{"id":3762,"date":"2021-07-26T12:50:03","date_gmt":"2021-07-26T12:50:03","guid":{"rendered":"https:\/\/www.omaxe.com\/blog\/?p=3762"},"modified":"2024-02-02T12:11:10","modified_gmt":"2024-02-02T06:41:10","slug":"tier-2-cities-emerge-as-clear-favourites-for-homebuyers","status":"publish","type":"post","link":"https:\/\/www.omaxe.com\/blog\/tier-2-cities-emerge-as-clear-favourites-for-homebuyers\/","title":{"rendered":"Tier 2 Cities Emerge as Clear Favourites for Homebuyers"},"content":{"rendered":"\n

for homebuyers<\/strong><\/h2>\n\n\n\n

The COVID-19 has shifted homebuyers <\/a>preference and how! In the last one year, the demand for homes in State Capitals and tier 2\/3 cities has grown exponentially owing to the reverse migration. The pandemic-induced lockdown forced young professionals to shift to their hometown due to Work from Home implemented by several corporates. Besides, necessity to own a home, demand for bigger space, cost-effective home in these cities, demand for large open & green spaces with amenities in townships etc. were other reasons why homebuyers opted for these cities.<\/p>\n\n\n\n

In Housing.com’s Indian Residential Index for Online Search (IRIS), an index that tracks homebuyers\u2019 activity across 42 cities, Ludhiana and Amritsar made a massive jump of 4 points each in June 2021 from May at 6 and 14 respectively. Delhi-NCR clinched the top spot. Jaipur & Lucknow entered the top 20 at 18 & 20 respectively.<\/p>\n\n\n\n

In 2005, Omaxe, a BSE & NSE listed company, made inroads into State Capitals and tier 2\/3 cities; and in the last 16 years, it has cemented its first-mover advantage into a leadership position. In Ludhiana, the company has operationalized a part and is executing the remaining part of the integrated township Omaxe Royal Residency on Pakhowal Road and in Amritsar, the company has two commercial Malls.<\/p>\n\n\n\n

The overall index rose 9 points in June 2021 but remained 18 points below the peak in September 2020.<\/p>\n\n\n\n

As suggested by IRIS trends, the demand in Tier 2 cities has recovered more quickly than in the top-eight cities, demonstrating resilience during the pandemic.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Delhi-NCR clinched the top spot in June 2021 from Mumbai which ranked 2.<\/p>\n\n\n\n

In Delhi, the company is executing a multi-level parking cum commercial project Omaxe Chowk<\/a> in PPP with North MCD in Chandni Chowk.<\/p>\n\n\n\n

The company is committed to the operationalization of parking in 2022.<\/h2>\n\n\n\n

\u201cThe construction is progressing at a great speed. We are committed to the commencement of multi-level parking before the deadline in order to ease the movement of people and goods in Chandni Chowk,\u201d said Mr. Shravan Govil, CEO, Omaxe Heritage Pvt. Ltd. (100% subsidiary of Omaxe Ltd.).<\/p>\n\n\n\n

In Delhi-NCR<\/a>, Gr. Noida & Faridabad saw maximum online traction in June 2021.<\/strong><\/h3>\n\n\n\n

In Faridabad, Omaxe has operationalized themed high street Omaxe World Street<\/a> and is undertaking construction of mall, office space and an apartment & penthouse. The Delhi-Mumbai Expressway is a 5 min walk from the project.<\/p>\n","protected":false},"excerpt":{"rendered":"

for homebuyers The COVID-19 has shifted homebuyers preference and how! In the last one year, the demand for homes…<\/p>\n","protected":false},"author":1,"featured_media":3528,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[66,297],"tags":[567,566,427,479,564,565],"wbAuthor":{"name":"Omaxe","link":"https:\/\/www.omaxe.com\/blog\/author\/omaxe\/"},"wbDate":"Jul 26, 2021","wbCategories":{"space":"News<\/a> Real Estate<\/a>","coma":"News<\/a>, Real Estate<\/a>"},"wbComment":62,"yoast_head":"\nTier 2 Cities Emerge as Clear Favourites for Homebuyers<\/title>\n<meta name=\"description\" content=\"The COVID-19 has shifted homebuyers preference and how! 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