By: Sunil Dahiya, Managing Director, Vigneshwara Developers
I think from a business perspective we must focus on the issue of migration and traveling from city to city which the youth is doing. In today’s time, the youth which is averaging from 25-35 years is the one who is an ambassador of his family.
For instance, a family probably living in Ranchi whose son has done MBBS and moved from city to city. The son’s vision becomes much larger than the horizons of the entire family. So he takes the stories of the cities to his house and explains that there are many more opportunities out there. If say, he has his practice in Gurgaon, so the family in Ranchi with an average budget of 25-30 lakhs, if they invest anywhere around Ranchi, the capital gain of that investment what they would’ve put in Gurgaon through the vision of the son would’ve been much larger as compared to their own vision of investing somewhere nearby.
Today’s youth is becoming a better ambassador of investment for the family and I think family should entrust their complete faith into this youth who is traveling too much and has seen the cities and been exposed to the much larger vistas available to him in cities. Cities are becoming magnets of migration. People are migrating by virtue of good opportunities at all levels, entrepreneur, human resource, jobs and recruitment. When cities attract large number of people, the two things that pick up from there are revenue in the city and real estate.
Real estate, of course, becomes a good capital asset to be acquired and this essentially means that the families back home which are from tier II cities, they have better opportunities of investing in tier 1 cities which are larger magnet for migration. The youth is well read and well informed and has a horizon which is spanning at least 40 years ahead because he sees himself as the inheritor of the investment, so he becomes the custodian and the guardian of the investment. So when he makes a decision, it is well informed.
Today, the opportunities and the money are coming in from tier II cities to tier 1 cities by virtue of this conduit. And that is where we see emerging markets like Noida, Noida Extension, Dharuhera and Bhiwadi where multicity investment has made inroads. We have people coming from South India coming to invest in North India. That was primarily because the vision and the horizon was taken over by the youth.
