MUMBAI: A mess of things using the advance of Tier II and Tier III towns in India helps them draw in multinationals to arrange international capacity centres, HDFC chairman Deepak Parekh has mentioned, bringing up availability of skill and decrease dwelling prices as main components at the back of the developments.
“Apart from the IT industry, Tier II and III cities are becoming attractive destinations for GCCs. India commands over 50% of the world’s market share for GCCs,” Parekh said while addressing developers at an event in Mumbai on Saturday.
A Deloitte report has revealed that over 50% of India’s employable pool in Tier II cities is employable compared to 30% in Tier I cities.
On real estate, Deepak Parekh encouraged the development of affordable housing projects at the right location and price, emphasizing that while they may have lower margins, the velocity of sales and cash flows is much higher.
“Recent estimates forecast that the Indian real estate market is likely to touch $1 trillion by 2030. It still has a housing shortage estimated at over 29 million units,” he mentioned.
He added that the withdrawal of the credit-linked subsidy scheme and concessional stamp tasks in sure states, coinciding with the uncertainty on rates of interest, had dampened housing call for, particularly for low-income housing segments. “I also believe the definitions of economically weaker sections and low-income groups or even the loan and property amounts used to qualify for priority sector housing loans need to be revised periodically to reflect changing market realities,” mentioned Parekh.
“Apart from the IT industry, Tier II and III cities are becoming attractive destinations for GCCs. India commands over 50% of the world’s market share for GCCs,” Parekh said while addressing developers at an event in Mumbai on Saturday.
A Deloitte report has revealed that over 50% of India’s employable pool in Tier II cities is employable compared to 30% in Tier I cities.
On real estate, Deepak Parekh encouraged the development of affordable housing projects at the right location and price, emphasizing that while they may have lower margins, the velocity of sales and cash flows is much higher.
“Recent estimates forecast that the Indian real estate market is likely to touch $1 trillion by 2030. It still has a housing shortage estimated at over 29 million units,” he mentioned.
He added that the withdrawal of the credit-linked subsidy scheme and concessional stamp tasks in sure states, coinciding with the uncertainty on rates of interest, had dampened housing call for, particularly for low-income housing segments. “I also believe the definitions of economically weaker sections and low-income groups or even the loan and property amounts used to qualify for priority sector housing loans need to be revised periodically to reflect changing market realities,” mentioned Parekh.