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Infrastructure, Digitization and Spiritual Tourism Top Drivers Among 17 emerging real estate hotspots: Colliers India   

Gurugram, June 18, 2024:  As India marches towards becoming the world’s third-largest economy, emerging cities are poised to play a critical role in the nation’s growth trajectory. By 2050, India is expected to have nearly 100 cities with populations exceeding one million, in addition to its eight mega-cities. Key factors such as infrastructure development, digitization, tourism, and changes in the office landscape will drive the next wave of urban growth across these locations. Taking aforementioned factors as primary considerations, Colliers identified and evaluated over 100 such emerging cities to determine their real estate attractiveness and growth potential over the next 5-6 years in its latest report “Equitable Growth and Emerging Real Estate Hotspots.”  

A comprehensive analysis of these cities was done involving assessment of various social, economic, financial, and real estate specific demand & supply side parameters. Colliers conducted a broad-based assessment and developed an objective framework incorporating the above-mentioned parameters to assess their relative degrees of importance and impact on various real estate segments such as office, residential, warehousing, retail, hospitality, and alternatives (data centers, senior living, second homes etc.) in the respective cities.

This detailed analysis aided in identification of 30 potentially high growth cities from the universe of 100+ cities where real estate development is set to strengthen in the medium to long term. Interestingly, 17 of these 30 high-potential cities are expected to witness accelerated real estate development across three or more asset classes. A geographical spread of these 17 high-impact emerging real estate hotspots highlights equitable growth across the Northern, Southern, Western, Eastern, and Central regions of the country. 

High- impact emerging real estate hotspots (Top 17 out of 30 high potential cities in India)

RegionCity
NorthAmritsar, Ayodhya, Jaipur, Kanpur, Lucknow, Varanasi
EastPatna, Puri
WestDwarka, Nagpur, Shirdi, Surat
SouthCoimbatore, Kochi, Tirupati, Visakhapatnam
CentralIndore

Source: Colliers 

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Top 17 cities with high impact segments

 CityOfficeResidentialWarehousingRetailHospitalitySenior LivingData CenterSecond Homes
1AmritsarCheckmark with solid fillCheckmark with solid fillCheckmark with solid fillCheckmark with solid fill
2AyodhyaCheckmark with solid fillCheckmark with solid fillCheckmark with solid fillCheckmark with solid fill
3CoimbatoreCheckmark with solid fillCheckmark with solid fillCheckmark with solid fill
4DwarkaCheckmark with solid fillCheckmark with solid fillCheckmark with solid fillCheckmark with solid fill
5IndoreCheckmark with solid fillCheckmark with solid fillCheckmark with solid fill
6JaipurCheckmark with solid fillCheckmark with solid fillCheckmark with solid fillCheckmark with solid fill
7KanpurCheckmark with solid fillCheckmark with solid fillCheckmark with solid fill
8KochiCheckmark with solid fillCheckmark with solid fillCheckmark with solid fill
9LucknowCheckmark with solid fill