WITH REALTY PRICES TOUCHING THE ROOF IN ALMOST EVERY METRO, THOSE ASPIRING TO PURCHASE PROPERTY HAVE ONLY ONE OPTION - TO INVEST IN TIER III TOWNS WHERE THE COST DOES NOT PINCH

With development taking place all over India and a high price index to match, people are finding it difficult to buy property that suits their budget. Property in Tier I cities is beyond a buyers' reach. The only choice then left is to consider Tier III cities where real estate prices are still affordable and the prospects of appreciation are high.

At present, Tier III cities are believed to offer a cost advantage of 15-30 percent over Tier I and II cities. Of the leading Tier III cities, the townships that are likely to see huge growth in the coming years include Dharuhera, Zirakpur, Moradabad, Rishikesh, Haridwar, Vrindavan, Mathura and Yamuna Nagar.

Investors are condsdering Tier III cities as a viable business option. Realty surveys indicate that the growth of these cities will soon grab the attention of technology sector players as well. Ahmedabad, Chandigarh, Indore, Kolkata and Nagpur are some Tier III cities which are best positioned to emerge as major IT centres for offshore activities over the next five years, according to a recent Jones Lang LaSalle report titled 'India The Next IT Offshoring Location. Tier III Cities'. Here's a brief look at these townships.

                                                                           Courtesy: HT. dtd- 26-04-08