By:  Nikhil Madan, Managing Director, Mahima Group

The Tier II cities are ushering in a new phase of residential development with homebuyers looking a cusp of better infra with a more balanced lifestyle. The Union Budget can now compliment this growth by focusing on improvements in urban infrastructure, connectivity as well as sound policies for upgraded premium housings. Stronger planning and investment will help Tier II cities grow into stable, well-rounded urban centres over the long term. Additionally, rationalisation of taxation is the key pillar which benefits buyers, especially the ones investing for the first time in a home. Overall,  with the right policy push in this budget, tier 2 cities can emerge as India’s next engines of sustainable  residential growth.