Source: Money Control ( https://bit.ly/46BnFgv )

A report by Cushman and Wakefield, a real estate consultant and apex body of real estate developers Confederation of Real Estate Developers’ Associations of India (CREDAI).

As India continues its journey of economic growth and witnesses higher rate of urbanization, we anticipate newer cities to fuel the future growth of the commercial real estate market. We believe this report will prove to be invaluable not only for corporate occupiers exploring alternative locations beyond the top 8 real estate markets but will also provide insights to developers on the kind of opportunities that exist in their own domains,” said Boman R Irani, President CREDAI

Rising incomes and consumption levels have made tier-II cities a magnet for retail investments. As large Grade-A malls and prominent highstreets are getting developed, India’s tier-II cities are evolving into major consumption hubs, a trend that is likely to gain momentum in the coming years.

The residential sector has also witnessed significant growth in many of these cities and they perform well on affordability parameter, the report noted.

These effectively cover the set of parameters that corporate occupiers or retail brands would consider before deciding to enter a city. Besides, some of these parameters are also useful for migrants who are considering relocating to a city.