In view of the smart city tag, many real estate builders have shifted to Tier-2 and 3 cities, where more and more private equity (PE) investors have been turning their focus. As per ANAROCK's latest PE report - Private Equity in Indian Real Estate - between 2015-2018, nearly $1.37-bn was injected in markets across smaller cities such as Bhubaneshwar, Chandigarh, Ahmedabad, Mohali, Indore and Amritsar. Chairman of ANAROCK Property Consultants, Anuj Puri, said that in the initial leg of the current government-driven mission, the 'Smart City' tag allotted to several smaller towns and cities has opened up opportunities in the real estate markets, with housing sales seeing some traction even during the lull period. As per the report, Lucknow saw overall housing sales rise by 19 percent in 2018 against the previous year as the ongoing infrastructure developments including Metro deployment increased connectivity to the national capital via Agra Expressway. Huge employment-driven inward migration from nearby smaller towns and villages has also boosted Lucknow's housing market considerably.
📅Published on:
31 May 2019
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