ASSOCHAM study says city fares well in real estate prices, business environment but lags behind in other parameters necessary for a metro city

Chandigarh comes a close second in real estate prices, financial services and business environment, but lags behind in other five parameters necessary for a metro city, says the ASSOCHAM Eco Pulse Study. The study ranks four tier-II cities — Pune, Ahmedabad, Lucknow and Chandigarh — as the most likely contenders for a metro status after Delhi, Mumbai, Chennai, Kolkata, Bangalore and Hyderabad.

They were assessed on eight parameters necessary for a metro city, such as social infrastructure, infrastructure availability, real estate cost and availability, transportation facility (connectivity), presence of quality educational institutes, employment opportunity, facility of financial services and business environment.

According to the analysis, Pune occupies the first position, though it needs to improve on transportation, social infrastructure and financial services. Ahmedabad is the second city with most potential to be a metro, as it provides good infrastructure facilities and connectivity. The study puts Lucknow in the third place as it needs to pick up on infrastructure, business environment and social infrastructure.

Chandigarh, the smallest of the four in terms of area and population, ranks fourth though it fares well in real estate prices, financial services and business environment. At 9.21 per cent, it is the least employment-generating city among the four emerging metros.

Real estate cost and availability

Chandigarh is considered to be the next emerging real estate market after Pune. With the maximum population among the upcoming cities, the Maharashtra town has outpaced the other three cities on this parameter.

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