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Made in Madurai                

Thursday, November 03, 2011

Economy of Tier-II and Tier-III cities to improve a lot in coming years - Madurai, Trichy, Coimbatore and Salem - Real Estate Jobs and Gold Investment

Article sponsored by OruAcre.com, Sana Placement Services and YellowHomes.in

36 cities in India had been identified as future cities. 13 cities out of 36 cities in India is incidentally from South India - Tamil Nadu, Kerala, Karnataka and Andhra Pradesh.

Out of 13 cities, 4 are from Tamil nadu and they are - Coimbatore, Madurai, Trichy and Salem.

In terms of Gold Jewellery Stores, 55 percent of the consumption is from Tier-II cities and that is said to grow into 65 per cent. Hence, gold jewellery stores are aiming to have expansion plans into Tier-II cities in the next coming years.

The same applies to the garments and clothing retail industry.

When it comes to Real Estate, there is more compelling reasons for people to buy first home or land in their home city - that is native place like Madurai, Coimbatore, Salem and Trichy. Akshaya, the chennai based realtor is already expanding to Coimbatore and their next projects are going to move towards Madurai and following that to Trichy as well.

When it comes to business expansion and companies starting their offices, it is on increase for companies to open their branches in Tier-II cities like Madurai Coimbatore Salem and Trichy.

The employees are much more loyal when compared to the peers in the metro cities. There is very less attrition rates in Tier-II cities. Cost of Operations is much lesser in Tier-II cities compared to Chennai and other metro cities.

First America and Cap Gemini are already there in Salem. Honeywell has a base in Madurai. MNCs like Ford Business and Robert Bosch are looking to expand into Coimbatore. For leading IT player, Cognizant, Coimbatore is already a big destination employing around 5,000 people. Nearly 40 per cent of recruitment for the IT industry already takes place from in and around the city.

Job market is very good in these cities and also Real Estate market is wonderful in these cities in the future to come.

Article sponsored by Sana Placement Services, YellowHomes.in and OruAcre.com

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