According to a PwC survey, international as well as domestic investors are
looking at newer cities in India with stable assets for investments, a trend
that will be prominent in 2014, and accordingly Chennai jumps to the hot-list
for the first time surpassing Mumbai and Delhi.
According to the survey, titled ‘Emerging trends in real estate in Asia
Pacific 2014’, Chennai has for the first time emerged in the top 25 real estate
destinations list in the Asia Pacific region.
“Cities like Bangalore, Delhi and Mumbai have been in the top 25 list as
preferred destinations. This indicates that there has been a slight shift in
investor interest from conventional assets in prime markets to newer and stable
assets in niche markets,” PwC India executive director Gautam Mehra said on
Tuesday.
While Bangalore ranked 20th in the list, Delhi stood
at 21st, Chennai 22nd and Mumbai 23rd. Bangalore and Mumbai slipped from their
positions compared to 2013 rankings where they stood at 19th and 20th, while
Delhi maintained its ranking at 21st position.
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