North India’s Top Tier 2 Cities for Purchasing Land or Plots

Top Tier 2 Cities  : The cost of living in Tier 1 cities is also on the higher side, in addition to the cities’ rapidly growing populations and high pollution levels. With these elements in mind, there has been an increasing tendency in the nation about the purchase of plots in north India. Many people are now going to Tier 2 cities for a calm existence instead of choosing crowded metropolises or Tier 1 cities, and they are also investing in plots in north India.

Due to the easy access to affordable land and the rapid development of these cities, numerous new residential and commercial buildings have been constructed. The majority of Tier 2 cities also forecast significant increase in employment, education, and quality of life.

Therefore, the Tier 2 towns listed below provide a wealth of lucrative possibilities if you’re looking for the best places in North India to buy plots.

 


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Invest in the best Tier 2 cities

1.  Haryana

Gurgaon

Gurgaon, which is in the state of Haryana, is one of the most sought-after Tier 2 cities in North India for purchasing plots. The city is renowned for its banking and finance industries in addition to being India’s second-largest information technology centre.

With a 2017 HDI of 0.889, Gurgaon also has India’s highest Human Development Index (HDI). Comparing Gurgaon’s plot prices to those in Tier 1 cities like Mumbai and New Delhi, they are also relatively reasonable.

Numerous start-up businesses and high-tech firms are based in Gurgaon. As a result, it guarantees a wide range of work prospects for young professionals from across the nation.

The city is connected to some of the top roads in the nation and benefits from outstanding infrastructure facilities. Gurgaon’s connections to neighbouring towns and cities are made possible by National Highway 48, which connects Delhi and Mumbai. The Delhi-Gurgaon Expressway is a crucial route for city commuters on a regular basis. The Hero Honda Chowk Flyover and the Dwarka Expressway are significant planned developments that are still in the planning stages.

Sohna Road, DLF City Phase 1, Sector 57, Sector 73, Sector 89, and Palam Vihar are the main areas enjoying a real estate boom.

Trends in prices:

Area Prices in 2018

(Rs/square yard)

Prices in 2019 (Rs/square yard) Prices in 2021 (Rs/square yard) Quarter-on-quarter price trend increase
Sohna Road 68888 71860 91622 1%
DLF City Phase 1 119814 135663 187768 11%
Palam Vihar 65941 69417 92776 3%
Sector 57 64532 85134 115286 7%

 

Faridabad

One of the greatest places to purchase land in India is in this significant and quickly expanding metropolis in Haryana. As part of the government’s Smart Cities Mission, it is also one of the 100 cities that will be transformed into smart cities. Due to its proximity to the national capital, abundance of employment prospects, and significant economic growth, Faridabad is fairly well-liked by real estate investors.

Faridabad is well known for its agricultural industry in addition to being a significant industrial centre in Haryana. In addition to producing key industrial goods including motorcycles, tractors, refrigerators, clothing, shoes, and tyres, the city is particularly well known for its henna. Thus, investing in a plot or piece of land in Faridabad is wise. The city’s healthcare and education industries are both very advanced.

Faridabad is connected to the adjacent towns and cities via the national highways 2 between Delhi and Agra and Delhi and Mathura. The Badarpur-Faridabad city corridor is a significant project that is currently under construction. In addition to this, the state government intends to build a metro rail connection between the city and Gurgaon.

Neharpar, Sector 65, Dayal Basti, Sector 75, Sector 76, Sector 85, and Sector 89 are the main areas enjoying a real estate boom.

Trends in prices:

Area Prices in 2018

(Rs/square yard)

Prices in 2019 (Rs/square yard) Prices in 2021 (Rs/square yard) Quarter-on-quarter price trend increase
Neharpur 23002 26085 40518 16%
Sector 65 26027 34884 36084 8%
Sector 75 21616 25462 35274 12%
Sector 76 20288 24060 36170 23%

 

Chandigarh

Chandigarh, one of the greatest places to purchase land in India, is renowned for being the first planned city in the nation. This city/union territory is proud of its well-designed home developments and cutting-edge construction, which draw in real estate investors from all over the world. It is regarded as one of India’s happiest cities and has a high per capita GDP.

Numerous well-known IT businesses, including Infosys, Virsa, Net-Solutions, IBM, and Taurus Agile, are headquartered in the city and employ experts of all ranks. In addition to this, the city is home to a large number of small and medium-sized businesses and factories.

According to the Ministry of Urban Development, Chandigarh has a far higher public transportation accessibility score than Chennai, Hyderabad, Bangalore, Kolkata, and Delhi. Through an effective network of roads, trains, and highways, the city is well-connected to the neighbouring towns and cities.

Major real estate hotspots include Zirakpur, Dera Bassi, Dhakoli, VIP Road, and Kharar.

Trends in prices:

Area Prices in 2018

(Rs/square yard)

Prices in 2019 (Rs/square yard) Prices in 2021 (Rs/square yard) Quarter-on-quarter price trend increase
Dera Bassi 12226 15261 14697 6% down
Zirakpur 31284 17%

2. Uttar Pradesh 

Agra

The Taj Mahal, the Agra Fort, and Fatehpur Sikri are three significant UNESCO World Heritage Sites that may be found in Agra, which is a city on the Yamuna River. The city is much more than just a well-liked tourist attraction, though. One of the best places in North India to purchase plots is Agra, a rapidly expanding Tier 2 metropolis.

Along with a thriving tourism sector, Agra also boasts a thriving industrial sector where businesses like leather, footwear, and others create a tonne of job opportunities. Roughly 7000 small-scale businesses, as well as well-established iron foundries and the automobile industry, make up the city’s industrial sector, which makes up about 40% of the overall economy. With wheat, mustard, paddy, and bajra as its main crops, Agra also boasts a robust agricultural sector.

The city also has a decent transportation system. Agra International Airport and the Agra-Lucknow Expressway are two significant planned projects in this region. In addition to these, BRTS and the extension of the NCR to the Agra Metro Rail are in the works.

Shamshabad Road, Shastri Puram, Dayal Bagh, and Sikandra are the principal regions enjoying a real estate boom.

Price trends: Over the past several days, the prices of some of the best residential properties on Agra’s Shamshabad Road have risen by as much as 2%.

Ghaziabad

One of the best towns in North India to invest in property is Ghaziabad, which is adjacent to the country’s capital. It is well-known as Uttar Pradesh’s principal educational, commercial, and industrial hub and is a top choice for real estate investors. Ghaziabad is the city with the second-fastest growth rate in the world, according to the City Mayor’s Foundation Survey.

Numerous well-known businesses, like Dabur India Ltd., TATA Steel BSL Ltd., and Bharat Electronics Ltd., are located in Ghaziabad. There are therefore plenty of job prospects in this area. An essential educational hub for the state is located in Ghaziabad.

Ghaziabad has an excellent transportation system because of the government’s admirable efforts to urbanise the area. In addition, the government intends to increase National Highway 24’s width from four to fourteen lanes between Delhi and Ghaziabad. Along the route, other residential and commercial complexes are also being built. In and around the city, some significant infrastructure projects include:

  • Quick Rail Transportation System
  • An exclusive freight corridor
  • Expressways
  • DMICDC’s Industrial Township

The price of land in Ghaziabad has increased as a result of significant infrastructure growth and a large number of employment prospects.

Indirapuram, Lal Kuan, Loni, NH 24, Vasundhara, Wave City, and Govindpuram are among the major locations enjoying a real estate boom.

Trends in prices:

Area Prices in 2018

(Rs/square yard)

Prices in 2019 (Rs/square yard) Prices in 2021 (Rs/square yard) Quarter-on-quarter price trend increase
Indirapuram 87509 89633 94979 2%
Lal Kuan 10211 13384 16917 3%
Loni 14895 13675 17645 1%
NH 24 15456 20761 28052 0.1%

 3. Rajasthan

Ajmer

Ajmer, which lies in the centre of Rajasthan, is one of North India’s rapidly growing Tier 2 cities where plots can be purchased. The city is a thriving industrial centre in addition to being relatively mineral rich. Ajmer has also been chosen for the Government of India’s Smart City Mission programme.

Numerous well-known large businesses, like Hindustan Machine Tools Ltd. (HMT), R.K., are located in the city. Costmet Works Private Ltd., Marbles Ltd., and Shree Cement Ltd. Both Ajmer Dairy and Ajmer Food Products Pvt Ltd. are significant middle-scale businesses in this area. The leather industry, cotton textiles, granite, marble, cement, and engineering products are the city’s top exports.

The city’s well-developed rail and road networks are encouraging investors to purchase sites. Not only that, but there are also some significant infrastructure projects in the works. These consist of:

  • Project of the Global Environment Facility
  • Dargah Area Urban Renewal
  • Ana Sagar Lake Restoration and Preservation
  • Project for a Water Supply Transmission System

Kotra, Kishangarh, Pragati Nagar, Lohagal Road, Ghooghra, and Panchsheel Nagar are some of the major areas enjoying a real estate boom.

Price trends: Over the past five years, Ajmer’s land and plot prices have been rising steadily. Prices in certain parts of the city increased by 3% last year.

4. Maharashtra 

Bhiwandi

Bhiwandi is an excellent choice if you’re looking to buy a plot in Maharashtra. The city has experienced exponential expansion in recent years, along with outstanding increases in property values. Bhiwandi is regarded as one of the best places in North India to invest in land due to its extensive commercial development, good social infrastructure, and closeness to Mumbai, Thane, Pune, Nashik, and Aurangabad. Numerous well-known real estate developers, like TATA Realty, Arihant, and Kalpatru, are also entering this sector.

In Maharashtra, Bhiwandi is a significant centre for logistics. It houses the warehouses of numerous well-known businesses, including Amazon, Flipkart, Pepperfry, and Myntra.

The textile sector is also thriving in the city. In Bhiwandi, which is a well-known commercial centre, there are many job options.

Bhiwandi also has a highly developed social infrastructure as a result of its location along the Mumbai-Nashik route. The city has all necessary social facilities, including educational institutions, hospitals, banks, and shopping centres. One of the city’s most significant forthcoming projects is the Thane-Bhiwandi-Kalyan metro railway line.

Real estate is booming in several major regions, including Kalher, Mankoli, Kalwa, Kamatghar, and the Mumbai-Nashik Highway.

Price trends: Over the previous few years, there has been a decline in price rates. However, experts predict that in the upcoming years, property prices in Bhiwandi would rise due to the rising demand for lands and plots. Consequently, investing in a block of land in Bhiwandi will pay off in the long run.

5. Uttarakhand

Dehradun

One of the best cities in North India to purchase a property is Dehradun, a well-liked tourist destination. It boasts all types of conveniences for a pleasant lifestyle and is tucked away in the lovely Doon Valley. These elements make this lovely city a popular option for real estate investors. Dehradun is one of the safest cities in the nation, according a poll done by KMPG and Dainik Jagran.

Dehradun, the largest city in the state and the capital of Uttarakhand, is well-developed. To stop migration and the population expansion in New Delhi, the government is also attempting to develop it as a smart city in the Himalayas.

The Forest Research Institute, Indian Military Academy, and Wadia Institute of Himalayan Geology are among the notable educational and tourist destinations that call the city home.

A network of highways and railroads connects Dehradun to adjacent locations, and it has a good infrastructure. It is one of India’s fastest-growing cities in terms of industrialization and commercialization. It is home to numerous factories, malls, and global organisations. The city’s real estate market is being driven by these significant elements.

Additionally, the government intends to enlarge city streets to facilitate better traffic control. Two significant forthcoming developments in the city are the Delhi-Dehradun Expressway and child-friendly urban mobility.

Bhauwala, Dhaulas, Doiwala, Dudhli Road, Raipur, Rajpur Road, Prem Nagar, and Sahastradhara Road are the principal locations witnessing a real estate boom.

Trends in prices:

Area Prices in 2018

(Rs/square yard)

Prices in 2019 (Rs/square yard) Prices in 2021 (Rs/square yard) Quarter-on-quarter price trend increase
Dhaulas 8495 6%
Sahastradhara Road 21938 24108 27798 2%
Raipur 15174 3% down
Rajpur Road 36161 4% down

 

Conclusion

An essential investment that provides long-term wealth to investors is real estate. Before purchasing a block of property in north India, you must, however, take some aspects into account. Future appreciation of a property’s worth is more likely in an area with significant businesses, offices, schools, and infrastructure facilities. Therefore, conduct your research and choose a region that is having a real estate boom rather than investing at random.

Considering that most Tier 2 cities have experienced exponential growth over the past few years, purchasing a plot there is a wise move. They provide many professional options for employment and are well-equipped with crucial amenities.

 

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