Stories
Emerging Cities Outpace Metros: Home Prices Soar 63% Since 2021, Says CII-Knight Frank
C
CNBC TV18•21-09-2026, 08:50
Emerging Cities Outpace Metros: Home Prices Soar 63% Since 2021, Says CII-Knight Frank
- •Residential property prices in 11 emerging Indian cities surged by 63% between 2021 and 2026, significantly outperforming the 42% increase in the top eight metropolitan cities.
- •The CII-Knight Frank report, "India’s Next Real Estate Markets," identifies Bhopal, Bhubaneswar, Chandigarh Tricity, Goa, Indore, Jaipur, Kochi, Lucknow, Nagpur, Visakhapatnam, and Coimbatore as these high-growth emerging cities.
- •Beyond residential, these Tier-2 and Tier-3 cities are also seeing growth in warehousing and retail, with 36 million sq ft of organized shopping-center stock in 24 Tier-2 cities by 2025.
- •Key drivers for this growth include infrastructure development, employment generation, enterprise activity, improved connectivity, and a growing MSME ecosystem.
- •The report projects India's real estate sector output to reach $5.8 trillion by 2047, with Tier-2 and Tier-3 cities contributing 25-30%, emphasizing the need for sustained enterprise and employment.
Key Questions Answered
Residential property prices across 11 emerging Indian cities increased by 63% between 2021 and 2026, significantly outpacing the 42% growth recorded in the country's top eight metropolitan cities.
The report identified Bhopal, Bhubaneswar, Chandigarh Tricity, Goa, Indore, Jaipur, Kochi, Lucknow, Nagpur, Visakhapatnam, and Coimbatore as the 11 key emerging real estate markets.
India's total real estate output is projected to reach $5.8 trillion by 2047, with Tier-2 and Tier-3 cities estimated to contribute between 25% and 30% of that output.
