lucknow. It also approved proposals to invest ₹15,950 Crore and set up 4 Data centre parks in the city.
    3. Lulu Group opened its first mall in North India in the city. Similarly, Uniqlo and Pyramid Consulting also opened their new stores in the city.

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Ahmedabad

Ahmedabad is the most populated and largest city in Gujarat. The city is a prominent trading and manufacturing hub in Western India. Both domestic and foreign investors are attracted due to the city’s excellent infrastructure and favourable policy environment.

Due to its political influence, it is on the verge of becoming the best place to invest in property in India.

Do you Know?

The world’s largest stadium resides in Ahmedabad. Commonly known as the Motera Stadium, Narendra Modi Stadium holds a seating capacity of 1,32,000 spectators.

Reasons for Real Estate Investment in Ahmedabad

It is one of the top promising cities in India for property investment. Below are some reasons for investing in the Ahmedabad property-

top reasons for real estate investment in Ahmedabad and promising cities in India for property investment
  1. Planned Project for the city includes Dholera International Airport in Navagam which would be spread over 185 acres with offices, retail developments and cargo handling facilities. This Airport is expected to be completed by 2025-2026.
  2. Under-Construction projects include-
    1. 500 km Ahmedabad to Mumbai High-Speed Rail Line (MAHSR). The first phase is expected to be completed by the year 2028.
    2. 39 km Ahmedabad Metro Rail Phase-I connecting 39 stations which would be completed by 2023.
    3. Gift City (Phase II and III) spread across 886 acres. This project is the country’s first notified International Financial Services Centre with incentives like capital gains tax, GST exemption for occupiers and corporate tax.
    4. Delhi to Mumbai Industrial Corridor in the Dholera Special Investment Region is expected to attract investments both domestically and globally.
  3. Key Corporates include Adani Group, Vodafone and two large global EFSI Firms.
  4. Prominent Developers include K Raheja Group, L&T Realty, Lansum Properties, Navaratna Estates and Navayuga Developers.
  5. CBREs Cost of living is moderate which implies that for Middle-Class families, this city proves great.30
  6. Consistent Performer in Health and Well-Being in 2021.31
  7. Front Runner in Education Quality, Affordable and Clean Energy, Industry, Innovation and Infrastructure and Sustainable Cities and Communities in 2021.32
  8. Power Achiever in Sustainable Consumption and Production Patterns in 2021.33
  9. The number of Flex Players and CBREs Industrial rating is High.34
  10. 3rd Rank in Ease of Living Index, 2020.35
  11. 88% Literacy as per the Census of 2011.36
  12. 9th Rank in Sustainable Development Goals Urban Index in 2021.37
  13. 14th Rank in India Innovation Index in 2021.38
  14. Key Events in 2022 for Ahmedabad39 that has made it one of the most promising cities in India for property investment are-
    1. Phoenix Mills announced its plans to expand its mall portfolio by setting up a new Phoenix Palladium Mall before the end of the year. Lulu Group also announced its plans to open its mall in the city.
    2. Analytix Solutions opened its new office in the city with a two-shift office employing 1,200 employees in total.
    3. India International Bullion Exchange was launched in July 2022 in GIFT City.
    4. Several Global banks have set up their IFSC Banking Units in GIFT City.

Indore

The largest and most populated city in Madhya Pradesh, Indore is a key educational hub as it holds the finest national colleges. It was part of the first twenty-five cities to be developed by Central Government’s smart city mission.

Indore is one of the fewest cities that can enlist itself in the top 10 real estate cities in India.

Do you Know?

Indore is the cleanest city in entire India. It also houses the biggest colony in Asia- Sudama Nagar.

Reasons for Real Estate Investment in Indore

Indore is one of the fastest growing real estate cities in India. Here are some reasons why-

top reasons for real estate investment in Indore and promising cities in India for property investment
  1. The proposed Project for the city includes the 18 km Indore to Pithampur Economic Corridor. The area on either side of this corridor is planned to be developed as an ‘Investment region’ for retail outlets, office spaces, green industries, hotels and DCs.
  2. Under construction project includes the Indore Metro Rail Project Phase-I spread across 33.5 km and covering 30 stations.
  3. Key Corporates include Infosys, TCS, Teleperformance, Accenture and Rakuten Group.
  4. Prominent Developers include Brilliant Estates, Princes Buildtech, C21 Group, Apollo Creations and NRK Group.
  5. CBREs Cost of living is high which implies that it will attract investments from high-class families.40
  6. A consistent performer in Health and Well-Being, Education Quality, Decent Work and Economic Growth; Industry, Innovation and Infrastructure in 2021.41
  7. Front Runner in Climate Action, Affordable & Clean Energy, Sustainable Consumption and Production patterns; Sustainable Cities and Communities in 2021.42
  8. 9th Rank in Ease of Living Index, 2020.43
  9. 86% Literacy as per the Census of 2011.44
  10. 26th Rank in Sustainable Development Goals Urban Index in 2021.45
  11. 13th Rank in India Innovation Index in 2021.46
  12. Key Events in 2022 for Indore- 47 that has made it one of the most promising cities in India for property investment are-
    1. Phoenix Mills announced its plans to expand its mall portfolio by setting up a new Phoenix Citadel Mall before the end of the year.
    2. Omaxe Ltd. raised ₹440 Crore from Varde Partners to accelerate the construction of its ongoing projects across different cities including Indore.
    3. Pinnacle declared plans to invest ₹2,000 Crores and launch EV manufacturing plants in Indore and Pune.
    4. Accenture opened its new office in the city in June 2022.
    5. Aditya Birla Fashion’s TASVA launched its maiden brand outlet in the city.

Coimbatore

Surrounded by hill stations, Coimbatore is the second-largest city in Tamil Nadu. Also known as Kovai, it is the 16th largest urban agglomeration in India. * (Coimbatore City Municipal Corporation Website, Government of Tamil Nadu). Due to the abundant presence of cotton and textile industries in the city, people also call it as ‘Manchester of South India’.

Do you Know?

Coimbatore is also called the ‘Pump City of India’ because it supplies the country’s half requirement of motors and pumps.

Reasons for Real Estate Investment in Coimbatore

It is one of the top promising cities in India for property investment. Below are some reasons for investing in the Coimbatore property-

top reasons for real estate investment in Coimbatore and promising cities in India for property investment
  1. Proposed Projects for the city-
    1. Coimbatore Metro Rail Line Phase 1, 2 and 3. The completion estimate of Phase 1 is 2027. The city’s most aspiring project will lay out 139 km of the rail line. Phase 1 will connect Valiyampalayam and Vellore to PSG Factory. Phase 2 will link Coimbatore Railway Junction to Periyanaickenpalayam. Phase 3 will connect PSG Factory to Ganesapuram, Pappampatti, Carltonpet, Periyanaickenpalayam to Bilichi and Town Hall to Karunya Nagar.
    2. 32.4 km long Western Ring Road which is a four-lane road.
    3. Defence Industrial Corridor and Kochi-Bangalore Industrial Corridor.
  2. Key Corporates include Wipro, CTS, Robert Bosch, Toppan Merrill Cameron, Schlumberger and Ford.
  3. Prominent Developers include Rathinam Group, IndiaLand, TIDEL, Hanudev Infopark, Bannari Amman, and KCT Group.
  4. CBREs Cost of living is moderate which implies that for Middle-Class families, this city proves great.48
  5. Front Runner in Health and Well Being, Education Quality; Industry, Innovation and Infrastructure in 2021.49
  6. Front Runner in Sustainability Parameters like Affordable and Clean Energy, Climate Action, Sustainable Consumption Production Patterns, and Sustainable Cities and Communities in 2021.50
  7. 7th Rank in Ease of Living Index, 2020.51
  8. 91% Literacy as per the Census of 2011.52
  9. CBREs Industrial rating is High in 2022.53
  10. Air Quality Index of City is Good in 2022.54
  11. 2nd Rank in Sustainable Development Goals Urban Index in 2021.55
  12. Achieved 5th Rank in India Innovation Index in 2021.56
  13. Key incidents in 2022 for Coimbatore57 that has made it one of the most promising cities in India for property investment are-
    1. Major giants like Accenture opened their new Advanced Centre in the city. Infosys and Deloitte also announced their plans to expand offices and operations.
    2. Tata Group and the Tamil Nadu Government declared their plans to set up a semiconductor chip plant in the city.
    3. Lulu Group International announced its plan to start the first hypermarket in the city.

Kochi

Also called Cochin, Kochi is a port situated on the southwestern Indian coast in the State of Kerela. It includes the area of Mattancherry, Fort Kochi, the suburbs in the northeast (Kalamassery, Kakkanad and Edappally), Tripunithura, in the southeast and mainland Ernakulam.

Do you Know?

Kochi is a key commercial destination and is the second-largest urban agglomeration.

Reasons for Real Estate Investment in Kochi

Kochi is one of the few places for the next-age best real estate investment in India. Here are some reasons why you should think about investing in the Kochi property-

top reasons for real estate investment in Kochi and promising cities in India for property investment
  1. Proposed Projects include the 11.2 km rail line Kochi Metro Rail Phase II, Vytilla Mobility hub and Kochi-Bangalore Industrial Corridor.
  2. The Kochi Water Metro is under construction and would be completed by 2022. It is the first of its kind project in India and will connect Vytilla, Thykoodam and Kumbalam through 15 routes.
  3. Key Corporates residing in the city include Wipro, CTS, TCS, Sutherland and Infosys.
  4. Prominent Developers include Brigade Group, Lulu Group, Prestige Group, Carnival Realty, Trans Asia Group, and Caspian Group.
  5. CBREs Cost of living is moderate which implies that for Middle-Class families, this city proves great.58
  6. Low Crime Rate as per NCRB in 2021.59
  7. Front Runner in Health and Well Being, Education Quality, and Affordable and Clean Energy in 2021.60
  8. 39th Rank in Ease of Living Index, 2020.61
  9. 97% Literacy as per the Census of 2011.62
  10. Top achiever in Climate Action in 2021 and consistent performer in Sustainable Cities and Communities in 2021.63
  11. Air Quality Index of City is Good in 2022.64
  12. 5th Rank in Sustainable Development Goals Urban Index in 2021.65
  13. 8th Rank in India Innovation Index in 2021.66
  14. Key Events in 2022 for Kochi67 that has made it one of the most promising cities in India for property investment are-
    1. KINFRA announced plans to set up a petrochemical industrial park at Ambalamugal worth ₹1,200 Crore. This can create 11,000 jobs in the city.
    2. Cochin Shipyard declared plans to invest capital of ₹50 Crore in setting up maritime start-ups in the city.
    3. Kloudpad announced plans to invest ₹750 Crore in setting up the city’s largest Centre for automated business processes.

Thiruvananthapuram

Also called Trivandrum, Thiruvananthapuram is the capital and the most densely populated city of Kerala. The city is a major centre of ayurvedic research and is famous for its educational institutions, IT Firms, mineral-based industrial and commerce and tourism.

Do you Know?

Thiruvananthapuram is also known as ‘The Evergreen City of India’.

Reasons for Real Estate Investment in Thiruvananthapuram

It is one of the top promising cities in India for property investment. Below are some reasons for investing in the Thiruvananthapuram property-

top reasons for real estate investment in Thiruvananthapuram and promising cities in India for property investment
  1. Proposed Projects include a 21.8 km rail line Light Metro Rail Phase-I and Thiruvananthapuram-Tirunelveli Industrial Corridor.
  2. Under-Construction projects include-
    1. Vizhinjam International Trans-shipment Deepwater Multipurpose Seaport which is likely to be completed by the year 2024.
    2. A 529.5 km Silverline (Semi High-Speed Rail) rail line connecting 11 stations from Thiruvananthapuram to Kasaragod is likely to be completed by the year 2025.
  3. Key Corporates include Accenture, Tech Mahindra, UST, TCS, Allianz Group, Oracle and Tata Elxsi.
  4. Prominent Developers include Brigade Group, Embassy Group, Carnival Realty, SFS Homes, and Taurus Investment Holdings.
  5. CBREs Cost of living is high which implies that the city would attract high-class families for power investment.68
  6. Low Crime Rate as per NCRB in 2021.69
  7. Front Runner in Health and Well Being, Education Quality, Affordable and Clean Energy, and Sustainable Consumption and Production Patterns in 2021.70
  8. 21st Rank in Ease of Living Index, 2020.71
  9. 95% Literacy as per the Census of 2011.72
  10. Top achiever in Climate Action in 2021 and consistent performer in Sustainable Cities and Communities and Industry, Innovation and Infrastructure in 2021.73
  11. Air Quality Index of City is Good in 2022.74
  12. 3rd Rank in Sustainable Development Goals Urban Index in 2021.75
  13. 8th Rank in India Innovation Index in 2021.76
  14. Key Events in 2022 for Thiruvananthapuram77 that has made it one of the most promising cities in India for property investment are-
    1. Tata Elxsi signed an agreement in June 2022 to invest the capital of ₹75 Crore in KINFRA park in the city.
    2. Techvantage Systems opened its new office space in Accel Infinium in June 2022.
    3. Acsia Technologies leased 85,000 sq. ft. office space in Embassy Taurus TechZone in April 2022.
    4. Allianz Group leased 500,000 sq. ft. office space in Embassy Taurus TechZone I in January 2022.

Visakhapatnam

Also called Vizag, Visakhapatnam is a port located on the south-eastern coast of India. It is the largest city in Andhra Pradesh. is the capital and the largest populated city of Kerala. It is also a key commercial hub, and administrative centre and is well known for fishing and ship-building and heavy industries.

Do you Know?

The Visakhapatnam port is the only protected harbour on the south-eastern coast of India and is the headquarters of India’s Eastern Naval Command.

Reasons for Real Estate Investment in Visakhapatnam

This city has shown the capability to enlist itself in the top 10 real estate cities in India. Below are some reasons why you should think of investing in the Visakhapatnam property-

top reasons for real estate investment in Visakhapatnam and promising cities in India for property investment
  1. Proposed projects include an 80 km Visakhapatnam Light Metro Rail line connecting 31 stations in the city.
  2. Under-Construction projects include-
    1. 800 km Visakhapatnam to Chennai Industrial Corridor which is likely to be completed by the year 2023. This corridor would connect nine districts of Andhra Pradesh.
    2. 464 km six-lane Raipur to Visakhapatnam Economic Corridor which is likely to be completed by the year 2024. This corridor will pass from three States- Odisha, Chhattisgarh and Andhra Pradesh and will reduce the travel time between Rai to Visakhapatnam by 12 to 14 hours.
  3. Key Corporates include Wipro, Tech Mahindra, Concentrix, Conduent, WNS Global Services, and Cyient.
  4. Prominent Developers include L&T Realty, Lansum Properties, Navaratna Estates, Hema Abodes and Vinayagar Developers.
  5. CBREs Cost of living is moderate which implies that for Middle-Class families, this city proves great.78
  6. Front Runner in Health and Well Being, Education Quality, Affordable and Clean Energy, Climate Action, Sustainable Consumption, Industry, Innovation and Infrastructure and Production Patterns and Sustainable Cities and Communities in 2021.79
  7. Air Quality Index of City is Good in 2022.80
  8. 15th Rank in Ease of Living Index, 2020.81
  9. 82% Literacy as per the Census of 2011.82
  10. 18th Rank in Sustainable Development Goals Urban Index in 2021.83
  11. 9th Rank in India Innovation Index in 2021.84
  12. Key Events in 2022 for Visakhapatnam 85 that has made it one of the most promising cities in India for property investment are-
    1. Adani Enterprises invested ₹14,634 Crore in the city by forming a Special Purpose Vehicle- Vizag Tech Park to launch its first data park project.
    2. Nippon Steel India has announced to invest ₹1,000 Crore for expanding its Visakhapatnam pellet plant. This will increase the plant production capacity by 37%.
    3. K Raheja Corp signed a lease agreement with the city’s port authorities for ₹125 Crore. This agreement was signed for leasing 17 acres of land at Saligramapuram to set up a new mall in the city.
    4. Infosys announced its plans for setting up a campus in the city. This will enable the corporate giant to start its operations with a 1,000-seater facility and later expand to 3,000 seats.
    5. Randstad India announced plans for setting up a 150-seater office in the city.

Bhubaneshwar

Part of the Khorda district, Bhubaneshwar is the capital city of Odisha. It is home to unique cultural, heritage centres and handicraft industries. Over recent years, the city emerged as an IT and educational hub in eastern India.

Do you Know?

Bhubaneshwar is also known as the ‘Temple City of India’.

Reasons for Real Estate Investment in Bhubaneshwar

It is one of the top promising cities in India for property investment. Below are some reasons for investing in the Bhubaneshwar property-

top reasons for real estate investment in Bhubaneshwar and promising cities in India for property investment
  1. Proposed Projects include-
    1. Capital Region Ring Road Project which would be spread across 111.2 km and would connect Bhubaneshwar and Cuttack in lesser time.
    2. 600 km Odisha Economic Corridor which would be spread over 11 industrial clusters. It would support trade I&L activity along India’s eastern coastal region upon completion.
  2. Under-Construction projects include-
    1. City’s first planned Transit-oriented Development- Bhubaneshwar Town Centre project.
    2. Interstate Bus Terminal – Baramunda which is spread over 15.5. acres. It will act as the biggest bus terminal in the city and is likely to be completed by the year 2022.
  3. Key Corporates include Wipro, TCS, Infosys, Mindtree and Tech Mahindra.
  4. Prominent Developers include DLF, Metro Group, Utkal Builders and JSS Group.
  5. CBREs Cost of living is high which implies that it will attract investments from high-class families across India.86
  6. A consistent performer in Education Quality & Decent Work, and Economic Growth.87
  7. Front Runner in Health and Well Being, Climate Action, Sustainable Consumption and Production Patterns, and Industry, Innovation and Infrastructure in 2021.88
  8. Air Quality Index of City is Good in 2022.89
  9. 2nd Rank in Ease of Living Index, 2020.90
  10. 92% Literacy as per the Census of 2011.91
  11. 44th Rank in Sustainable Development Goals Urban Index in 2021.92
  12. 16th Rank in India Innovation Index in 2021.93
  13. Key Events in 2022 for Bhubaneshwar 94 that has made it one of the most promising cities in India for property investment are-
    1. The Gol chose the city for implementing the Next-Generation Incubation Scheme (NGIS) for assisting innovative enterprises and start-up ecosystems.
    2. Lulu Group signed a Memorandum of Understanding for investing ₹1,500 Crore in Odisha to set up shopping malls, hypermarkets and agricultural and seafood sourcing & processing hubs in Cuttack, Bhubaneshwar and Rourkela.
    3. PwC opened its new office in the city which would create 10,000 jobs.
    4. Deloitte declared its plans to expand its Tier-II Indian operations which include Bhubaneshwar city.
    5. BigBasket announced its plans to expand its operations in the city. In this attempt, it would its revenue from ₹1.6 Crore per month until Q1 2022 to ₹5 Crore per month by the end of 2022.

Conclusion and Summary

Tier-I cities are still the best, most obvious and preferable choice for real estate stakeholders. However, the initial costs and risks are also high in such cities. Investing in Tier II as discussed in the above post is still optional and a power risk that not everyone can afford.

In the above article, I discussed and analysed the top promising cities in India for property investment. Risking the real-estate investment discussed in the above article is an excellent choice for long-term investment seekers. This helps in both the enhancement of the real estate portfolio and insights.

Let us know your thoughts in the comments section. You can also contact our experts for visual insights and interaction.

References

  1. Ministry of Housing and Urban Affairs, 2020.
  2. Census 2011, GOI
  3. NITI Aayog, 2021
  4. Refer to Note No.3
  5. Refer to Note No.3
  6. CBRE Research Q4 2022
  7. Refer to Note No.3
  8. Refer to Note No.6
  9. Media Articles
  10. Refer to Note No. 9
  11. NITI Aayog India Innovation Index 2021
  12. Refer to Note No. 9
  13. Refer to Note No.3
  14. Refer to Note No.6
  15. Refer to Note No.3.
  16. Refer to Note No.3
  17. State Energy Efficiency Index 2020
  18. Refer to Note No.3
  19. Refer to Note No. 11
  20. Refer to Note No. 9
  21. Refer to Note No.6
  22. Refer to Note No.3
  23. Refer to Note No. 1
  24. Refer to Note No. 2
  25. Refer to Note No.6
  26. Refer to Note No.3
  27. Refer to Note No.3
  28. Refer to Note No. 11
  29. Refer to Note No. 9
  30. Refer to Note No.6
  31. Refer to Note No.3
  32. Refer to Note No.3.
  33. Refer to Note No.3.
  34. Refer to Note No.6
  35. Refer to Note No. 1
  36. Refer to Note No. 2
  37. Refer to Note No.3.
  38. Refer to Note No. 11
  39. Refer to Note No. 9
  40. Refer to Note No.6
  41. Refer to Note No.3.
  42. Refer to Note No.3.
  43. Refer to Note No. 1
  44. Refer to Note No. 2
  45. Refer to Note No.3
  46. Refer to Note No. 11
  47. Refer to Note No. 9
  48. Refer to Note No.6
  49. Refer to Note No.3
  50. Refer to Note No.3
  51. Refer to Note No. 1
  52. Refer to Note No. 2
  53. Refer to Note No.6
  54. Central Pollution Control Board in August 2022
  55. Refer to Note No.3
  56. Refer to Note No. 11
  57. Refer to Note No. 9
  58. Refer to Note No.6
  59. National Crime Records Bureau (NCRB), 2021
  60. Refer to Note No.3
  61. Refer to Note No. 1
  62. Refer to Note No. 2
  63. Refer to Note No.3
  64. Refer to Note No. 54
  65. Refer to Note No.3
  66. Refer to Note No. 11
  67. Refer to Note No. 9
  68. Refer to Note No.6
  69. Refer to Note No. 59
  70. Refer to Note No.3
  71. Refer to Note No. 1
  72. Refer to Note No. 2
  73. Refer to Note No.3
  74. Refer to Note No. 54
  75. Refer to Note No.3
  76. Refer to Note No. 11
  77. Refer to Note No. 9
  78. Refer to Note No.6
  79. Refer to Note No.3
  80. Refer to Note No. 54
  81. Refer to Note No. 1
  82. Refer to Note No. 2
  83. Refer to Note No.3
  84. Refer to Note No. 11
  85. Refer to Note No. 9
  86. Refer to Note No.6
  87. Refer to Note No.3
  88. Refer to Note No.3
  89. Refer to Note No. 54
  90. Refer to Note No. 1
  91. Refer to Note No. 2
  92. Refer to Note No.3
  93. Refer to Note No. 11
  94. Refer to Note No. 9

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