Q: The Karnataka state government announced the subsequent opening up of Indian real estate markets in various Tier-II cities. Which are the cities they are mostly focusing on?
In a move to cut down the onus on Bangalore, the Karnataka government has encouraged the growth of Tier-II cities, via various measures such as removal of VAT on aviation turbine fuel, development of industrial corridors, public-private partnership initiatives, single window, promotion of industrial clusters and ease of land acquisition.
Tier-II cities in India, at present, are witnessing a rampant change, and potential urban sprawls in Karnataka should cash on it. The communication lay emphasis on seven tier-II cities in Karnataka, sorted out on the basis of population. Mysore, Shimoga, Hubli, Dharwad, Raichur, Belgaum, Gulbarga and Bellary are the rapidly rolling urban areas of Karnataka that promises to change the real estate landscape of the state, significantly.