Developers Target Industrial Areas of Tier 2 & 3 Cities

Published: September 4, 2009
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The demand fundamentals of India are now focused around cities that have sufficient economic activity, be it industrial, service sector-driven or incentive-driven programs by the State Government. In Gujarat, which has seen considerable industrial progress, cities of Ahmedabad, Surat and Vadodara come readily to mind.

Baddi in Himachal Pradesh and Pantnagar and Rudrapur in Uttaranchal attracted a lot of residential developers, thanks to government policies. In the South, Coimbatore, Vizag and Kochi emerged, either thanks to a large investor segment or as the outcome of sufficient economic activity. Towards the West, Pune, Nasik and Nagpur are noteworthy in this context.

In all cases, developers positioned their development close to industrial hubs, targeting a totally different price segment. While this was a worthy ambition , it was poorly conceived as a plan since many of them did not factor in State Government-level regulatory challenges such as local municipal laws.

Source: Indian Realty News


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