While Mumbai and Delhi are the favourite destination for the investment in the real estate segment, II-tier and III-tier citied are witnessing a great boom in the demand of organised residential property.
Besides Chandigarh, big developers have started housing projects in cities like Mohali, Ludhiana, Derabassi, and Amritsar in Punjab.
For instance, Ansal Properties has several residential projects in cities such as Jodhpur, Ajmer, Jaipur, Panipat, Kundli and Agra. Omaxe has also planned around 40 residential and integrated township projects in Tier-II and Tier-III cities, majority of them being in Uttar Pradesh, Punjab, Madhya Pradesh, Rajasthan and Haryana.
Godrej Group’s real estate company, Godrej Properties and Frontier Home Developers, plans to develop a residential project in Gurgaon. This would be the first residential project in the national capital region (NCR) for Godrej Properties.