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Table of Contents

Introduction 03

Selection Methodology 03

Growth Drivers of Tier 2 Cities 04

Tier 1 Vs Tier 2 Cities 04

Impact of Covid-19 on Real Estate in Tier-2 Cities 05

Tier 2 Cities at a Glance

l Bhubaneswar 06

l Coimbatore 08

l Indore 10

l Jaipur 12

l Nagpur 14

Upcoming Development Projects 16


India’s Tier II Cities: Emerging Real Estate Growth Engines

Introduction
With its rapid growth and evolving urbanisation, improving municipal and civic response times in
India needs new megacities. As the urban sprawl our tier 2 cities will attract economic and industrial
increases and burdens the infrastructure in tier 1 activity.
or metro cities, the creation of new, large urban
centres has attained critical importance. Post As per the 2011 Census, India had 46 cities
pandemic, the need to make tier 2 cities more with more than a million population. Typically
sustainable and resilient has become imperative. the Indian cities of Bengaluru, Chennai, Delhi
NCR, Hyderabad, Kolkata, Mumbai and Pune
Decluttering tier 1 cities by creating new economic are considered as Tier 1 cities by most people
engines of growth is already underway through and especially by businesses as these attract the
various central and state government initiatives, bulk of all investments and generate the highest
such as AMRUT (Atal Mission for Rejuvenation economic activity and employment.
and Urban Transformation) and the Smart
Cities Mission. Upgrading the infrastructure and For this report, we have considered the top 5 non-
tier 1 cities based on the following parameters:

Top Tier 2 Cities Emerging as Selection Methodology


Prime Residential Markets n Top 5 cities in property searches (demand) and
listings (supply) on the Magicbricks website
Presence of international connectivity and/or
n
metro rail network
Proper urban planning with wide roads,
n
greenery, social and retail infrastructure
Good connectivity with metro cities
n
l Bhubaneswar – Kolkata
l Coimbatore –Chennai
l Indore – Ahmedabad
l Jaipur – Delhi
l Nagpur – Hyderabad and Pune
Emerging growth potential in sectors such as
n
IT, engineering, automobile, medical, BFSI etc.

Note: Map not to scale

02
India’s Tier II Cities: Emerging Real Estate Growth Engines

Growth Drivers of Tier 2 Cities

Government initiatives Ease of doing business Real estate growth spurred


such as AMRUT and the and improved quality by reverse migration of
Smart Cities Mission of life workforce

Multinational Availability of land for real Setting up of industrial


companies expanding estate and infrastructure commercial and
operations development educational institutions

Tier 1 Vs Tier 2 Cities


While tier 1 cities are densely populated, tier 2 cities have a less dense fabric and offer scope for
growth. Over the past few years, tier 2 cities have seen swift development and are now competing with
tier 1 cities in terms of infrastructure, quality of life, growth, etc.

INFRASTRUCTURE EDUCATION QUALITY OF LIFE GROWTH


POTENTIAL
Infrastructure Higher availability Less pollution, more Higher growth
development at par of educational open space and potential and
with tier 1 cities institutions lower cost of living scope for
development

Several leading institutions such as AIIMS, IITs and IIMs are located in tier 2 cities such as Bhopal,
n

Indore, Bhubaneswar, Jodhpur, Patna, Raipur, etc. Further, the central government has been regularly
announcing the setting up of new or upgradation of existing institutions in their annual budget for the
past few years to boost the urbanization of tier 2 cities.
Many tier 2 cities offer higher living standards compared to tier 1 cities. For example, Indore boasts
n
of a robust waste management system and has been voted the cleanest city five times in a row by
Swachh Survekshan, a survey conducted by the Ministry of Housing and Urban Affairs.

04
India’s Tier II Cities: Emerging Real Estate Growth Engines

Impact of Covid-19 on Real Estate in Tier 2 Cities

Whilst the outbreak of the Covid-19 pandemic infrastructure, which is finding appeal with many
employees who were working in tier 1 cities and
has had an adverse impact on real estate in are unhappy with these issues.The future growth
every part of the country, an interesting trend has potential of these emerging cities is also attracting
emerged in tier 2 cities. There has been a shift in homebuyers and investors.
homebuyers’ preference for tier 2 locations. The
work from home phenomenon triggered a wave With a sizeable section of the workforce moving
of reverse migration as professionals returned to tier 2 cities during the pandemic, several
to their home towns. Affordable prices and companies are expanding their operations
availability of spacious residential units has been to these locations. Tier 2 cities offer multiple
another incentive for homebuyers. advantages such as lower operational costs, lesser
salary expectations and availability of talent pool.
Tier 2 cities have less traffic congestions, less These factors have resulted in a higher rate of job
commuting times and improving physical creation in tier 2 cities post pandemic.

Growing Footprint of MNCs in Tier 2 Cities

Company Bhubaneswar Coimbatore Indore Jaipur Nagpur

HCL
Infosys
INDIAN MNC

L&T
Mindtree
TCS
Tech Mahindra
Wipro
Accenture
Capgemini
Cognizant
FOREIGN MNC

Deloitte
Deutsche Bank
Ericsson
IBM
KPMG
PwC          

Existing Proposed Source: Magicbricks Research

05
India’s Tier II Cities: Emerging Real Estate Growth Engines

Bhubaneswar
Strategically located and well connected through
air, rail, road, and ports, Bhubaneswar has gained
traction after being ranked first in the Smart Cities
Mission project. While the old city is known as
a temple town with its numerous temples, the
modern counterpart is a planned development,
designed by renowned urban planner Otto
Konigsberger.
Bhubaneswar is the only tier 2 city to host
India’s top five IT MNCs. It also holds the
distinction of being one of the four notified IT
Investment Regions. Bhubaneswar’s proposal to
be designated a UNESCO World Heritage City
is under consideration for the ‘Ekamra Kshetra’
Heritage District.
Note:
Map not to scale
Population
With a population of 1.2 million in 2022, the
number is projected to reach 1.6 million in 2035,
with a 2% growth rate YoY.
Growth Drivers

Population Growth and Projections Ranked first in Smart Cities Mission


20
1.6
Emerging as an IT hub with presence
15 1.2 of MNCs
Figures in million

0.9 1.5
10 Presence of prominent and institutes
1.0 such as IIT, AIIMS and NIFT
5
Domestic and limited international
0 connectivity via Biju Patnaik Airport
2011 2015 2022 2030 2035
Year Good inter-state connectivity via
Source: United Nations – World Population Prospects NH 16

Top searched localities

Patia Kalinga Nagar Sundarpada


INR 4,700-7,300 psf* INR 4,000-6,600 psf* INR 2,900-5,000 psf*
Source: Magicbricks Research
Notes: 1. Top micro-markets, ranked by number of searches on Magicbricks website in Q2 2022.
*Average capital values for residential units

06
India’s Tier II Cities: Emerging Real Estate Growth Engines BHUBANESWAR

Residential Market Dynamics


SALE RENTAL
12% YoY change in demand 3% YoY change in demand
5% QoQ change in demand -15% QoQ change demand
Note: Above parameters represent change in volume of residential property searches QoQ and YoY for sale in Q2 2022 at city level

Preference by Budget Preference by Configuration


40
36%

30
Share of Demand (%)

24.5%
22.4%
20

10 8%
5.6%
3.5%
0
> 25 25-50 50-75 75-100 100-125 >125
Ticket Size of Apartment (INR Lakhs)
Source: Magicbricks Research
Source: Magicbricks Research
Notes: Demand represents property searches on Magicbricks
during Q2 2022, segregated by Bedroom, Hall, Kitchen (BHK)
Note: Demand represents property searches on Magicbricks during
configuration
Q2 2022, segregated by price buckets.

36% of homebuyers are searching for properties 52% of homebuyers are seeking the 3 BHK
priced between INR 50-75 lakhs configuration

Preference by Size Challenges


40
Bhubaneswar faces a shortage of affordable
n
37.7% 36.1% housing and 36% of its population lives in
slums.
Share of Demand (%)

30
n The city is vulnerable to natural calamities
20 including cyclonic storms, earthquakes and
10.7% flooding.
10 10.6%
3.9%
0
1% Outlook
<500 500- 1,000- 1,500 2,000 >2,500 Despite being prone to natural disasters like
1,000 1,500 2,000 2,500 cyclones and earthquakes, Bhubaneswar
Size of Apartment (sf) has displayed resilience which has been the
Source: Magicbricks Research backbone of its development. The shortage
37% of homebuyers prefer the 1,000-1,500 sf of affordable housing options provides an
size range followed by 1,500-2,000 sf bracket, opportunity for development of residential real
searched by 36% estate. With the city’s proactive administration
attracting significant IT sector investments,
Note: Demand represents property searches on Magicbricks during Bhubaneswar is set to flourish more.
Q2 2022, segregated by size buckets.

07
India’s Tier II Cities: Emerging Real Estate Growth Engines

Coimbatore
Coimbatore is an established education and
healthcare hub besides being an important node
for religion and tourism activity. A series of master
plans and city-level plans capture the city’s long-
term development agenda with initiatives such as
lake restoration and model roads.
The city is a key node on the Industrial Corridor
between Salem and Coimbatore proposed
under Tamil Nadu’s Vision 2023 Infrastructure
Agenda, potentially bringing investments. North
Coimbatore is home to many IT companies that
are based in CHIL IT SEZ, KGISL Campus, KCT
Tech Park, and Mohan Business Park.

Population
The city has a population of 2. 1 million in 2022 Note: Map not to scale
and it is projected to reach 4.3 million in 2035,
with a 2.5% growth rate YoY.
Growth Drivers
Population Growth and Projections
Presence of large companies like TCS,
5 4.3 Cognizant, and Robert Bosch
4 3.2
Home to various engineering, &
Figures in million

3.9
3 medical colleges
2.1
2 2.5
Enjoys good international connectivity,
1 which can be improved further

0 Excellent connectivity with major


2011 2015 2022 2030 2035 centres in Tamil Nadu and Kerala
Years
Source: United Nations – World Population Prospects Major centre of textile, automobile
parts manufacturing, and mills
Top searched localities
Saravanampatti Vadavalli Thudiyalur
INR 4,500-7,500 psf* INR 4,200-8,600 psf* INR 4,200-6,200 psf*
Source: Magicbricks Research

Notes: 1. Top micro-markets of the city, ranked by number of searches on Magicbricks in Q2 2022.
*Average capital values for residential units

08
India’s Tier II Cities: Emerging Real Estate Growth Engines COIMBATORE

Residential Market Dynamics


SALE RENTAL
27% YoY change in demand 30% YoY change in demand
12% QoQ change in demand 11% QoQ change demand
Note: Above parameters represent change in volume of residential property searches QoQ and YoY for sale in Q2 2022 at city level

Preference by Budget Preference by Configuration


50
43.40%
40
Share of Demand (%)

30 26.60%

20
10.80%
10 8.20% 7.64%
3.40%
0
> 25 25-50 50-75 75-100 100-125 >125
Ticket Size of Apartment (INR Lakhs) Source: Magicbricks Research
Source: Magicbricks Research
Notes: Demand represents property searches on Magicbricks
Note: Demand represents property searches on Magicbricks during during Q2 2022, segregated by Bedroom, Hall, Kitchen (BHK)
Q2 2022, segregated by price buckets. configuration

43% of homebuyers are searching for properties 51% of homebuyers are seeking the 3 BHK
priced between INR 25-50 lakhs configuration

Preference by Size Challenges


40 With increasing and rapid urbanization, the
36.80%
planning standards need to be improved as
30
26.10%
current urban sprawl is unregulated.
Share of Demand (%)

20.70%
20

7.90%
Outlook
10 7%
Coimbatore is expected to continue its
1.40% onward march with projects like the
0
<500 500- 1,000- 1,500 2,000 >2,500 upcoming Industrial Defence Park over 500
1,000 1,500 2,000 2,500 acres of land. The expansion of Coimbatore
Size of Apartment (sf) International Airport is also likely to improve
Source: Magicbricks Research its connectivity to other parts of the country.
Coimbatore-Karur Expressway, flyovers,
Note: Demand represents property searches on Magicbricks during
Q2 2022, segregated by size buckets. and four-lane roads are a few projects that
would further boost Coimbatore’s real estate
37% of homebuyers prefer the 1,000-1,500 sf market.
size range followed by 500-1,000 sf bracket,
searched by 26% of home buyers

09
India’s Tier II Cities: Emerging Real Estate Growth Engines

Indore
A thriving trading and industrial hub, Indore
also boasts of an Automobile Cluster, Textile
Park and several manufacturing units. The
city’s well developed infrastructure includes an
operational Bus Rapid Transit (BRT) network (12
km operational). Indore is now transitioning into
its new avatar as a smart city with a series of
smart initiatives.
Most of the city’s development is coming along
the Super Corridor, a 12 km stretch starting
from Indore Airport to Vijay Nagar Square. This
corridor is also home to the development centers
of TCS and Infosys. The west zone of Indore is
emerging as an IT hub as almost 100 out of 120
acres of land in Simhasa IT Park have already
been allotted to IT companies.
Note: Map not to scale
Population
With a population of 3.2 million in 2022, it is Growth Drivers
projected to reach 4.3 million in 2035, with a 2%
growth rate YoY. Houses many medium to large-sized IT
companies like Infosys, DXC, TCS
Population Growth and Projections
5 4.3 Education hub of Madhya Pradesh with
presence of IIT and IIM
4 3.2
Figures in million

3.9 Devi Ahilya Bai Holkar Airport provides


3
2.1 international connectivity
2 2.5
Excellent road network as NH 3 and
1
NH 59 pass through the city
0
2011 2015 2022 2030 2035
Presence of automobile and pharma
industry
Years
Source: United Nations – World Population Prospects

Top searched localities


Nipania Bicholi Mardana Bypass Road
INR 3,200-5,300 psf* INR 3,400-5,000 psf* INR 3,000-5,500 psf*
Source: Magicbricks Research
Notes: 1. Top micro-markets of the city, ranked by number of searches on Magicbricks in Q2 2022.
*Average capital values for residential units

10
India’s Tier II Cities: Emerging Real Estate Growth Engines INDORE

Residential Market Dynamics


SALE RENTAL
2% YoY change in demand 6% YoY change in demand
12% QoQ change in demand -6% QoQ change demand
Note: Above parameters represent change in volume of residential property searches QoQ and YoY for sale in Q2 2022 at city level

Preference by Budget Preference by Configuration


50
38.9%
40
Share of Demand (%)

30
22.5%
20 18.1%
9.9%
10 6.8%
3.8%

0
> 25 25-50 50-75 75-100 100-125 >125
Ticket Size of Apartment (INR Lakhs) Source: Magicbricks Research
Source: Magicbricks Research
Notes: Demand represents property searches on Magicbricks
during Q2 2022, segregated by Bedroom, Hall, Kitchen (BHK)
Note: Demand represents property searches on Magicbricks during
configuration
Q2 2022, segregated by price buckets.

39% of homebuyers are searching for properties 43% of homebuyers prefer the 2 BHK configuration
priced between INR 25-50 lakh, followed by 23%
in the INR 50-75 lakh range Challenges
The city gets its water supply from River
n
Preference by Size Narmada which is about 70 km away,
40 resulting in high cost of water (INR 18/
35.6% kilolitres against average cost of INR 8-10/kl
30 in other cities)
23.1%
Share of Demand (%)

22% n Poor urban spatial planning and unchecked


20 growth of slums pose a threat to the growth
of Indore.
9.2% 9%
10

1.1%
0
Outlook
<500 500- 1,000- 1,500 2,000 >2,500
1,000 1,500 2,000 2,500 This entrepreneurial city continues to be firmly
Size of Apartment (sf) focused on work and business. The proposed
Source: Magicbricks Research development and investments under the Super
Note: Demand represents property searches on Magicbricks during Corridor and other projects are expected to
Q2 2022, segregated by size buckets. provide employment to 1,00,000 people in
36% of homebuyers’ search for the 1,000-1,500 next five years. This will lead to growth in
sf size range followed by the 500-1,000 sf size demand in the residential market.
range, preferred by 23% of homebuyers

11
India’s Tier II Cities: Emerging Real Estate Growth Engines

Jaipur
Jaipur has been best known as an international
tourism and heritage destination. Spurred by
growth in industrial and IT sectors, the city
has recently witnessed extensive real estate
development, especially along the roads
connecting nearby cities like Ajmer Road, Sikar
Road, Sirsi Road, and Kalwar Road.
Jaipur is also home to Mahindra World City
spread across 3,000 acres. Located off NH8
and within the DMIC influence zone, the SEZ is
a major growth driver for the city. The proposed
Jaipur-Dausa Industrial Area (JDIA) under
Western Dedicated Freight Corridor (connecting
Dadri in Uttar Pradesh to Jawaharlal Nehru Port
(JNPT) in Mumbai) is likely to give boost to the
city’s economy.
Note: Map not to scale
Population
With a population of 4.1 million in 2022, it is Growth Drivers
projected to reach 5.5 million in 2035, with a
2.1% growth rate YoY. Presence of IT companies like Genpact,
Population Growth and Projections Infosys, Deutsche Bank
5.5
6
Educational hub with many medical
5 and engineering colleges
4.1
4.9
4 Jaipur International Airport provides
Figures in million

3.0 good international connectivity


3
3.4
2 Exceptional road connectivity via
NH 48, NH 52, and NH 21
1

0 Proposed JDIA likely to create


2011 2015 2022 2030 2035 employment opportunities
Years
Source: United Nations – World Population Prospects

Top searched localities


Vaishali Nagar Jagatpura Mansarovar Extn.
INR 3,500-8,000 psf* INR 3,000-4,800 psf* INR 3,200-4,800 psf*
Source: Magicbricks Research
Notes: 1. Top micro-markets of the city, ranked by number of searches on Magicbricks in Q2 2022.
*Average capital values for residential units.

12
India’s Tier II Cities: Emerging Real Estate Growth Engines JAIPUR

Residential Market Dynamics


SALE RENTAL
5% YoY change in demand 17% YoY change in demand
0.5% QoQ change in demand 5% QoQ change demand
Note: Above parameters represent change in volume of residential property searches QoQ and YoY for sale in Q2 2022 at city level

Preference by Budget Preference by Configuration


40
34.1%

30
Share of Demand (%)

25.1%

20
13.3%
11.8%
9.5%
10
6.2%

0
> 25 25-50 50-75 75-100 100-125 >125
Ticket Size of Apartment (INR Lakhs) Source: Magicbricks Research
Source: Magicbricks Research Notes: Demand represents property searches on Magicbricks
Note: Demand represents property searches on Magicbricks during during Q2 2022, segregated by Bedroom, Hall, Kitchen (BHK)
Q2 2022, segregated by price buckets. configuration

34% of homebuyers are searching for properties 57% of homebuyers search for 3 BHK configuration
priced between INR 25-50 lakh
Challenges
Preference by Size Traditional sectors such as tourism, handicrafts
n
and gems cutting still dominate the city’s
40
35.6% economy
30 IT industry is still nascent and not at par with
n
24.8% other upcoming cities
Share of Demand (%)

20
15%
10.9% 11.6%
10 Outlook
2.1% The developing road infrastructure including
0
the proposed North Ring Road (connecting
<500 500- 1,000- 1,500 2,000 >2,500 Agra Road and Ajmer Road) will ensure
1,000 1,500 2,000 2,500
easy connectivity with other urban centres.
Size of Apartment (sf) With a growing presence of manufacturing
Source: Magicbricks Research industries, Jaipur is flourishing as an
Note: Demand represents property searches on Magicbricks during employment hub. This is likely to translate
Q2 2022, segregated by size buckets. into increased demand in the residential real
estate market.
35% of homebuyers prefer the size range of
1,000-1,500 sf, followed by 1,500-2,000 sf size
range, searched by 25% of homebuyers

13
India’s Tier II Cities: Emerging Real Estate Growth Engines

Nagpur
Nagpur, the geographical centre of the country
enjoys road, rail, and air connectivity to major
urban centres. The city is coming up as a major
logistical hub for the movement of international
and domestic cargo. One of Nagpur’s biggest
economic drivers is the Maharashtra Industrial
Development Corporation (MIDC) hub at Butibori
that houses over a hundred industries.
Home to the Multi-modal International Cargo
Hub and Airport, south Nagpur is an emerging
growth corridor. The area has witnessed a healthy
supply of residential units over the last few years.
On the other hand, commercial development is
coming up along Hingana Road in the western
part of Nagpur.
Note: Map not to scale
Population
With a population of 2.9 million in 2022, it is Growth Drivers
projected to reach 3.9 million in 2035, with a
2.1% growth rate YoY.. IT companies such as Global Logic,
Persistent Systems, Tech Mahindra
Population Growth and Projections
5 3.9 Educational and technical institutions
such as IIM, VNIT and GMC
4 2.9
Figures in milllion

3.5 Dr Babasaheb Ambedkar Airport


3
2.5 provides international connectivity
2 2.6
Transport hub for Vidarbha region
1 providing regional connectivity
0
Two major MIDC hubs at Hingana
2011 2015 2022 2030 2035
and Butibori
Years
Source: United Nations – World Population Prospects

Top searched localities

Manish Nagar Wardha Road Besa


INR 4,400-5,300 psf* INR 3,200-4,500 psf* INR 3,200-5,700 psf*
Source: Magicbricks Research

Note: 1. Top micro-markets of the city, ranked by number of searches on Magicbricks in Q2 2022.
*Average capital values for residential units.

14
India’s Tier II Cities: Emerging Real Estate Growth Engines NAGPUR

Residential Market Dynamics


SALE RENTAL
49% YoY change in demand 84% YoY change in demand
25% QoQ change in demand 29% QoQ change demand
Note: Above parameters represent change in volume of residential property searches QoQ and YoY for sale in Q2 2022 at city level

Preference by Budget Preference by Configuration


50
40.3%
40
Share of Demand (%)

30
23.3%
20
10.6%
10.8% 9.2%
10 5.8%

0
> 25 25-50 50-75 75-100 100-125 >125
Ticket Size of Apartment (INR Lakhs) Source: Magicbricks Research
Source: Magicbricks Research Notes: Demand represents property searches on Magicbricks
during Q2 2022, segregated by Bedroom, Hall, Kitchen (BHK)
Note: Demand represents property searches on Magicbricks during configuration
Q2 2022, segregated by price buckets.
44% of homebuyers prefer the 2 BHK
40% of homebuyers are searching for properties
configuration, followed by 41% searching for
priced between INR 25-50 lakh.
3 BHKs.

Preference by Size Challenges


50 The eastern periphery of Nagpur is made up
n
44.9%
of several unplanned layouts inconsistent with
40
land-use provisions
Share of Demand (%)

30 27.3%
n 36% of the city’s population lives in slums; the
20 18.1% supply of affordable housing is limited

10
4.7% 3%
2.1%
0 Outlook
<500 500- 1,000- 1,500 2,000 >2,500 With development in education, healthcare,
1,000 1,500 2,000 2,500
infrastructure and industry, Nagpur is offering
Size of Apartment (sf)
numerous employment opportunities. As the
Source: Magicbricks Research
city continues to take large strides towards
Note: Demand represents property searches on Magicbricks during development, the demand for housing is
Q2 2022, segregated by size buckets.
likely to grow.
45% of homebuyer’s searches for size range
1,000-1,500 sf, followed by 500-1,000 sf size
range, searched by 27% of homebuyers

15
India’s Tier II Cities: Emerging Real Estate Growth Engines

Upcoming
Development Projects
The residential real estate market in tier 2 cities is flagged by strong underlying end user demand.
Housing projects in these growing urban centres are getting good traction due to their affordability and
potential for a higher upside in terms of investments. The future growth of the cities covered in this
report is likely to be spurred by several key infrastructure and development initiatives. The following
projects are expected to augment the development of these emerging urban centres:

BHUBANESWAR

Odisha Economic Corridor (OEC): Part of the East Coast Industrial corridor, OEC comprises 11
industrial clusters spanning 600 km along NH-16. Bhubaneswar has been identified as one of the key
areas for development activities in this corridor.
Bhubaneswar Town Centre Project (BTC): Envisioned as the city’s first planned Transit Oriented
Development (TOD) initiative and first smart building project, BTC will serve as a Multimodal Hub.

COIMBATORE

Coimbatore NXT: The initiative has been launched by the Confederation of Indian Industry (CII) to
make the city a vibrant economic destination and nurture the start-up ecosystem.

Proposed Robotics Cluster: The Coimbatore Industrial Infrastructure Association (COINDIA) has
mooted a robotics cluster for Coimbatore. The Association will provide research and development
support and testing facilities

16
India’s Tier II Cities: Emerging Real Estate Growth Engines

INDORE

Digital Addressing System: Indore will soon be implementing a fully digital addressing system
wherein a unique digital doorstep number will be allotted to all properties.
Expansion of Road Network: Foundation stones laid for 5 major road infrastructure projects worth
INR 2,300 cr including six-lane flyover at Rau circle, 4-lane road construction between Indore and
Harda on Indore-Betul Highway, etc.

JAIPUR

Delhi-Mumbai Expressway: Slated to start operations in 2023, the project will seamlessly connect
Delhi with Mumbai and also drive investment to cities like Jaipur that are falling along this corridor.
Northern Ring Road: The upcoming 45-km Northern Ring Road connecting Delhi and Agra national
highways will significantly boost Jaipur’s connectivity. The Ring Road project will consist of a six-lane
access-controlled expressway and a three-lane service road on both sides.

NAGPUR

Mumbai-Nagpur Expressway: The 6 lane, 701-km Mumbai-Nagpur Expressway (Samruddhi


Mahamarg) by MSRDC connecting village Shivmadka in Nagpur District to village Amne in Thane
District is under construction and is expected to be completed soon.

17
Magicbricks
India’s No. 1 Property Site
As the largest platform for buyers and sellers of property to connect in a
transparent manner, Magicbricks has monthly traffic exceeding 2 crores
and an active base of over 15 lakh property listings. Magicbricks has
metamorphosed into a full-stack service provider for all real estate needs,
with 15+ services including home loans, pay rent, movers and packers, legal
assistance, property valuation, and expert advice.

With 15+ years of experience and deep research-based knowledge,


Magicbricks also presents a repertoire of insight-driven platforms like MBTV-
India’s leading online real estate YouTube channel, and other proprietary
tools so that home buyers can access all information related to price trends
and forecasts, locality reviews and more.

For more information and research related queries, please contact:

Siddhart Goel | Research & Editorial Head


siddhart.goel@magicbricks.com

Disclaimer: The data presented in the report is compiled by Magicbricks from multiple sources. Magicbricks
gives no warranty, express or implied, as to the accuracy, reliability, and completeness of any information and does
not accept any liability on the information which may or may not be subject to change from time to time due to
Governmental or non-Governmental regulations/directions.

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