Liases Foras, an independent real estate research and analytics firm, has ranked Nagpur as India’s leading emerging luxury real estate investment market, ahead of Indore, Coimbatore, Ahmedabad and Lucknow.
In its white paper, India’s Luxury Real Estate Evolution – Nagpur’s Emerging Luxury Opportunity, the firm assessed the five cities on infrastructure readiness, capital appreciation potential, cost effectiveness, market maturity and long-term investment attractiveness.
Growth drivers
The report identifies Nagpur as the country’s most attractive emerging luxury destination, citing its combination of large-scale infrastructure development, relatively low property prices, limited luxury housing supply and early-stage market evolution.
South Nagpur has emerged as the city’s highest-growth luxury corridor. Plot prices in Nagpur have recorded a 15.2% compound annual growth rate (CAGR) over the past seven years, while South Nagpur has outperformed with a 17.8% CAGR.
Infrastructure push
According to the report, land values in South Nagpur are projected to increase four-fold between 2025 and 2033, compared with 2.6 times growth in North Nagpur and 1.9 times in East and West Nagpur.
The study attributes the momentum to major infrastructure projects, including the ₹5.25 lakh crore Viksit Nagpur 2047 plan, the 701-km Samruddhi Expressway, MIHAN SEZ, Metro Phase II and the proposed ₹6,500 crore International Business and Financial Centre (IBFC).
Investment opportunity
The report noted that luxury housing accounts for less than 5% of Nagpur’s residential supply, while demand for premium homes is expected to increase three to four times by 2033, creating a significant opportunity for developers and investors.
It concluded that infrastructure-led emerging cities such as Nagpur are likely to drive the next phase of luxury real estate growth in India, offering attractive long-term capital appreciation.