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The Developer

Azeagaia Development Private Limited is a prominent Indian real estate firm, promoted by Singapore-based companies through the automatic foreign direct investment route (FDI), having considerable experience and expertise in real estate development market and advisory services across the world. Our area of specialization lies primarily in the development of Residential Townships, Commercial Buildings and Developmental Projects.
info@azeabotanica.com
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Tier 2 Cities – Best Platform to Amplify & Grow your Investment



Tier 2 Cities – Best Platform to Amplify & Grow your Investment

In today’s times, making an investment is not a child’s play. The world around us is in transition and so does the investment arena. If we talk about property investment, there is still no handbook to ensure you make the best investment decision. Property investment for a long time was considered to be mostly about investing in big cities. However, in the present scenario, many property enthusiasts are positive about investing in tier 2 cities like Lucknow, Allahabad and many others.

There are various aspects of property investment which the investor needs to weigh and compare before giving thumbs up to a deal. Although all the investors look for best investment opportunities, the only handful of them gain the real wealth.

Often, the property dealers or sellers try to persuade you into buying a property using their misleading tactics. And the only way out to escape the trap is to stay well-informed.

 

What does a Tier indicate?

India is a nation of diverse people with culture and language varying at every turn. In addition, India sits on the 3rd position in world population, and this population spreads over 4000 cities. Thus, in order to classify the cities, the Government of India devised the Tier System. The system follows population size as the criteria to stack a city under the level of Tier. It comprises of four Tiers - Tier 1, 2, 3 and 4. There are about 8 cities under Tier 1, 26 under Tier 2, 33 under Tier 3 and over 5,000 Tier 4 towns.

Tier 1 cities like Delhi, Mumbai, and Bangalore are considered to be offering better standards of living and job opportunities. However, Tier 2 cities are no behind. Gone are the days when a person has to move to a Tier 1 city to even grab a basic job.

 

The Tier 2 Cities: Blooming and Grooming. 

 

The Tier 2 cities are emerging in standards of living as well as opportunities, giving a complete life to citizens. Take Lucknow as an example - a Tier 2 city famous for its Nawabi Era and Cuisine, is also showing a robust growth - in Infrastructure, Lifestyle, Housing, and Consumer Market. With the onset of Metro, Lucknow is on the path of leaving no stone unturned in competing with the well-developed cities. Furthermore, the Art City is soon to be turned into a Smart City.

One of the most attractive features of Tier 2 cities is - being in the middle tier they share the best of both, Tier 1 & Tier 3. For instance, Tier 2 cities don’t have a high cost of living like tier 1 and at the same time are not underdeveloped like Tier 3.

 So, let’s read more to dig more about how property investment in Tier 2 cities can reward you:

•    Convenient Commute: Whether it’s about setting up your business, or planning a home, the distances within the city do matter. In Tier 2 cities, you can commute easily using either your own conveyance or the public transport as the distances in Tier 2 cities are not as far as Tier 1. Thus, consuming much less of your precious time.

Consequently, the process of settling here becomes easier as you can travel across the city without feeling much exhausted.

 

•    More Opportunity for Businesses to Grow & make a Mark: Today, if you go to Mumbai or some other Tier 1 city and set up a start-up, there are fewer chances to stand out and make a mark, especially on the local authorities or people. This is because big cities like Mumbai are already flooded with start-ups and businesses and your very own business also becomes a part of the crowd.

 

However, if you come to live in a Tier 2 city and set up a business, there are high chances of you ruling the market and attracting the local authorities as well. The Tier 2 cities welcome new business ideas with open arms and soon make it flourish. Moreover, the workforce for your business here can be hired at a much lower cost than big cities.

 

•    Cost of Living: As per a survey by Magic Bricks, low cost of living is the major reason which attracts investors to the Tier 2 cities. The low rate of rent, low cost of property, less costly household stuff as compared to Tier 1 are some of the factors reducing the cost of living which doesn’t put a hole in your pocket. With a low cost of living, the life in Tier 2 cities is affordable even if you are not earning high.

 

•    Low Rates of Property: Property rates are considered the most important factor when it comes to moving to a new city. Different people have different budgets for property investment and so before moving to a place, it is advised to go for a city suiting your budget and plans.

Now, if you are planning to move to any Tier 2 city you do not have to worry much about the cost of properties here. This is because the properties in Tier 2 cities are much cheaper as compared to Tier 1 cities; often the difference is almost half.

•    Projects in Abundance:  Due to the ever-growing nature of the Tier 2 cities, the housing projects in these places know no limits. Explore these cities and you will get to know the real estate development work going leaps and bounds. From apartments to townships, to plots you name a property and it’s there. Thus, it is the growth potential of Tier 2 cities which drives the builders to lay their projects.

 

•    Government’s Attention: Usually people have a mindset that the government’s major attention is towards Tier 1 cities. On the contrary, the government is focusing more on Tier 2 cities to bring them up and offer its citizens a better lifestyle.

 

Smart city program, where Tier 2 and Tier 3 cities are taking the lead is a perfect example of Government’s focus on small cities.

 

•    Growth-oriented Local Authorities: The Local Authorities in small cities are progress-oriented. They are upbeat about making programs and policies which lead to the betterment of their city. Moreover, since the people in Tier 2 cities are not too resistant to change they always support the authorities when it’s about the development of their city.

Apart from the above-mentioned perks, the life in Tier 2 cities is much easier and happier. Furthermore, less population as compared to the big cities is an added attraction.

We hope, after reading this, you will soon execute your plan to buy a property or invest in a tier 2 city like Lucknow, and if yes then come to us for we will be glad to help you plan your life ahead.

Our Project - Azea Botanica is nearing possession. We have been extra compliant to have all our deliverables as underlined in the RERA.

Reach out to us and do not miss the opportunity to avail your dream home.