Archive · 19 Sep 2026
Smaller Cities’ Housing Prices Outpace Major Markets Since 2021
A report studied homes in 11 smaller Indian cities.
It found that home prices in those places rose faster than in India’s biggest real estate markets.
Prices in the 11 cities increased by 63% between 2021 and 2026.
Prices in the eight major markets increased by 42% during the same period.
The smaller markets include cities such as Jaipur, Goa, Kochi and Indore.
Their average yearly growth from 2016 to 2026 is expected to be 8%, compared with 4% in the major markets.
The report says better infrastructure and transportation are helping these cities grow.
It also says jobs, businesses, population growth and consumer spending can make their housing markets stronger.
Housing prices across 11 emerging Indian cities rose an average of 63% between 2021 and 2026.
The 11 markets outperformed India’s eight major real estate markets, where prices increased 42% over the same period.
The emerging markets are Bhopal, Bhubaneswar, Chandigarh Tricity, Goa, Indore, Jaipur, Kochi, Lucknow, Nagpur, Visakhapatnam and Coimbatore.
Average residential price growth from 2016 to 2026 is projected at 8% annually in the 11 markets, compared with 4% in the top eight cities.
CII and Knight Frank India attributed the momentum to infrastructure, connectivity, economic activity, employment, population growth and consumption.
- Who
- The Confederation of Indian Industry and Knight Frank India released the report, which examines 11 emerging Indian real estate markets.
- What
- The report found that residential prices in 11 smaller cities rose faster than prices in India’s eight major markets.
- When
- The report was released on September 18; it compares price growth from 2021 to 2026 and annual growth projections from 2016 to 2026.
- Where
- The markets are Bhopal, Bhubaneswar, Chandigarh Tricity, Goa, Indore, Jaipur, Kochi, Lucknow, Nagpur, Visakhapatnam and Coimbatore, compared with eight major Indian markets.
- Why
- The report links the growth to improving infrastructure, connectivity, economic activity, employment, population growth, consumption and urban capacity.
- Report
- India’s Next Real Estate Markets
- Emerging markets studied
- 11
- Price growth, 2021–2026
- 63% across the 11 emerging markets
- Top-eight-market growth, 2021–2026
- 42%
- Average annual growth, 2016–2026
- 8% in the 11 emerging markets versus 4% in the top eight markets
- Average prices
- Rs 4,500 to Rs 13,500 per square foot in the 11 emerging markets
- Top eight markets
- Mumbai, Bengaluru, Delhi-NCR, Hyderabad, Chennai, Pune, Ahmedabad and Kolkata
