Real Estate in Nagpur
Nagpur is the third largest city of Maharashtra after Mumbai and Pune. It is also considered to be the second capital of the state as the city has the seat of winter session of Vidhan Sabha. Nagpur is also a major political as well as commercial center of Vidhrabha region of the state. Situated in the eastern part of Maharashtra, the city is located on the Deccan Plateau of Indian Peninsula. The city has a number of natural and man made lakes like Futala Lake, Gorewada Lake and Telangkhedi Lake, Ambazari Lake, Sonegaon Lake and Gandhisagar Lake.
Nagpur is one of the fastest growing urban cities of the country. The city has witnessed unprecedented surge on the industrial as well as economical front. Property Market in Nagpur is also on the boom in the city. The rates of industrial and commercial property in Nagpur are very high due to the upward trend of Real Estate Market here. The city has attracted a huge number of real estate investors as it is abundant with all kinds of properties namely residential, commercial and industrial waiting for investment.
The region behind the city’s booming real estate market is its highly improved infrastructure and basic amenities. Being an important commercial center of Vidrabh region of Maharashtra, a lot of offices and commercial spaces have come up in the recent years. The Butibori industrial area located here is one of the largest industrial areas in Asia. Indo Rama Synthetics Mahindra and Mahindra, casting units of NECO Ltd. (the country's largest casting group), Bajaj Auto group, Candico are some of the important units located here. Nagpur is an important educational center of central India. Nagpur University, Visvesvaraya National Institute of Technology, Laxminarayan Institute of Technology, Raman Science Centre, etc. are some of the reputed educational institutes in the Nagpur. Highly advanced transpiration system, 24 hour power and water supply make this an ideal place for investing in property.
Many flyovers, shopping malls, multiplexes, etc. have come up in the recent years changing the face of the city. Both the private as well as public players have developed residential and commercial spaces to meet the demand of increasing population in the city. The government has developed a new SEZ (Special Economic Zone) for the expansion commercial estate. "Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN)" is one of the ambitious projects of the city. The investment in the real estate market in Nagpur is bound to give good return to the investors.
The city is coming up with metro rail project. The city has come up with Boeing MRO (maintenance repair and overoiling) hub at Nagpur. The city is also coming up with AAIMS Hospital and educational institutes like National Law School, IIM and IIIT.