How Places like Agra will emerge as future destination?
When it comes to investing, we Indians prefer investing in property to anything else. Property investment is one of the most favored earning options in India. However, not all can invest in high-end properties or in metro cities so a large chunk of people are investing in tier 2 pockets. Markets like Agra, Kanpur, Jaipur, Chandigarh are becoming top favorites real estate investment hubs. People believe in investing in local properties for prolonged growth.
These tier 2 markets have lower prices, bigger homes, and better returns on investment — combined with government incentives for affordable housing. These markets are picking up the pace as it is witnessing heavy investment from middle or affordable income groups. For a city like Agra, a mounting real estate investment hub, rapid infrastructure growth, and industrialization have been big factors driving the interest of buyers. The government’s push for affordable housing is also stimulating these markets.
Agra which just 3 hrs away from Delhi connected by smooth Yamuna Expressway. These corridors are enhancing the demand for housing units in Agra. People now can easily commute for their jobs or any other work-related issues. Also, as the cost of living is low compared to metro cities, places like Agra are seeing a substantial influx of migrants.
The rapidly mounting population in the metros has led to a point wherein the developers are reporting the saturation of land and subdued housing demand. This has further propelled buyers to divert their attention to cost-effective tier-II markets. According to a recent report, real estate investments in tier-II cities have increased by approximately 20 percent over the last year. One of the major factors that have made it possible is the rapid infrastructural growth in tier-II cities that has provided a thrust to the real estate market of these cities.
Places like Agra will continue to see heavy housing demand, as this is an untapped market and the law and order condition is good. The push towards organized MSMEs in this market and it’s being a significant export hub are added attractions that are giving real estate market a boost, and make it a place worthy of investment. Agra forms the third destination of the Golden Triangle- Delhi, Jaipur and Agra- thereby having excellent connectivity with these major cities.