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Nagpur, the second capital of Maharashtra is famous as Orange City of India. Nagpur real estate market is experiencing high demand in Commercial and Residential properties.
For any investor in properties, Nagpur offers many attractions. Nagpur is centrally located; The National Highways Kanyakumari-Varanasi (No 7) and Hawrah-Dhule (No 6) and all the East-West and North-South railway lines pass through Nagpur. It is also famous as a higher education and healthcare hub.
In the view of a Property Dealer: “The Nagpur property market is facing high demand because of new investments coming from IT sector companies, setting up of Boeing’s MRO Unit, Cargo Hub, SEZ etc”.
Nagpur has many Residential projects and Township projects in various stages of development. An idea of the jump in property prices can be had from the rates at which the Flats in the prestigious Empress City, near the Nagpur Railway Station, were sold out. The flats were sold in the price bracket of Rs 1-crore plus!
Residential real estate is flourishing in localities like Wardhaman Nagar, Surendra Nagar and Pratap Nagar. NRI investment is also flowing into the Realty sector of the city. Residential Property rates are appreciating in all localities such as Ramdaspeth, Civil Lines, Dhantoli, Dharampeth and Shankar Nagar.
Top builders and developers are present in the Nagpur residential and commercial property market. They include Raheja Group and Sahara Group. The latter has ‘Sahara City project’ at the Wardha Road. Others include Soham Group, Awani Group, Adani Group and Hiranandani Developers.
Raheja is planning super malls and IT park. The Soham Group is for a township. Avani Infrastructure Limited is planning commercial development on Wardha Road. Hiranandani Developers is targeting residential projects while Adani Group has plans for developing commercial and retail hubs on the lines of Mumbai’s Bandra-Kurla complex.
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