Chandigarh, October 31 : ASSOCHAM study says city fares well in real estate prices, business environment but lags behind in other parameters necessary for a metro city
Chandigarh comes a close second in real estate prices, financial services and business environment, but lags behind in other five parameters necessary for a metro city, says the ASSOCHAM Eco Pulse Study. The study ranks four tier-II cities — Pune, Ahmedabad, Lucknow and Chandigarh — as the most likely contenders for a metro status after Delhi, Mumbai, Chennai, Kolkata, Bangalore and Hyderabad.
They were assessed on eight parameters necessary for a metro city, such as social infrastructure, infrastructure availability, real estate cost and availability, transportation facility (connectivity), presence of quality educational institutes, employment opportunity, facility of financial services and business environment.
According to the analysis, Pune occupies the first position, though it needs to improve on transportation, social infrastructure and financial services. Ahmedabad is the second city with most potential to be a metro, as it provides good infrastructure facilities and connectivity. The study puts Lucknow in the third place as it needs to pick up on infrastructure, business environment and social infrastructure.
Chandigarh, the smallest of the four in terms of area and population, ranks fourth though it fares well in real estate prices, financial services and business environment. At 9.21 per cent, it is the least employment-generating city among the four emerging metros.
Real estate cost and availability
Chandigarh is considered to be the next emerging real estate market after Pune. With the maximum population among the upcoming cities, the Maharashtra town has outpaced the other three cities on this parameter.
Social infrastructure
Chandigarh ranks third on social infrastructure with 81.9 per cent literacy rate and due to the presence of prominent institutes like Institute of Microbial Technology (IMTECH), Centre for Defence and National Strategic Studies (CDNSS). Ahmedabad occupies the first rank with a literacy rate of 79.89 per cent and high-grade institutes Indian Institute of Management (IIM), National Institute of Design (NID), National Institute of Fashion Technology (NIFT) and Entrepreneurship Development Institute of India (EDII).
Employment
At 9.21 per cent, Chandigarh is the least employment-generating city. The sectors offering maximum employment are IT, banking, insurance and retail, while Pune has the maximum share of 32.74 per cent in the total jobs tracked by ASSOCHAM Placement Parameter for the period January-June 2008.
Presence of quality educational institutes
Chandigarh occupies third position as the city has a university and eight Government colleges, 13 prominent higher learning institutes and one Government recognised resource and development centre while Pune and Luchnow rank first and second.
Infrastructure
Pune notches the top position when it comes to sub-parameters like entertainment avenues, malls and multiplexes and star hotels. Chandigarh is placed third in this category.
Source:www.indianexpress.com