Jones Lang LaSalle India (JLLI), has adopted another framework and has put together a list of non-metros and emerging cities. In western India, Ahmedabad, Jaipur and Jodhpur are suggested while in the north, Chandigarh is favoured. In the south, it suggests Kochi and Coimbatore and Visakhapatnam in the east as one of the emerging and non-metro locations for significant appreciation in future. These locations require low capital investment as compared to the highly developed metros.
Their demand drivers are interesting. Ashutosh Limaye, head of research, JLLI, says that Ahmedabad, the commercial capital of Gujarat has one of the highest per-capita incomes in the country. Due to the ultra-progressive policies, well planned industries and infrastructure, high investment and intelligent development, it has become one of the most exciting destinations in India.
Kochi is the commercial capital of Kerala and a major tourist destination. Besides, it is witnessing a boom in the IT/ITeS sector as well. Coimbatore the big industrial centre in Tamil Nadu is becoming preferred location for the IT/ITeS industry. It offers excellent infrastructure, quality of life, highly skilled workforce and low cost of living.
Jaipur and Jodhpur — the major international tourist attractions — have an excellent connectivity to Delhi and other cities in the region, Jaipur is identified as a very promising city for BPO and IT industries. Visakhapatnam is a major port and industrial centre, and the hub for petroleum, steel and fertiliser industries. In addition to the biotech SEZ, it also hosts an IT SEZ.
Chandigarh, the capital of Punjab and Haryana is one of the most well-planned cities of India with very high per-capita income. The Technology Park has put it on national IT and international outsourcing sector map, says Limaye.
Another real estate consultancy Knight Frank India has drawn up an advisory report, which claims to address the need of the home buyer from an investment point of view over the next five years i.e. 2013-17. The report suggests 13 local areas in 5 major well-known regions across the country — Mumbai, Delhi-NCR, Bengaluru, Chennai and Pune.
“With property options ranging from Rs 3,200