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Jones Lang LaSalle Releases ‘India30 - Real Estate Opportunities in Tier III Cities’

Hong Kong and Macau, 29 January 2009 -- With the release of ‘India30 - Real Estate Opportunities in Tier III Cities’, Jones Lang LaSalle provides fresh insights for real estate occupiers, investors and developers into the long-term opportunities and risks across India’s Tier III cities.
India has witnessed exponential growth in its real estate provision over the past decade, and the overwhelming focus has been on India’s Tier I and Tier II cities, such as Mumbai, Delhi and Bangalore.  As the market starts to cools in the major metros, what prospects do India’s Tier III cities offer international real estate players?  What makes these cities tick, and what will keep them ticking when others are facing the prospect of a protracted period of stagnation?
“This is not a simple question to answer, but we have attempted to do so in this report,” states Anuj Puri, Chairman & Country Head, Jones Lang LaSalle Meghraj. “In any given city, the factors that influence real estate growth are diverse and complex. To arrive at a uniform and non-ambiguous model of ‘real’ time potential, we arrived at three control points for this study - infrastructure, human capital and governance. These factors are best suited to reflect growth amongst any city.”
‘India30 - Real Estate Opportunities in Tier III Cities’ showcases 30 cities – the India30 – which Jones Lang LaSalle identifies as the focus of new real estate activity outside of India’s major metros over the next decade. The India30 will set the benchmark by which other Tier III cities will be measured.
“We have short-listed 10 Tier III cities which offer the strongest real estate potential combined with lowest market risk”, states Mr. Puri. “Five cities stand out – Ahmedabad, Chandigarh, Kochi, Jaipur and Nagpur. This group already have rapidly growing real estate markets due to their city size, market reach and connectivity.” A second group of mainly southern Indian cities – Coimbatore, Mangalore, Thiruvananthapuram, Visakhapatnam and Goa – also score well and have growing consumer markets.
With ‘India30 - Real Estate Opportunities in Tier III Cities’, Jones Lang LaSalle makes a strong case for these cities which, led by proactive visionary governments which invest in infrastructure and education, will be best positioned to succeed in the immediate and long-term future.
Should you be interested in obtaining further information on this research paper and its background, we would be pleased to send you the requisite details or arrange a personal interaction with our experts on it.