Mumbai: Amid an unprecedented expansion of road infrastructure, including expressways, India now has 30 cities with significant growth potential beyond well-established locations that show land price growth of up to 5.2 times by 2035, a report showed on Thursday.
Led by Nagpur and followed by Jaipur and Lucknow, these three emerging cities are anticipated to establish a strong presence in India’s real estate market in the coming years, according to the report by Colliers.
The analysis revealed that 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 the country.
Nagpur (Samruddhi Circle), Ahmedabad (Shela), Agra (Shastripuram), Jaipur (Ajmer Road), Lucknow (Raebareli Road), Meerut (Ganga Nagar), Chandigarh (Kharar) and Bhopal (Indus Towne) are eight emerging micro-markets across 30 tier-2 cities in India that show potential land price growth up to 5.2x by 2035.
“The expansion of expressways not only improves commuting but also promotes urban growth. 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,” said Swapnil Anil, Managing Director, Advisory Services, Colliers India.
Colliers conducted a comprehensive parameter-based analysis matrix to evaluate the growth drivers of emerging cities. This matrix was developed using five key parameters: physical infrastructure, social infrastructure, demographic growth, economic development, and real estate dynamics.
The development of expressways, highways, and feeder routes under ambitious initiatives such as the Bharatmala Pariyojana has been pivotal in this transformation.
Expressways like the Yamuna Expressway, Mumbai-Pune Expressway, and Dwarka Expressway exemplify how improved infrastructure can transform surrounding areas into real estate hotspots, said the report.
Enhanced accessibility attracts businesses and investments while increasing the appeal of residential and commercial spaces, triggering a ripple effect of development, it added.
(IANS)
