Top 10 Tier-II Cities to Seek for Investing in 2016

BENGALURU: Over the past 10-15 years, the country has witnessed immense changes across the cities on the back of high economic growth, developments in infrastructure and evolution of the services sector. Continuing further development in metros, the upcoming phase is solely for the boost advancement of tier II cities with a considerable leap in their economic status.

While most of these cities miss the master plans for all round growth and development, they will be in the forefront of the upcoming projects in the shortlisted cities and the cities will soon be seen playing vital role in the country’s growth and progress.

Here we have jot down top 10 Tier-II cities that one might consider to invest in property, for the year 2016: (approx. population)

Surat, Population - 44.66 lakh

Existing infrastructure: Host to ONGC, Ambuja, GAIL, UltraTech, NTPC-KGPP Power Plant, L&T, Essar, Reliance Petroleum, Cairn India, and several IT firms.

Proposed and ongoing projects: Bullet train Mumbai-Ahmedabad with a halt in Surat, reconstruction of railway station (PPP model), 4-lane highway between Savli-Dakor, Surat-Olpad-Bardoli, Vadodara-Dabhoi. Rs 90,000-crore plan for Mumbai-Surat tunnel road and modular construction of cargo terminal, cable-stayed bridge joining Adajan - Athwalines in Surat.

Nagpur, Population - 25 lakh

Existing infrastructure: While firms like Mahindra & Mahindra, Electrolux, and Indo-Rama have been in operation for long, companies such as DLF, Satyam, Mantri, Sahara, Shapoorji Pallonji, Raheja, have gained huge tracts of land to build bigger townships.

Proposed and ongoing projects: Nagpur Metro, Nagpur-Bilaspur and Nagpur-Secunderabad high-speed train, 10-lane flyover (also under-bridge) in Pardi worth Rs 300 crore being, dry port near Mihan, multi-modal international hub airport. Investment Zone and National Manufacturing will be developed and first IIM in the state is to be established.

Lucknow, Population - 28.1 lakh

Existing infrastructure: 25 acre IT park on Kanpur road, IIM Lucknow establishment, and Amausi International Airport.

Proposed and ongoing projects: Agra to Lucknow access-controlled expressway (greenfield) project, Lucknow Metro Rail, Jhansi-Gorakhpur-Lucknow-Kanpur-Kushinagar and Lucknow-Barabanki-Nanpara Link Express highway. IT city—project at Lucknow-Sultanpur highway. Augment by the L&T power supply network, city’s transportation infrastructure business to be constructed with six-lane access controlled expressways from Unnao to Lucknow.

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