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TIL CreativesKey cities in the western region have emerged as strategic business hubs. A structural shift is redefining India’s commercial real estate landscape as nine emerging cities including Chandigarh Tricity, Jaipur, Lucknow, Indore, Nagpur, Coimbatore, Kochi, Bhubaneswar, and Guwahati collectively command nearly Rs 10 trillion in economic output, alongside 70 million sq ft of Grade A office space and 80 million sq ft of logistics infrastructure, according to a JLL India study.While major metros continue to anchor the country’s property market, the next wave of growth is shifting toward these regional centers, where companies are finding both cost efficiency and operational resilience.“This is a structural rebalancing of India’s economic geography. With a combined GDP of over Rs 9.9 trillion and more than 70 million sq. ft. of Grade A office stock, these nine cities are not just future promises; they are established economic forces,” said Samantak Das, Chief Economist and Head of Research and REIS, JLL India.Corporates expanding beyond metros are realizing 25-50% savings across real estate, talent, and operations, while enjoying attrition rates up to 15% lower than in established markets. This shift is attributed to the growing maturity of regional economies supported by expanding infrastructure, improved connectivity, and a strong pool of skilled talent.“Our client discussions have fundamentally shifted from cost savings to business priorities like operational resilience and attracting top talent. Companies now recognize that the enhanced quality of life in these cities is a key differentiator for attracting and retaining employees, as evidenced by attrition rates that are up to 15% lower. Paired with 20-35% in talent cost savings, the business case is undeniable,” said Surekha Bihani, Senior Managing Director - East and Emerging Markets, India, JLL.Live EventsKey cities in the western region have emerged as strategic business hubs, offering competitive real estate costs, strong talent availability, and lower attrition rates. These regions also provide proximity to hometowns, better quality of life, and improving infrastructure, making them attractive alternatives to saturated metros.Southern centers such as Coimbatore and Kochi are witnessing rapid diversification. Coimbatore’s manufacturing and IT strengths, combined with ongoing metro and smart city initiatives, are reinforcing its position as Tamil Nadu’s second-largest economic hub. Kochi, supported by its international port and high-speed digital connectivity, is emerging as a logistics and IT destination for southern India.In the north, Jaipur and Lucknow are leading the expansion. Jaipur, traditionally known for tourism and handicrafts, is now emerging as a technology and services hub, buoyed by the Delhi-Mumbai Expressway and a growing base of IT companies. Lucknow, the capital of Uttar Pradesh, is leveraging its inclusion in the newly formed State Capital Region and infrastructure push to attract defense and industrial investments.In the east, Bhubaneswar and Guwahati are driving regional transformation. Bhubaneswar’s governance and education ecosystem are drawing occupiers, while Guwahati’s strategic position as a gateway to the Northeast and ASEAN trade corridor is fueling demand for Grade A warehousing and organized retail.JLL’s analysis indicates that these cities now form a critical component of India’s broader growth strategy, offering quantifiable business advantages and expanding the country’s real estate opportunity beyond traditional metros. EndsAdd as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onemerging cities in Indiacommercial real estate growthGrade A office spacereal estate cost savingseconomic output of citiesoperational resilience in businessesindustrial growth in India (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onemerging cities in Indiacommercial real estate growthGrade A office spacereal estate cost savingseconomic output of citiesoperational resilience in businessesindustrial growth in India(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
