Nagpur, Jaipur, Lucknow Emerge as Top Real Estate Markets: Report
January 23rd, 2025: A report by real estate consultancy Colliers ranks Nagpur as the leading emerging city, followed closely by Jaipur and Lucknow. These cities are set to make significant strides in the real estate sector over the next decade.
Real EstateEmerging CitiesNagpurJaipurLucknowReal Estate MumbaiJan 23, 2025
These cities are expected to play a crucial role in the real estate market in the coming years.
The report, titled 'Top 30 Emerging Cities of India,' uses a comprehensive parameter-based analysis matrix to evaluate the growth drivers of these cities.
The matrix considers five key parameters physical infrastructure, social infrastructure, demographic growth, economic development, and real estate dynamics.
Cities with a well-established ecosystem and strong future growth potential, driven by both government and private sector initiatives, scored higher in the assessment.
The report identifies eight micro-markets across 30 cities in India that show significant growth potential.
These micro-markets are Nagpur (Samruddhi Circle), Ahmedabad (Shela), Agra (Shastripuram), Jaipur (Ajmer Road), Lucknow (Raebareli Road), Meerut (Ganga Nagar), Chandigarh (Kharar), and Bhopal (Indus Towne).
Over the past decade, India has seen an unprecedented expansion of its road infrastructure, including expressways, which has improved connectivity and reshaped the real estate landscape.
This infrastructural milestone has fueled urban development, particularly in regions where improved connectivity has unlocked economic and real estate growth.
Swapnil Anil, managing director of Advisory Services at Colliers India, commented, 'The expansion of expressways not only improves commuting but also promotes urban growth.
It supports economic development, encourages the creation of integrated townships and social infrastructure, and boosts tourism.
These factors collectively drive demand for real estate in the region, making it a promising investment opportunity for investors and homebuyers alike.
This is the best time to invest in land within the micro-markets of emerging cities along expressways, with expected returns of up to 5.2X over the next decade.'
Expressways as Growth CatalystsExpressways serve as major catalysts for the economic growth of emerging cities.
The development of expressways, highways, and feeder routes under ambitious initiatives such as the Bharatmala Pariyojana has been pivotal in this transformation.
This growing network has unlocked previously inaccessible or underdeveloped areas, creating significant opportunities for real estate development.
As a result, land prices and demand for residential, commercial, and industrial spaces have surged in these locations.
Expressways such as the Yamuna Expressway, Mumbai-Pune Expressway, and Dwarka Expressway exemplify how improved infrastructure can transform surrounding areas into real estate hotspots.
This trend highlights a broader pattern across India, where the construction of new expressways is directly linked to land price appreciation and urbanisation.
Enhanced accessibility attracts businesses and investments while increasing the appeal of residential and commercial spaces, triggering a ripple effect of development.
Colliers has analyzed eight major expressways, including the Nagpur-Mumbai Expressway (Samruddhi Mahamarg), Ahmedabad-Dholera Expressway, Jaipur-Delhi Expressway, Meerut-Delhi Expressway, Delhi-Chandigarh Expressway, Delhi-Agra (Yamuna Expressway), Bhopal-Indore Expressway, and Lucknow-Agra Expressway (Purvanchal Expressway), along with the cities and their impacted micro-markets.
The operationalisation of the 701 km Samruddhi Mahamarg Expressway has positioned Nagpur at the top of the list among these 30 emerging cities for investment in India.
With an expected return of 5.2x by 2035, Nagpur has become one of the most sought-after investment destinations.
Frequently Asked Questions
What are the top emerging cities in India according to the Colliers report?
According to the Colliers report, the top emerging cities in India are Nagpur, Jaipur, and Lucknow.
What are the key parameters used to evaluate the growth of these emerging cities?
The key parameters used to evaluate the growth of these cities are physical infrastructure, social infrastructure, demographic growth, economic development, and real estate dynamics.
How do expressways impact the real estate market in these cities?
Expressways improve connectivity, promote urban growth, support economic development, and encourage the creation of integrated townships and social infrastructure, thus driving demand for real estate.
Which micro-markets in India show the highest potential for land price growth by 2035?
The micro-markets with the highest potential for land price growth by 2035 are Nagpur (Samruddhi Circle), Ahmedabad (Shela), Agra (Shastripuram), Jaipur (Ajmer Road), Lucknow (Raebareli Road), Meerut (Ganga Nagar), Chandigarh (Kharar), and Bhopal (Indus Towne).
What is the expected return on investment in these emerging micro-markets?
The expected return on investment in these emerging micro-markets is up to 5.2X over the next decade.
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