Tier III cities are in realty race and are attracting large interests from real estate developers as well as potential investors. IT/ITes companies and upcoming retailers are jostling hard to make profits on the first mover advantage in these markets. They are counting on the factors like low property rates, availability of vast land, a great workforce, and improving living standards.
The growth of Indian rich and consuming class coupled with dropping rates and other fiscal investments on home loans has been major reasons increasing appetite of the average Indian consumer. This has been further fuelled by growing working population in the age group of 25-55.

As such, the city of rock garden does not have much to offer as far as residential development is concerned. The development has been shifted to the areas of Pinjore, Zirakpur, and Kharar from Mohali and Panchkula. The size of these colonies ranges from as low as 5 acres to as high as 200 acres.
Bhubaneswar is another place which is offering a conducive atmosphere to IT sector. IT majors Infosys and Satyam are planning to spread their wings here. Apart from Infocity-I, DLF is coming up with IT Park in Chandaka Industrial Estate. Genpact has also announced its plans to set up BPO SEZ in Mancheswar Industrial Estate. A bio-tech park is also on the anvil.

Source: Economic Times