You are here: Home » Current Affairs » News » National
Business Standard

Hyderabad, Bengaluru top short-term growth cities ranking: JLL report

Chennai (14th) and Mumbai (20th) completed India's stellar show on the annual rankings

Press Trust of India  |  New Delhi 

real estate
Representative image

and are at the top two positions in a list of 30 global short-term growth cities, according to

Indian cities dominated the 'short term momentum ranking' in JLL's latest annual global report City Momentum Index' (CMI) 2018.

Pune has been ranked at fourth, followed by Kolkata (5th) and (8th) in the top 10 cities out of the 30 top global short-term growth cities.

"Chennai (14th) and (20th) completed India's stellar show on the annual rankings," said in the report.

said it's CMI's short-term momentum rankings identify urban economies and markets which are currently undergoing the most rapid growth.

Indian cities performed extremely well on key parameters of human resource, connectivity, investments, property prices, economic output, corporate activities, construction and

"maintained it's pre-eminence in the Short-Term Momentum rankings as these cities registered among the highest rates of demographic and economic growth globally, while also benefiting from government efforts to boost business attractiveness and invest in infrastructure," the report said.

While Indian cities have performed exceedingly well in the short-term momentum index, it will be a delight to see them become long-term investment destinations in the future, JLL said.

While is propelling India's cities forward, said that many of these cities also face challenges like strains on infrastructure and local amenities, high levels of economic disparity and affordability issues and environmental degradation.

In order to maintain their growth over the longer term, these cities will need to focus on future-proofing their markets through improved liveability and affordability, regulatory transparency and

"The need to take into account a city's future-proofing capabilities is increasingly recognised by investors, developers and corporations. For investors, it is imperative to comprehend which cities will be able to gain from transformations for long-term value preservation and growth," Nair said.

and Bengaluru, have been leading India's prowess in the global IT/ ITeS and BPM domain.

remains the largest Grade A office market in terms of leasing activities. Apart from being a major outsourcing location for multinational corporations, it is also home to research and development facilities for a growing number of global companies.

However, in recent quarters, has picked pace on account of favourable government policies that have had positive impact on the office market in the city.

Global brands like Deloitte, and Microsoft, to name a few, have established themselves in the market.

Another trend seen in the report was the relatively lower positions of tier 1 markets of and which were at position 8th and 20th respectively.

However, JLL said and are stable markets, with great investment and growth potential.

"Despite concerns on parameters like sustainability, ecological and infrastructural development etc, these locations, on account of their size, demand and rental and capital values, may be one of the firsts to move towards the long-term investment quadrant in the future," the report said.

First Published: Sun, April 01 2018. 19:20 IST