With rentals skyrocketing in metropolitan cities, Tier II and Tier III cities have been in demand for retail and real estate investments. Some of the top emerging retail destinations in India are:
Jaipur: A sound local economy, growing purchasing power of residents and proximity to Delhi make Jaipur a sought-after retail destination. Some top real estate companies have launched large retail and housing projects in the city.
Ahmedabad: Stability and high purchasing power make Ahmedabad a potential luxury market. The presence of a number of industries in Gujarat makes it a good hub from a logistics point of view.
Coimbatore: The city’s status as a promising IT and biotech destination attracts youngsters from nearby towns and cities.
A skilled work force, fast infrastructure development and high literacy rate make it an important retail and real estate destination.
Ludhiana: The city has high spending potential. It is known for its largest non-resident Indian population in the country and this creates the potential for retail of branded goods.