Unleashing India’s Potential: How Smaller Cities Will Drive a ₹10 Lakh Crore Real Estate Boom by 2030

India’s real estate scene is changing. Instead of just big cities like Delhi or Mumbai, smaller cities are stepping into the spotlight. A report called BHARAT 2030 highlights this trend. Ashwinder R. Singh, an expert in the field, explains that this shift is driven by fresh aspirations, affordable options, and better access.

According to the report, cities like Raipur, Belagavi, and Udaipur are emerging as important players in India’s growth story. Even smaller cities like Ayodhya and Haldwani are becoming vital to a real estate economy expected to reach INR 10 lakh crore. Singh points out that for years, everyone’s focus was on a handful of metro cities. Now, more cities are becoming active contributors to the economy.

Bhubaneswar is leading the way with smart city initiatives, blending cultural elements with user-friendly urban designs. Jabalpur and Gwalior are expanding thanks to improved transport connections. Meanwhile, cities like Salem are becoming health-tech hubs, following Coimbatore’s success.

In central India, Raipur and Siliguri are turning into logistics hubs, while Hosur and Aurangabad are becoming spots for electric vehicle manufacturing. The area around Chandigarh is evolving into integrated communities for work and living, showing the development potential beyond industry.

Importantly, infrastructure development is now ahead of real estate growth in these smaller cities. Roads, airports, and metro systems are being built, making these locations attractive for investment. Many companies are drawn in by low land costs and a skilled workforce. Rising incomes, better education, and improved internet access are encouraging more people to buy homes. Local governments are also making it easier for companies to set up shop.

Another interesting trend is reverse migration. Many people are returning to their hometowns for a more balanced life, greener spaces, and lower living costs.

The report advises real estate developers to invest early in affordable housing and plotted developments. They should work closely with local partners to build trust and ensure projects are completed on time. Investors should look beyond traditional cities and focus on areas with good policies and infrastructure.

Overall, this shift marks more than just economic change. It’s about creating balanced urban growth and opportunities across India. Rather than focusing solely on big cities, the future of Indian real estate may lie in these rising smaller towns and cities.

As we look ahead to 2030, India’s story is set to be written not just in the skylines of its metro cities, but in the aspirations and growth from its heartlands.

For more insights on urban development trends, check out the recent research from NAR India.

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