Tier III Cities Emerge As Next Promising Investment Option

With the property market tumbling in big cities like Bangalore, realtors are now shifting their focus to tier III towns. A total of 47,000 properties were registered in Shimoga during 2007-08 as against 33,000 in 2006-07. In Davangere, the corresponding numbers were 54,000 and 37,000, similarly with Gulbarga, Hassan, Tumkur, Bagalkot, Mandya and other tier-III towns. This is when property transactions have ebbed in Bangalore and Mysore. The tier-III towns have never had it this good with the market prices of land having increased by two to three times. Two years ago, one square feet of land in Vinobanagar in Shimoga used to cost Rs 250 to Rs 300. Now it is around Rs 1,000. In Bellary, a square feet of land in a decent locality now costs Rs 1,200 up from Rs 300 to Rs 400 two years ago, officials said. With such a hike in the prices, boom is likely to shift from cities to these towns.

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One Comment

  1. riathareja
    Posted September 30, 2008 at 1:53 am | Permalink

    With the coming of a Rs 5,000-crore hi-tech city project, Kochi will soon attain a global city status. Bangalore-based Sobha Developers have signed an MoU with the state government for developing this hi-tech city. Sobha Hi-Tech City will be an integrated city with focus on research and development, knowledge dissemination, information technology and pure and applied sciences. The city is located close to the National Highway 47 bypass near Maradu in Kochi. It will have seven million sq. ft. of knowledge park, commercial space to provide business-friendly ambience, hospitality and leisure projects, entertainment and amusement facilities, a marina and residential complexes. The project will be completed in eight years and would generate 75,000 direct jobs.For more view- realtydigest.blogspot.com

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