17 Indian Cities Identified As Emerging Hot Spots For Real Estate: Report
NDTV
In its report Colliers has identified over 100 such emerging cities to determine their real estate demand and growth potential over next 5-6 years.
Emerging cities will play a key role in India's march towards becoming the world's third largest economy. In its latest report "Equitable Growth and Emerging Real Estate Hotspots", Colliers says factors such as infrastructure development, digitization, tourism and changes in the office landscape will drive the next wave of urban growth.
By 2050, India is expected to have nearly 100 cities with populations exceeding one million, in addition to its eight mega-cities. In its report Colliers has identified over 100 such emerging cities to determine their real estate demand and growth potential over next 5-6 years.
The report says real estate sector in India is going through a transformation with smaller towns becoming vital to the economy, because of infrastructure, affordable houses, skilled labour and government support. The sector could reach USD 1 trillion by 2030 and potentially USD 5 trillion by 2050, contributing 14-16 per cent to India's GDP.
