A report by Knight Frank and CII identifies 11 tier-2 and tier-3 cities in India as key future real estate growth engines by 2047.
Reader brief
Through the Reader lens: A new report from Knight Frank and CII highlights that India's real estate growth is expanding beyond major metros to tier-2 and tier-3 cities. These cities are projected to contribute 25-30% to India's total real estate output by 2047, driven by rising urbanization and infrastructure development. However, the report cautions that property price growth alone does not guarantee success, emphasizing the need for concurrent expansion in employment, consumption, and social infrastructure.
What to watch next
- Whether infrastructure development in these cities successfully attracts commercial investment and employment.
- The risk of property oversupply if construction outpaces economic and demographic growth.
- Long-term urban population growth trends in tier-2 and tier-3 regions versus major metros.
Sources1
All filed from IndiaNamed India · Bhopal · Bhubaneswar · Chandigarh · Coimbatore · Goa · Indore · Jaipur · Kochi · Lucknow · Nagpur · Visakhapatnam · Confederation of Indian Industry