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Are you planning for move? You might need to research for the new city. In this article, you will learn about the 10 fastest growing cities in India that you can consider for living.
Last year, Oxford conducted a survey on the fastest-growing cities of the world and it surprised many when the top 10 were from India. India has many cities bubbling with exciting prospects. Surat with its diamond and textile industry, while Chennai, Bangalore, and Hyderabad as the hub for IT companies, have brought something unique to the plate. If you are planning to move to these 10 cities, then here are all the details you need.
List of 10 Fastest Growing Cities in India
Bengaluru has become the technology capital of India and has always been branded as the Silicon Valley of India. This hub for the software industry has been attracting many software engineers among others and is supposed to reach the target GDP of $ 283.3 billion by the year 2035.
This city is home to several big names such as Cisco, Goldman Sachs, Tata, Infosys, and Wipro. This is the operations centre of most of these companies among others. It has gradually become a hub for start-ups and has attracted annual leverage of US $4 billion in just the last three years for start-up investments. This city has also become a center for electronics-related industries, machine tools, defence, aerospace, and biotech in the country.
The booming retail market is another advantage to the city. In recent years it has seen a high growth rate in the field of automotive, textiles, construction as well as healthcare. Altogether, compared to other metropolitan cities the cost of living of this city is also quite affordable.
Even if the factors that affect the cost of living in Bangalore depend on the way of living. The main part of the expense that affects the cost of living here is the accommodation. You can find great localities for housing and accommodation in Bangalore. Even the area matters in determining the cost of living here.
A bachelor or student, who is looking for PGs in Bangalore can cost them around 5k to 10k with the mess facilities. If you are planning to go for 1BHK, it can cost you between 8k to 10k in areas like Nagawara, Kengeri, Hebbal, and other places. As mentioned earlier, the area determines the cost of accommodation in Bangalore.
For couples and families, a 2BHK may cost you around 12k to 15k in some areas. In places near tech parks, the luxurious options may cost you 5k to 5 lakhs. In areas such as MG Road and Koramangala for 1 BHK, you might have to pay between 10k to 23k.
Before you decide on a place, weigh your options properly and choose the place wisely so that, you can save on your expenses. Also, check your budget before you decide to choose rental flats or PG.
Hyderabad, just like Bangalore has positioned itself as one of the fastest-growing cities in India. It has grown into a major entrepreneurial and technology hub. The city is home to a major technological township, known as the HITECH city, also India’s largest start-up ecosystem. The city houses more than 1500 IT companies such as Infosys, Google, Yahoo, TCS, Microsoft, Apple, etc., and gives jobs to more than a million people.
Apart from being the city of pearls, it also has key industries that include biopharmaceuticals. Due to all these reasons, it has been attracting many people to shift to Hyderabad. Finding a job in the city of Nawabs may need a bit of research. The areas near the HITECH city allow you to commute easily and thus, people working in Gachibowli, Cyber City, and Madhapur prefer to stay nearby.
It is predicted that most people spend one-third of their total salary on accommodation expenses. Like any other city, the price of accommodation greatly depends on the area you choose. For a decent PG accommodation in Hyderabad, you can look in the places like LB Nagar, Uppal, Himayathnagar, where it may cost you between 4k to 7k. For 1 BHK flats, you may have to pay around 5k to 8k and for 2BHK, the cost may come up to 15k.
If you want places near Madhapur and Jubilee Hills, the rent for 1BHK may go up to 23k while for 2BHK you may have to pay 30k to 35k.
Chennai, also known as the Detroit of India, Chennai is ranked as one of the safest cities in India. It is the third most visited city in India and attracts a maximum number of tourists. Not only that, it is known for its stupendous hospitality. Other than tourists, students and workers come here to find better education and job opportunities. The reason behind this growth is not just the affordable living cost but also multiple companies and brilliant infrastructures.
This city is house to more than one-third of the automobile industry of India. With so many options available Chennai makes to the list of top 10 fastest growing cities in India. Chennai has a comparatively affordable cost of living compared to other metropolitan cities.
The cost of living of a city can be calculated by adding up the accommodation expenses, transportation, utility, entertainment expenses, and food expenses. If you plan these expenses properly then one can settle down in a city comfortably.
Accommodation taking up most of the expense is an unavoidable expenditure. Chennai is full of affordable stay options, only you need to do is search properly. Moving to Chennai, if you are looking for PG then you will get charged approx. 5k in the OMR area. For a 1BHK flat, you may have to pay up to 8k and for 2BHK the price may reach up to 20k.
If you are looking for 1BHK flats in posh areas like Anna Nagar, it may cost you up to 18k. here, the cost of a 2BHK flat may go up to 25k. Again, the price of the flats may change drastically depending upon the location. You can select a place according to your budget or else pick a place close to your workplace so that, you can save on the transportation expenses and save time. Chennai is one of those cities where the cost of living is less but the standard of living is high.
Another city making it to the top 10 fastest growing cities in India is Vijayawada. It has been a melting pot of traditions and culture with people arriving from the other cities in search of good educational facilities and better job opportunities. being one of the rapidly growing markets in India, this city is often described as the educational, political, media, and most importantly commercial capital of Andhra Pradesh. According to a study by Oxford, the GDP of this city is supposed to grow up to $21 billion by 2035.
Vijayawada has been an exporting and trading hub for industrial as well as agricultural goods. For companies like IOC, HPCL, and BPCL, Vijayawada is an area for bottling, storage, and transportation of petroleum products. Now it has started attracting IT companies like Wipro, and HCL technologies. This growth in job opportunities has been alluring many people around the country and this has led to a rise in real estate prices in Vijayawada.
For a couple or small family, the cost of living in Vijayawada will come up to 20k whereas, for the bachelor, it may come down to 9k. the average rent of the flat or a house can cost you 10k a month. The rentals greatly fluctuate according to the place you decide to rent a property in Vijayawada. For a family of four, the monthly cost of living in Vijayawada may go up to 77k. compared to Hyderabad, the cost of the living index here is 13.03% lower and the rent is also 24.26 % lower.
Good roads, beautiful cityscape, and a lot of opportunities make it an appealing spot for a shift. You can find good accommodation, tasty food, and better career growth here and that makes it one of the best cities to settle in.
A beautiful city situated on the banks of the river Yamuna, Agra is the fourth most populous city of Uttar Pradesh. Being an eminent part of the Golden triangle travel circuit, it has Taj Mahal and Fatehpur Sikri making it one of the major tourist attraction spots in India.
It has four main pillars to make the economy stand on, which are handicrafts, manufacturing, agriculture, and tourism. It also has iron foundries and leather goods that form the flourishing small-scale industry sector.
With tourism as the backbone of this city, it has become one of the top 10 fastest-growing cities in India. The cost of living in Agra is quite cheap compared to the rest of the metropolitan cities. The average cost of living may go up to approx. 18k. A one-bedroom in Agra can cost you an average of 7k. tourist who has visited this city has found it very welcoming and cheaper than the rest places. The beauty and prospects attract people to shift to Agra and be a part of its brilliant future.
6. Tiruchirappalli or Trichy
This city has some great title attached to it which makes one of the best cities to settle in. Trichy is a major tier II city of India and has been credited as the best liveable city and one of the cleanest cities in Tamil Nadu. It is also considered the fifth safest city for women in India.
Apart from all that, Trichy is home to some of the important educational centers of the country, such as the National Institute of Technology, the Indian Institute of Information and Technology, etc. It also has industrial units of Bharat Heavy Electricals Limited, Heavy Alloy Penetrator Project, and other energy equipment manufacturing units that have got it the title of Energy Equipment and Fabrication Capital of India.
This city in Tamil Nadu is home to many companies that deal in engineering and fabrication equipment. According to a report the city is expected to reach the target GDP of $19 billion concluding with the year 2018’s GDP that stands at $4.9 billion.
The booming industrial growth is attracting many people to enjoy the lifestyle of this simple city. Even the enigmatic culture has fulfilled the void created by the lack of infrastructure to attract tourism. The cost of living in Tiruchirapally is quite cheap and a 1BHK in the downtown area will cost you 8k and outside the city, the 1BHK apartment may cost you around 3k-4k. even though the rentals give you a lower cost of living, but it is sure to provide you with an ample number of opportunities and a clean surrounding to stay in.
Considered as the13th largest city by population in India, it is one of the fastest-growing cities in India with an average growth in GDP of 8.4%. Being a major political and commercial center, it is identified to be the best city in the healthcare, public transport facility, greenery, and liveability category. This city has been declared as one of the safest cities in India and the 20th cleanest city in the western zone. With significant advancement in the development of infrastructure, this city has improved the standard of living of many people.
Nagpur has welcomed many people migrating to the city thus, allowing a growth spurt in the real estate market. There are good real estate projects that have been issued to accommodate migrants and provide them, with comfortable and spacious homes in well-planned communities. Nagpur was the country’s first city to introduce a fleet of 200 electrically driven vehicles that included buses, auto, rickshaws, and taxis.
Considered as a competitive smart city it is being envisioned as a future tier II city with strong potential for growth. If you are planning to shift to Nagpur, then you need to research first which place will benefit you the most.
Famous for its oranges, Nagpur is a geographical center of the country. It is well-connected with major cities of the country by both rail and road giving this city a locational advantage. Also known for its mining industry it has many government-owned mining companies that have their headquarters here. Nagpur has stolen the limelight due to its potential in the field of pharmaceuticals and logistics. All of this and more providing a great amount of employment to migrants.
Not just the job opportunities but Nagpur is a major education center of Central India. you can find here Symbiosis international university, G.S. College of Commerce and Economics, National Civil Defence College, National Environmental Engineering Research Institute among others.
Even after such rapid development in the infrastructure, there is a growth in the demand for real estate but not in the prices of the properties. In Nagpur, the properties are available at affordable rates. The average cost of living in Nagpur is low but the rentals may depend upon the area. Central areas such as Mominpura, Mahal, Central Avenue may cost you 5k a month for a single room. In posh areas like Ambazari, Civil lines, Law Square, Dharampeth, Sadar, Sitabudli you may find rentals going up to 8k a month.
House of Reserve Bank of India, this city is home to many bankers. Apart from that workers in the mining industry find good pay in the city. Even if it is emerging as a future metropolis, the cost of living is lower than others.
Surat, with the large seaport, has risen to become the economic and commercial center of Gujarat. According to the Oxford Economic list, Surat has been ranked one with a growth rate of 9%. Economic Times has stated the city to be one of the World’s fastest-growing cities till the year 2035 by touching down a figure of $126.8 billion. Situated on the banks of river Tapti, Surat is the ninth largest urban agglomeration and 8th largest city in India. It has an annual GDP growth rate of 11.5%. Awarded as the best city by the Annual Survey of India’s City Systems, Surat was the first smart IT city in the country.
Famous for its textile and diamond industries this has a large retail market for accessories and apparel. It also has engineering plants like Larsen and Toubro, RIL, and Essar. After the diamond and textile industries, Surat has become a hub for many MNCs and domestic IT companies. Even Microsoft CityNext constitutes the smart city. Under the smart city program, IBM chose Surat to handle challenges such as disaster management, waste management, and citizen services.
With so much happening in the city, you will find a prospering real estate market in the area. Even after having an industrial backdrop, Surat is considered to be quite a hygienic city in India.
Some of the luxurious projects with costly flats can be found in areas such as Piplod, Citylight, Vesu, Ghod Dhod road, and Althan. If you have a tight budget then you can opt for areas like Adajan, Pal, Parvat Patiya, Godadara, etc. Here you can even plan on buying your own home. A 1BHK in the downtown area will cost you 10k and outside the city, the 1BHK apartment may cost you around 8k. For a 3BHK property in Parley Point, you may have to pay an average rent of 26k.
4th largest city of Gujrat, Rajkot is the second cleanest city in India. Located on the banks of rivers Aji and Nyari, Rajkot is the 35th largest metropolitan city. Through large and small-scale industries, it contributes to the economy of the country. The city has received the aid of 280 million from the World Bank for the development of its infrastructure. It has also received 250 million to rebuild the bridge of Kaiser-e-Hind. Real estate has been a key contributor to the development of Rajkot in terms of infrastructure and economy. You can find multiple high-rise buildings adorning the city. Some of them are Atlantis Flats, Kings Plaza, and High Street.
New job prospects are attracting many migrants from different parts of the country. You can find some great properties in the city. Adajan is considered the best residential area by many. With all the amenities nearby, it is a very clean and calm locality. Apart from this, you can find a well-earning neighborhood in Mahavir Park, Paras Society, Kotecha Nagar, Neels’ City Bungalow, and others.
A 1BHK Apartment in the downtown area will cost around an average of 9k, whereas, outside the city, it may cost you around 5k. The cost of living in Rajkot not high but still is considered as one of the fastest-growing cities in India.
Also known as the knitwear capital of India, it accounts for exporting around 90% of India’s cotton knitwear. This way it contributes to bringing in a huge amount of foreign exchange to the country. There are around 10,000 garment manufacturing industries here, and they provide daily work to around 600,000 workers. The city provides work to many people with an average salary of 9000 a month.
Nethaji Apparel Park, SIDCO Industrial Estate, J. S. Apparel Park, and others have been established to support the textile industry. NAP alone provides jobs to 15,000 people generating an export revenue of Rs.15 billion. Apart from textiles, Tiruppur is famous for producing Copper, Brass, Aluminum utensils.
Some of the localities with upcoming real estate projects are Udumalaipet, Uttukkuli, Dharapuram, Palladam, and others. They all have certain plus points attached to each one of them. Avinashi has fine schools and hotels, while Palladam is the fastest growing suburb with emerging marketplaces and factories.
Here, you can get a 1BHK apartment for 6k and a 3BHK for an average rental of 23k in an area like Palladam.
These 10 cities have come a long way to achieve the title of fastest-growing cities in India. They have their share of problems but one thing that is common in all of them being a clean and safe city. Without these attributes, they may have not made it to the list even after a great GDP. If you planning to move to these cities, or invest in one then do thorough research, compare pros and cons before deciding on anyone. Before you call your packers and movers make sure you know enough about the cities.