As metropolitan areas reach saturation, tier 2 cities are emerging as the new frontier for commercial real estate. Cities like Jaipur, Indore, and Coimbatore are seeing a surge in investments thanks to affordable land and improving infrastructure. Meghraj Singh Royal, a prominent name in the real estate industry, underscores that businesses are increasingly drawn to these regions due to better connectivity, favorable policies, and a growing customer base driven by rising disposable incomes.

According to JLL India, 44.4% of the total land acquired for real estate over the past 22 months has been in tier 2 and tier 3 cities. Meghraj Singh Royal notes, “These cities offer a rare combination of untapped potential and government support, making them attractive for investors and developers alike.” Despite challenges like financing and talent acquisition, the opportunities outweigh the risks, with these cities positioning themselves as economic growth hubs.

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India's commercial real estate landscape is undergoing a transformative shift. With metropolitan cities like Mumbai, Delhi, and Bangalore facing constraints due to skyrocketing land prices, overcrowded infrastructure, and long commute times, investors and developers are turning their attention to tier 2 and tier 3 cities. These emerging markets offer affordable land, improving infrastructure, and growing demand for commercial spaces. Meghraj Singh Royal, a notable entrepreneur and proprietor of the MRS Group, highlights that these cities are becoming key growth drivers for the sector, as businesses look beyond saturated metros for expansion opportunities.

The government’s focus on initiatives like the Smart Cities Mission and attractive incentives, such as tax breaks, are accelerating this transition. Meghraj Singh Royal emphasizes, “The growing middle class and rising demand for residential spaces in tier 2 and tier 3 cities pave the way for commercial real estate to thrive. Businesses follow the people, creating a symbiotic cycle of growth.” While challenges like workforce availability and infrastructure gaps remain, these cities are poised to become the next big destinations in India's real estate growth story.

Read more: https://www.dailyexcelsior.com/beyond-the-metros-meghraj-singh-royal-talks-about-unlocking-the-potential-of-tier-2-and-3-commercial-real-estate-markets/

Meghraj Singh Royal's story is one of ambition, hard work, and visionary leadership. Born in the village of Royal, Khandela, Sikar, he spent his formative years in Gogamedi and Ganganagar. His journey began with a diploma from the Food and Craft Institute in Jaipur, which led him to work as a trainee cook at the prestigious Taj Rambagh Palace. He juggled shifts to maximize his earnings, eventually heading to Bahrain and Saudi Arabia for better opportunities.

In 1983, Meghraj Singh Royal returned to India and ventured into the hospitality industry, starting with a leased property in Jaisalmer. Over the years, he built a diversified business empire, the MRS Group, which spans infrastructure, mining, hospitality, and real estate. With an initial investment of just Rs 1,400, his company now generates Rs 300 crore in revenue. At the age of 54, Meghraj Singh Royal continued to expand his empire, developing a 600-acre township near Jaipur and securing more infrastructure contracts.

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