Editor’s Note
A new report highlights a significant opportunity for transit-oriented development in India’s major cities, pointing to over 106 million square feet of potential real estate growth near key transport hubs.
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According to CBRE South Asia, there is an opportunity to develop more than 106 million square feet of real estate across India’s top eight cities, concentrated around major transit hubs such as metro stations, train stations, and inter-state bus terminals.
The recent report “Billions in Transit: Assessing the Impact of Transit Oriented Development on Indian Cities” by the real estate consultancy noted that the Delhi-NCR region offers the highest potential for transit-oriented real estate development, estimated at 32 million square feet. This is driven by its rapidly expanding metro network, inter-state bus terminals, and city railway stations.
Mumbai ranks second with 20 million square feet of potential, followed by Chennai at 13 million square feet, the report noted.
Other key cities such as Hyderabad, Kolkata, Ahmedabad, and Pune are also seeing TOD-linked real estate activity, though at different scales, as mass transit networks expand.
This statement was made by Anshuman Magazine, Chairman and CEO, India, South-East Asia, Middle East and Africa, CBRE.
Transit-oriented development (TOD) encompasses both commercial and residential projects, along with dedicated spaces for walking, cycling, and seamless multi-modal transport integration around key transit hubs.
TOD corridors are also driving the growth of mixed-use ecosystems that blend residential, office, retail, and leisure spaces.
In Delhi-NCR, planned projects such as Dwarka ISBT, Aerocity ISBT, and Jewar International Airport, along with existing hubs such as Sarai Rohilla and Hindon Airport, offer high potential for TOD. In Mumbai, locations include railway stations such as Bandra and the upcoming Navi Mumbai International Airport.
In Chennai, hubs such as Chennai Airport, Maduravoyal Expressway, and Chennai Peripheral Ring Road are poised to unlock TOD-linked real estate. Additionally, states including Maharashtra, Delhi, Haryana, and Uttar Pradesh have introduced their own TOD policies.
This statement was made by Ram Chandnani, Managing Director, Leasing Services, CBRE India.
The report draws on global case studies to show how TOD integrates infrastructure with real estate while suggesting best practices for India.
CBRE’s recommendations include regulatory steps such as unified transport authorities and simplified rules, design measures such as flexible zoning and enhanced walkability, and financial tools such as land-value capture and recurring revenue streams to fund and sustain transit infrastructure.