Chennai real estate has lowest inventory of 40,000 unsold home units among other metro cities due to sudden spurt in the real estate prices, says a study by Jones Lang LaSalle, a global real estate firm. The study said that Chennai had 10 months of unsold inventory, the lowest, when compared with cities like Gurgaon (14 months), Hyderabad (12 months), Kolkata (12 months), Pune (14 months), Mumbai (34 months) and Bangalore (23 months).
As metro cities in India become unaffordable and good retail spaces are hard to come by there, domestic and international retailers are exploring opportunities in small towns for expansion, says a report by real estate consultancy firm Jone Lang LaSalle. Indore, Kochi, Ludhiana, Nagpur, Jaipur and Udaipur are the upcoming cities that retailers are considering with increasing seriousness, says JLL.
The aviation regulator has requested the Centre to speed up construction of new airport terminals and additional airports near metro cities, voicing concern about an anticipated rise in congestion and lack of infrastructure at major aerodromes.
While metro cities are struggling with issues like lack of space, over-population and housing development nearing saturation, it is the Tier-II cities that have emerged as the next focused investment destinations for real estate buyers in India.