New Delhi, Sep 3 : India has an opportunity to develop over 106 million square feet of real estate within major transit nodes, such as Metro stations, train stations, and inter-state bus terminals, across the country's top eight cities, a report said on Wednesday.

"The Delhi-NCR region demonstrates the highest potential for transit-oriented real estate development, estimated at 32 million square feet (sq. ft.)," CBRE, a real estate consulting firm, said in its report.

This significant capacity is attributed to the region's expanding Metro system, ISBTs, and city railway stations.

Mumbai holds the second-highest potential at 20 million sq. ft., followed by Chennai with an estimated 13 million sq. ft., according to the report.

Other key cities such as Hyderabad, Kolkata, Chennai, Ahmedabad and Pune are also seeing transit-oriented development (TOD)-linked real estate activity, though at different scales, as mass transit networks expand.

TOD includes both commercial and residential projects, alongside dedicated spaces for activities such as walking and cycling, and spots offering multi-modal transport integration designed around major transport hubs, the report stated.

Transit-oriented development corridors are also accelerating the rise of mixed-use ecosystems, integrating residential, office, retail, and leisure spaces, reducing commute times and supporting compact, connected growth.

'TOD paves the way for vibrant, mixed-use communities that are not only commercially viable but also sustainable and livable. As Metro networks and transport hubs continue to expand across urban India, transit-oriented development will play a pivotal role in shaping inclusive, accessible, and future-ready cities," said Anshuman Magazine, Chairman and CEO - India, South-East Asia, Middle East and Africa, CBRE.

As per the report, in Delhi-NCR, planned projects such as Dwarka ISBT, Aerocity ISBT, and Jewar International Airport, and existing hubs such as Sarai Rohilla and Hindon Airport, offer high potential for transit-oriented development.

In Mumbai, these places include railway stations like Bandra, Dadar, Mumbai CST and the upcoming Navi Mumbai International Airport.

Moreover, hubs such as Chennai Airport, Maduravoyal Expressway and Chennai Peripheral Ring Road can unlock potential transit-oriented real estate, the report noted.

"Transit-Oriented Development is fast emerging as a game-changer for India's urban growth story. Developers are increasingly aligning with TOD principles to design integrated, live-work-play ecosystems that cater to the evolving needs of urban professionals," said Ram Chandnani, Managing Director, Leasing Services, CBRE India.

/IANS