India, Sept. 18 -- As infrastructure improves and economic activity deepens, residential prices across 11 emerging Tier-2 real estate markets, including Goa, Lucknow, Nagpur, Visakhapatnam and Coimbatore, have risen 63% over the past five years, compared with 42% growth across the top eight cities. Average residential prices in these markets range from Rs.4,500 to Rs.13,500 per sq ft, according to a report by CII-Knight Frank India released on September 18.

The report, titled 'India's Next Real Estate Markets', noted that housing prices across the 11 emerging Tier-2 cities - Bhopal, Bhubaneswar, Chandigarh Tricity, Goa, Indore, Jaipur, Kochi, Lucknow, Nagpur, Visakhapatnam and Coimbatore - recorded an average compound annual growth rate ...