Nagpur, Jaipur, Lucknow Lead Top Emerging Cities for Real Estate Investment
A recent report by real estate consultant Colliers identifies Nagpur, Jaipur, and Lucknow as top emerging cities in India's real estate market, driven by robust infrastructure and growth potential.
Real EstateEmerging CitiesInfrastructureInvestmentsLand PricesReal Estate NewsJan 23, 2025
These cities are expected to establish a strong presence in the coming years, driven by comprehensive development initiatives from both the government and private sectors.
The report, titled 'Top 30 emerging cities of India,' evaluated these cities using a detailed parameter-based analysis matrix that considered physical infrastructure, social infrastructure, demographic growth, economic development, and real estate dynamics.
Cities with a well-established ecosystem and strong future growth potential achieved higher scores in the assessment.
The report highlights that over the past decade, India has seen an unprecedented expansion of its road infrastructure, including expressways, which has significantly improved connectivity and reshaped the real estate landscape.
This infrastructural milestone has fueled urban development, particularly in regions where improved connectivity has unlocked the potential for economic and real estate growth of cities.
Nagpur (Samruddhi Circle), Ahmedabad (Shela), Agra (Shastripuram), Jaipur (Ajmer Road), Lucknow (Raebareli Road), Meerut (Ganga Nagar), Chandigarh (Kharar), and Bhopal (Indus Towne) are the eight emerging micro-markets across 30 tier-2 cities in India that show potential land price growth up to 5.2x by 2035.
Swapnil Anil, Managing Director, Advisory Services, Colliers India, said, “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 Catalysts
The report emphasizes that expressways serve as major catalysts for the economic growth of emerging cities.
The development of expressways, highways, and feeder routes under ambitious national 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 urbanization.
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).
This analysis reveals that the operationalization 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.
About Colliers India
Colliers is a leading real estate services and investment firm, operating in India with a strong focus on advisory services.
With a team of experienced professionals, Colliers India provides comprehensive solutions to clients, helping them navigate the dynamic real estate market and make informed decisions.
Frequently Asked Questions
Which cities are identified as the top emerging cities for real estate investment in India?
According to Colliers' report, Nagpur, Jaipur, and Lucknow are identified as the top emerging cities for real estate investment in India.
What are the key parameters used to evaluate the growth potential of emerging cities?
The key parameters used to evaluate the growth potential of emerging cities include physical infrastructure, social infrastructure, demographic growth, economic development, and real estate dynamics.
How do expressways contribute to the growth of emerging cities?
Expressways serve as major catalysts for economic growth by improving connectivity, supporting economic development, encouraging integrated townships and social infrastructure, and boosting tourism.
What is the expected return on investment for land in the micro-markets of emerging cities along expressways?
The report projects an expected return of up to 5.2X over the next decade for land in the micro-markets of emerging cities along expressways.
Which expressways are expected to have a significant impact on the real estate market in emerging cities?
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) are expected to have a significant impact on the real estate market in emerging cities.
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