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Thursday, October 4, 2007

Growth of the retail in tier II cities will overtake Big Metros : was an overestimation! The reality is quite different!!

"Developers and retailers have realized that they need a model that is sustainable and gives them returns. Which is why they are taking their land in tier-II towns and using just a part of it for retail, the rest is being converted into office space, hotels and residential buildings," said Pritam Chivukula, National Director, Colliers International.

"Why is Reliance using just 100,000 sq ft of its three-acre land in Jalandhar for retail and leasing out the rest?" asks Devna Vora and finds out the answer in her story "Realtors play safe in tier-II towns" on NDTV PROFIT.

"Quite a different song to what was being sung a year ago!" says Devna Vora!

Do you want to know what song?

"Tier-II retail growth will overtake major metros!"

The good news is these mixed development models are more likely to succeed.

But what about big retail revolution in Ludhiana, Bhubhaneshwar, Lucknow, Cochin, Pune and in all tier II cities of India?

Wait for the next in depth research report from some international real estate consultant!

Posted by Ravi Karandeekar at Thursday, October 04, 2007

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