GaN based nanostructures are being increasingly used to improve the performance of various devices including light emitting diodes and lasers. It is important to determine the strain relaxation in these structures for device design and better prediction of device characteristics and performance. We have determined the strain relaxation in InGaN/GaN nanowalls from quantum confinement and exciton binding energy dependent photoluminescence peak. We have further determined the strain relaxation as a function of nanowall dimension. With a decrease in nanowall dimension, the lateral quantum confinement and exciton binding energy increase and the InGaN layer becomes partially strain relaxed which decreases the piezoelectric polarization field. The reduced polarization field decreases quantum confined Stark effect along the c-axis and increases electron-hole wave-function overlap which further increases the exciton binding energy. The strong dependency of the exciton binding energy on strain is used to determine the strain relaxation in these nanostructures. An analytical model based on fractional dimension for GaN/InGaN/GaN heterostructures along with self-consistent simulation of Schrodinger and Poisson equations are used to theoretically correlate them. The larger effective mass of GaN along with smaller perturbation allows the fractional dimensional model to accurately describe our system without requiring first principle calculations.