Nagpur, Jaipur, Lucknow: Top Emerging Cities in India Driven by Expressways
Improved connectivity through expressways has fueled the growth of several Indian cities, with Nagpur, Jaipur, and Lucknow leading the pack. The Mumbai – Nagpur Expressway (Samruddhi Mahamarg) is a key driver of land investment in these regions.
Real EstateExpresswaysUrban DevelopmentNagpurJaipurLucknowReal EstateJan 23, 2025
This transformation has not only improved connectivity but has also reshaped the real estate landscape.
According to a recent study by Colliers, titled 'Top 30 Emerging Cities of India,' Nagpur leads as the top performer among 30 Indian cities, followed closely by Jaipur and Lucknow.
These cities were evaluated based on factors such as infrastructure, demographics, and economic conditions, highlighting India’s efforts to enhance road and highway connectivity.
The Mumbai – Nagpur Expressway (Samruddhi Mahamarg) stands out as the top expressway for land investment, driving substantial growth in these regions.
The development of expressways, highways, and feeder routes under ambitious initiatives like 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.
Key Cities and Micro-Markets
Colliers identified several micro-markets across 30 tier-2 cities in India that exhibit potential land price growth up to 5.2 times by 2035.
These include
- Nagpur (Samruddhi Circle) Current average price of ₹3,300/sq.ft.
is expected to rise to ₹17,213/sq.ft.
by 2035, a growth of 5.2 times.
- Ahmedabad (Shela) Current average price of ₹7,300/sq.ft.
is expected to reach ₹33,000/sq.ft.
by 2035, a growth of 4.5 times.
- Agra (Shastripuram) Current average price of ₹5,160/sq.ft.
is projected to increase to ₹20,772/sq.ft.
by 2035, a growth of 4.0 times.
- Jaipur (Ajmer Road) Current average price of ₹3,500/sq.ft.
is forecasted to rise to ₹11,990/sq.ft.
by 2035, a growth of 3.4 times.
- Lucknow (Raebareli Road) Current average price of ₹3,900/sq.ft.
is expected to reach ₹13,069/sq.ft.
by 2035, a growth of 3.4 times.
- Meerut (Ganga Nagar) Current average price of ₹6,400/sq.ft.
is projected to increase to ₹19,257/sq.ft.
by 2035, a growth of 3.0 times.
- Chandigarh (Kharar) Current average price of ₹4,600/sq.ft.
is expected to rise to ₹12,263/sq.ft.
by 2035, a growth of 2.7 times.
- Bhopal (Indus Towne) Current average price of ₹3,400/sq.ft.
is forecasted to reach ₹8,662/sq.ft.
by 2035, a growth of 2.5 times.
Analysis and Expert Insights
Colliers used a comprehensive parameter-based analysis matrix to evaluate the growth drivers of these emerging cities.
The matrix considered 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 development initiatives from both government and private sectors, scored higher in the assessment.
Swapnil Anil, Managing Director, Advisory Services at Colliers India, said, “The expansion of expressways 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.” Anil also emphasized that this is an ideal time to invest in land within the micro-markets of emerging cities along expressways, with expected returns of up to 5.2 times over the next decade.
Why Expressways Matter
The development of expressways, highways, and feeder routes has been crucial in this transformation.
Expressways like the Yamuna Expressway, Mumbai-Pune Expressway, and Dwarka Expressway have transformed their 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, increasing the appeal of residential and commercial spaces and triggering a ripple effect of development.
Colliers 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, making it a prime location for real estate investment.
Conclusion
The development of expressways has played a crucial role in the growth of these emerging cities.
It remains to be seen whether the land prices in these top markets will grow as projected by the report or if they will surpass these expectations.
However, the current trends and the government’s continued push for infrastructure development suggest a bright future for these regions.
Frequently Asked Questions
What are the top emerging cities in India according to the Colliers report?
The top emerging cities in India, as per the Colliers report, are Nagpur, Jaipur, and Lucknow. These cities have shown significant growth potential due to better infrastructure and connectivity.
Which expressway is leading the land investment in these emerging cities?
The Mumbai – Nagpur Expressway (Samruddhi Mahamarg) is leading the land investment in these emerging cities. It has been a major catalyst for growth in these regions.
What factors were considered in the Colliers report for evaluating the growth of these cities?
The Colliers report evaluated the growth of these cities based on five key parameters: physical infrastructure, social infrastructure, demographic growth, economic development, and real estate dynamics.
What is the expected land price growth in Nagpur's Samruddhi Circle by 2035?
The expected land price growth in Nagpur's Samruddhi Circle by 2035 is from ₹3,300/sq.ft. to ₹17,213/sq.ft., a growth of 5.2 times.
How do expressways contribute to the urban development of cities?
Expressways contribute to the urban development of cities by improving connectivity, attracting businesses and investments, and increasing the appeal of residential and commercial spaces. This leads to a ripple effect of development in the surrounding areas.
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