Residential Property Prices Rise 63 percent Across 11 Emerging Cities, Outpacing Major Real Estate Markets

Residential Property Prices Rise 63 percent Across 11 Emerging Cities, Outpacing Major Real Estate Markets

New Delhi, September 29, 2026: India’s residential real estate market is witnessing a broader growth story, with emerging cities increasingly playing a significant role alongside the country’s major metropolitan markets. According to a joint report by the Confederation of Indian Industry (CII) and Knight Frank India, residential property prices across 11 emerging markets increased by 63% between 2021 and 2026, compared with a 42% increase across eight major markets.

The report identifies Bhopal, Bhubaneswar, Chandigarh Tricity, Goa, Indore, Jaipur, Kochi, Lucknow, Nagpur, Visakhapatnam and Coimbatore as emerging residential markets. Between 2016 and 2026, these markets recorded an average Compound Annual Growth Rate (CAGR) of 8% in residential prices, twice the 4% CAGR recorded across the eight major markets.

Mr. Rajni Kant Mishra, Founder & Chairman, Amrawati Group, said, “The growth story of India’s real estate market is no longer limited to the major metropolitan cities. Better infrastructure, stronger connectivity, new employment opportunities and rising economic activity in emerging cities have given fresh momentum to residential demand. The 63% increase in residential prices across these markets between 2021 and 2026 reflects this changing landscape. At the same time, relatively affordable property prices and better lifestyle opportunities are attracting homebuyers. Going forward, emerging cities can become important centres of real estate development and investment in India.”

According to the report, improved infrastructure and connectivity, expanding economic activity, rising consumption and new employment opportunities are among the key factors supporting residential demand in these markets. Residential property prices across these emerging cities currently range from approximately ₹4,500 to ₹13,500 per sq. ft., depending on the market.

The findings highlight the changing dynamics of India’s residential real estate sector, with emerging cities gaining greater importance as residential destinations. As infrastructure improves and economic opportunities expand, these markets are increasingly contributing to the country’s broader real estate growth.