Chandigarh ranked number one among emerging growth centres in India

Chandigarh, June 21 (UNI) The city of Chandigarh has been ranked number one among the emerging growth centres in India, according to a study.

The city of Nagpur has been ranked second whereas the cities of Goa and Kochi are ranked third, said the study conducted by Knight Frank, a world renowned, UK-based global property consultancy.

As many as 15 cities were surveyed by Knight Frank for determining the emerging growth centres in India.

Chandigarh is ranked highest in terms of real estate, physical infrastructure and business environment parameters and has emerged as the most attractive centre among the 15 emerging growth centres covered in the study.

Chandigarh, with an active state economy and a proactive government, ranks the highest on the business environment parameter and is followed by Visakapatinam which is ranked marginally lower on the investment fund.

Ludhiana and Guwahati shared the lowest ranks as the investment scenario is still to pick up in these cities.

In terms of physical infrastructure, Chandigarh and Nagpur have been ranked number one as both the cities enjoy good telecom, power, roads and air connectivity. These cities are closely followed by Jaipur, Goa and Visakapatinam.

However, Chandigarh has been ranked low on the social infrastructure parameter due to the paucity of star-grade hotels and entertainment avenues but it has been ranked well on the education front.

Chandigarh, with its even ratings in the sub-parameters of decadal growth, purchasing power and literacy, comes a close second along with Kochi and Indore where the literacy rate and purchasing power of the average consumer is relatively high.

Owing to the quality human resource base, green spaces and conducive government policies, Chandigarh has become an attractive IT and ITES destination.

Establishment of Chandigarh Technology Park (CTP) in Manimajra, north-east of Chandigarh, and IT Park in nearby Mohali has provided requisite space for the IT and ITES companies considering their expansion plans in Chandigarh.

Corridor development is the latest buzz in Chandigarh region. Good connectivity at domestic and global level, lower operational cost and easy availability of skilled labour, higher incomes and lavish lifestyle has put real estate on an upswing in the region.

The city offers ample opportunity for hospitality business as well.

With more corporates establishing offices in the region, a significant demand of hotels is witnessed. Higher yields in Chandigarh will encourage the development of integrated townships - self reliant developments encompassing residential, retail and commercial units, over the next few years.

Besides Chandigarh, other cities taken up for the ranking survey include Ludhiana, Lucknow, Guwahati, Bhubaneswar, Jaipur, Ahmedabad, Surat, Nagpur, Indore, Goa, Visakapatinam, Mysore, Coimbatore and Kochi.

UNI