Identifying the next boom town

Tier-II cities offer attractive investment opportunities but place your bets only on those you can easily monitor and where there's visible growth

Labourers works at the construction site of a residential building in Mumbai. Photo: Reuters

Today there's a strong case for investors to look at property in Tier-II cities. Residential real estate prices in some of these cities have seen a correction in the past few quarters, according to the Reserve Bank of India's (RBI) House Price Index. Moreover, many of these cities could grow at a faster pace compared to the metros if the country's economy grows at over seven per cent annually. Then, there's the government's smart city project. If successfully implemented, it has the potential to transform many Tier-II towns into metros. "With infrastructure ...