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Money Control: 5 Major Factors Driving Real Estate Growth in Tier II and Tier III Cities

News credits Money Control, Sandeep Batra

Scarcity of land resources, high land and construction-related costs, unaffordable property prices, high inventory levels and declining demand are forcing developers and investors to shift their focus towards Tier II and III cities

RERA has led to the realization that the industry will be driven by end-users and investors will have a limited role to play. Consumers in tier II and III cities are currently underserved by industry and these cities have a lot of latent demand for quality real estate at affordable rates. Going forward, as RERA becomes an integral part of planning, developers will turn towards end users and shift their focus to these cities.