New Delhi, Jan 23 (PTI) Nagpur, Jaipur and Lucknow are the top three emerging cities in India based on four parameters, including physical and social infrastructure as well as real estate scenario, according to a report by Colliers.

Real estate consultant Colliers India has conducted a comprehensive parameter-based analysis matrix to evaluate the growth drivers of emerging cities. This matrix was developed using four key parameters: physical infrastructure; social infrastructure; demographic growth & economic development; and real estate dynamics.

The cities with a well-established ecosystem and strong future growth potential, driven by development initiatives from both government and private sectors, achieved higher scores in the assessment.

Among the emerging cities assessment, Nagpur emerged as the top performer, followed by Jaipur and Lucknow, all three anticipated to establish a strong presence in India’s real estate market in the coming years.

Nagpur, known as the “Orange City,” is a rapidly developing urban centre in Maharashtra.

Key projects like MIHAN, Samruddhi Mahamarg, and Nagpur Metro are enhancing connectivity and economic growth, the report said.

Nagpur city is becoming a significant hub for residential, commercial, and industrial investments, attracting attention from across India.

Jaipur, the capital of Rajasthan and famously known as the Pink City, is one of the earliest planned cities in India.

“Jaipur’s economy, driven by tourism, gemstone cutting, jewelery manufacturing, luxury textiles, and the IT sector, is supported by its growing infrastructure as it emerges as a key manufacturing and IT hub in India,” the consultant said.

Swapnil Anil, Managing Director, Advisory Services, Colliers India, said the expansion of expressways not only improves commuting but also promotes urban growth.

“It supports economic development, encourages the creation of integrated townships and social infrastructure, and boosts tourism. These factors collectively drive demand for real estate in the region, making it a promising investment opportunity for investors and homebuyers alike,” he said.

Swapnil said 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.