Tier-II cities emerge as growth drivers for residential realty

06 Sep 2022 CW Team

Ahmedabad, Vadodara, Nashik, Gandhinagar and Jaipur have taken the top five places among Tier-II cities in growth of the residential property market on the back of rapid urbanisation, industrialisation and growth of IT industry, according to a report by PropEquity.

The report, titled ‘Tier-II: Residential Overview’, states that there has been a remarkable jump in both absorption as well as supply of quality residential properties in various price brackets in these cities. The report has tracked performance of the residential segment of the real estate sector in various Tier-II cities from FY 2017-18 to FY 2021-22.

“The real estate activity in Tier II cities is fast catching up with that of Tier I cities. Interestingly, Ahmedabad’s residential real estate market size of Rs 833.90 billion has outshone some of the Tier 1 cities like Chennai and Kolkata with market sizes of Rs 525.54 billion and Rs 38440 billion respectively, at the end of fiscal year 2021-22. Although it is also interesting to observe that the market share of Tier-I cities is about 4x times the share of Tier-II cities in the last five fiscal years,” said Samir Jasuja, founder and managing director of PropEquity.

“Post Covid lockdowns, Tier 2 cities have been witnessing new job creation at a decent rate and many tech and other sector companies are encouraging work from home for their employees for at least the next couple of years. This has led to scenarios where Tier 2 city housing projects are getting great traction due to their attractive pricing and potential for a higher upside in terms of investments,” said Abhishiekh Andlay, founder, Andlay Estates.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..