Colliers identifies 17 emerging real estate hotspots across India

India marches towards becoming the world's third-largest economy
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.

“Smaller towns are emerging as dynamic contributors to India's economy, driven by improved infrastructure, affordable real estate, skilled talent, and government initiatives. This growth is set to propel the real estate sector to an estimated USD 1 trillion by 2030 and potentially USD 5 trillion, a 14-16% share in GDP by 2050. Significant momentum is expected across residential, commercial, retail, hospitality, and industrial segments. Additionally alternate asset classes such as data centers, senior living, and second homes are also poised for significant activity in these emerging real estate hotspots.” said Badal Yagnik, Chief Executive Officer, Colliers India.
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