Bengaluru pips Hyderabad to become most dynamic city

"As the Silicon Valley of India, Bengaluru has continued to witness much traction in its real estate sector over the years."

Bengaluru is the most dynamic city among 131 major established and emerging business hubs globally, according to the sixth City Momentum Index published on Tuesday by JLL, the American professional services and investment management company specialising in real estate. 

Four other Indian cities were in the top 10: Hyderabad 2nd, Delhi 4th, Pune 5th and Chennai 7th. Ranked 15th, Kolkata is the sixth Indian city in the top 20. In all, the Asia Pacific accounts for 19 of the top 20 cities. 

In a press release, JLL said the rankings highlight and showcase the Asia Pacific region’s continued “rapid urbanisation and strong economic growth”. 

Hyderabad had topped the 2018 edition of the City Momentum Edition, followed by Bengaluru (2nd), Pune (4th), Kolkata (5th) and Delhi (8th). 

Tracking a range of socio-economic and commercial real estate indicators to identify attributes for success over the near term, the index focuses on short-term momentum over a three-year horizon. The rankings identify the urban economies and real estate markets which are currently undergoing significant rapid growth. 

“As the Silicon Valley of India, Bengaluru has continued to witness much traction in its real estate sector over the years. Backed by a strong commercial sector, the city’s retail, hospitality and residential sectors have also gained prominence with the city being recognised as the third largest hospitality market and the leading retail market in India,” said Ramesh Nair, CEO and Country Head, JLL India. 

He continued: "Some of India’s fastest-growing cities have been successful in recent years in drawing high levels of foreign direct investment with structural reforms also encouraging greater interest from foreign real estate investors who are seeking to tap into the country’s favourable growth dynamics. After the implementation of landmark policy reforms such as RERA and GST, coupled with a focus on improving infrastructure and improving ease of doing business, the government’s reforms-driven agenda and measures are expected to bring in more transparency in the real estate sector and give a strong impetus to the sector." 

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