Top 3 Emerging Cities in India: A Real Estate Revolution
India's real estate market is experiencing a significant transformation, driven by the development of expressways and highways. Colliers' recent report highlights the top 3 emerging cities in India: Nagpur, Jaipur, and Lucknow, which are poised for substa
Real EstateEmerging CitiesExpresswaysInfrastructureEconomic GrowthReal Estate NewsJan 23, 2025
This transformation has not only improved connectivity but has also reshaped the country's real estate landscape.
The new expressways and highways have fueled urban development, opening up previously inaccessible or underdeveloped areas for economic and real estate growth.
Colliers, a leading global diversified professional services company, has released its latest report, 'Top 30 emerging cities of India.' The report identifies 8 micro-markets across 30 cities in India.
Colliers conducted a comprehensive parameter-based analysis matrix to evaluate the growth drivers of these emerging cities.
The matrix was developed using five key parameters physical infrastructure, social infrastructure, demographic growth, economic development, and real estate dynamics.
Cities that have a strong ecosystem and future growth potential, driven by development initiatives from both the government and private sectors, achieved higher scores in the assessment.
The analysis highlights the next set of 30 cities with significant growth potential beyond India's well-established cities.
Among the emerging cities, Nagpur, Jaipur, and Lucknow have emerged as the top performers, anticipated to establish a strong presence in India’s real estate and market in the coming years.
Expressways as Growth Catalysts
Expressways 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.
For example, expressways like 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.
Key Expressways and Their Impact
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 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.
Jaipur and Lucknow, the other two top performers, have also shown significant growth potential.
The Jaipur-Delhi Expressway and Lucknow-Agra Expressway (Purvanchal Expressway) have played a crucial role in enhancing connectivity and driving real estate development in these cities.
About Colliers
Colliers (NASDAQ, TSX CIGI) is a leading global diversified professional services company, specializing in commercial real estate services, engineering consultancy, and investment management.
With operations in 70 countries, our 22,000 enterprising professionals provide exceptional service and expert advice to clients.
For nearly 30 years, our experienced leadership – with substantial inside ownership – has consistently delivered approximately 20% compound annual investment returns for shareholders.
With annual revenues exceeding $4.5 billion and $99 billion of assets under management, Colliers maximizes the potential of property, infrastructure, and real assets to accelerate the success of our clients, investors, and people.
Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
Frequently Asked Questions
What are the top 3 emerging cities in India according to Colliers' report?
According to Colliers' report, the top 3 emerging cities in India are Nagpur, Jaipur, and Lucknow.
What are the key parameters used by Colliers to evaluate the growth drivers of emerging cities?
Colliers used five key parameters to evaluate the growth drivers of emerging cities: physical infrastructure, social infrastructure, demographic growth, economic development, and real estate dynamics.
How do expressways contribute to the economic growth of emerging cities?
Expressways serve as major catalysts for economic growth by improving connectivity, unlocking previously inaccessible or underdeveloped areas, and creating significant opportunities for real estate development.
What is the expected return on investment for Nagpur by 2035?
The expected return on investment for Nagpur by 2035 is 5.2x, making it one of the most sought-after investment destinations in India.
What is the significance of the Samruddhi Mahamarg Expressway in Nagpur's growth?
The operationalization of the 701 km Samruddhi Mahamarg Expressway has positioned Nagpur at the top of the list among emerging cities for investment in India, significantly boosting its real estate and economic growth potential.
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