1. Dual income: “Most banks prefer giving joint home loans to a couple, as they are assured of a dual income, young couples should take advantage of this,” feels Namrata Pande Sriavstava, Managing Director of the Singapore based real estate firm Evente Clinic. Also the working couple can pay their EMIs faster with dual income.
2. Appreciating asset: It is far better to invest in real estate early, as this is an appreciating asset which only grows over time.
3. Less burden at this stage: A couple at the early start of their married life, can think of a serious long-term investment. Most couples now have children at a later stage and it makes sense to think of investment before their other responsibilities arise.

All in all if a couple can they should seriously consider investing early in buying real estate. Over the years the property prices will escalate, and sometime in their middle age they can exercise the option of upgrading to a better home. Real estate as an investment can give rise to rental income which can work as their second income option. “Start young, be well informed, do your research and be prudent,” sums up Namrata Pande Srivastava.

Here are some of the main reasons for real estate growth in Tier 2 and Tier 3 cities:

• As per the report, India’s urban population is likely to surpass 850 million by 2050, of which 50 percent is expected to be in the age group of 19-58 years, which is the key demographic core to the consumer demand phenomenon. With increasing disposable incomes and nuclear families, this will lead to a higher demand for housing and organized retail consequently.
• Tier 2 and tier 3 cities offer skilled labour at cheaper rates. Lower fixed costs/overheads in smaller towns are leading to higher disposable incomes. cities such as Chandigarh, Coimbatore, Vadodara, Jamshedpur have become the hub of e-commerce while Ahmedabad, Surat, and Vadodara have made huge progress in the industrial sector. On the other hand, Coimbatore has more than 25,000 SMEs while Vizag has been suitable for industries such as mining, heavy manufacturing, etc. Jaipur has been leading in service sector investments.
• The availability of land and labour at reasonable rates compared to metro cities will lead to affordable prices of real estate in these locations. The land is one of the major components for a typical real estate project. Thus, lower land costs will lead to affordable rates of residential units and rentals in the case of retail projects.
• Expensive transportation along with huge traffic and travel time are some of the common drawbacks associated with the metros. However, small cities tend to mitigate these disadvantages. As a matter of fact, improvement in connectivity has made these cities more accessible and hassle-free than the metros. International airports have been established in cities like Chandigarh and Amritsar. With enhanced connectivity through flyovers, bypasses, expressways, metro, and industrial corridors, several reputed developers are now looking forward to marking their presence in the smaller towns.