Indian cities with a population between 50,000 and 99,999 are called tier-2 cities, and unsurprisingly, seen as insignificant and dormant by many. However, the trend is slowly changing! With remote working gaining popularity, many investors are now considering properties in tier-2 cities.
So, it’s no wonder why many are now seeking work/living spaces and housing loan options in smaller cities. If you’re one of them, here are the top ten tier-2 cities you can consider.
1. Coimbatore
Coimbatore is the largest industrial city in Tamil Nadu and a well-established education hub teeming with job opportunities. Its robust infrastructure and civic amenities paired with affordable housing rates make it an attractive option.
2. Indore
Indore is also known as a mini-Mumbai, and we can see why! It offers all the opportunities of a tier-1 city like Mumbai without the chaos, traffic, and expenses. With a growing number of small businesses and corporate offices, Indore is the ideal location for property investment.
3. Vadodara
This affluent city offers luxury real-estate ventures within a competitive price range. Residential units are also available at affordable prices.
4. Visakhapatnam
Visakhapatnam or Vizag is a strategically located port connected to profitable markets in Southeast Asia and boasts an efficient transport system. In recent years, it has also made strides in the education sector. So, if you’re eyeing the coastal city, don’t think twice!
Apart from the lush cityscape, you can also benefit from the various tax benefits and other incentives introduced by the state government of Andhra Pradesh.
5. Trivandrum
Trivandrum is Kerala’s largest IT hub with an astounding population of salaried professionals. Apartments and villas are the most popular real estate investments in this city. Plus, you can easily qualify for a loan at competitive home loan interest rates to finance a property in God’s own country.
Additional Read: Why 2021 is the Best Time to Make a Real Estate Investment in Smart Cities?
6. Chandigarh
Chandigarh is undoubtedly India’s most well-planned city, making it one of the best options for real estate investment. A good network of road transport, efficient water supply and sewage system, a robust telecommunication system, and affordable housing are some reasons why Indians and NRIs alike prefer Chandigarh.
7. Lucknow
Lucknow attracts a large crowd of students and workers that seek accommodation to purchase or rent. It has become the first smart-city state capital to have a metro rail network and smooth road connectivity with New Delhi, making it a convenient location for property investment.
8. Kanpur
It is unfair not to mention Kanpur when talking about Lucknow. This old UP city is riding just behind Lucknow in terms of growth and development. Kanpur is well suited for small families who wish to avail a home loan to buy reasonable 2BHK and 3BHK facilities.
9. Nagpur
With rapid industrial growth, Nagpur is as sweet and ripe for investment as its famous Nagpur oranges. It is more convenient than tier-1 cities like Mumbai and Pune, whilst also offers all facilities like international connectivity, a metro rail network, and efficient road connectivity to Maharashtra and MP.
10. Dehradun
This city has emerged as one of the most livable cities in India in recent years. Nestled in the Doon Valley, it boasts a lush landscape and top-quality civic infrastructure. If you desire a great work-life balance, there’s no better place to settle down.
Additional Read: How to Start Investing in Real Estate Young
Your turn
Looking for a house in tier-2 cities? Let Tata Capital finance the purchase. We offer affordable home loan interest rates starting at just 6.90% and only require minimal document proofs.
You can also use our home loan EMI calculator to determine the EMI suited to your budget. Visit us to read more.
