Chandigarh, no 1 among emerging growth centres

Chandigarh, June 22: 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, according to 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 emerging growth centres in India.

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

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

Ludhiana and Guwahati share 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 resources base, green spaces and conducive government policies, the city has become an attractive IT and ITES destination.

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

Corridor development is the latest buzz. Good connectivity at the domestic and global levels, 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 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