The market of real estate in metro Cities which has always been in great demand is now soaked. The story goes like this that the Country’s largest loan Lender Companies are now focusing on tier II and tier III Cities. According to them, smaller Cities have 18-20% growth in loan in the fiscal year 2012-13. The real estate industry in India is deeply drilled and has witnessed extreme highs and has also seen steadiness due to higher interest rates and high-end prices.
If Analysts believe that the market in tier I Cities is very volatile and smaller towns are holding up well and will be a key to growth. Contrary to this, they also say that home loans will mainly be sustained by metros as compared to smaller Cities. Hence, the Finance Companies are now garnering to mini Cities. Big Builders are now focusing attention to smaller Cities as they are less prone to inconsistency of the economics up and down.
One of the major reasons of the Lenders luring to small Cities because there is income rising in these semi-urban areas and also the standard of living is raised and many corporate are setting up campus in rich belts.
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