Nagpur, An Eonomical Alternative For Many Potential Home Buyers
Being an industrial hub of Maharashrta- Nagpur is fast developing into becoming an IT/ITes sector.
Situated centrally with the availability of land in large parcels, the city is showing signs of realty development.
Major IT players like TCS, Wipro, Satyam and Lambent are purchasing large tracts of land to create state of the art office spaces and residential capital ventures.
Property builders are now tapping into the growing demand and are creating an array of modern high rise apartments in Nagpur that cater to the needs and demands created by the cosmopolitan crowd.
The growing housing requirement is luring many real estate developers and builders to enter the realty market.
The housing influx is pushing many local and national property developers to purchase large parcels of land so they could create extraordinary living spaces.
Becoming a promising Tier II city, potential homes buyers and investors are showing a keen interest in investing in a property in Nagpur.
Expanding its horizons to its peripherals, the city has an array of active residential pockets that are brimming with construction activities.
Neighbourhoods like Shankar Nagar, Ramdaspeth and Dharam Peth are cited to be some of the most sought after residential hubs.
Arrays of multistory apartments in Nagpur have mushroomed here.
Capital values of 2 BHK apartments that spread over 800 square feet are estimated to cost anywhere between Rs Rs 3,700 and Rs 4,800 per square feet.
Catering to the needs and demands of HNIs (High Net-worth Individuals) and NRIs (Non Resident Indians), builders are creating premium homes that fetch higher property rates.
For instance homes in vicinities like Dhantoli, Pratap Nagar, Vardhaman and Surendra Nagar are cited to cost an average of Rs 5,600 per square feet.
The presence of shopping malls, reputed eatery joints and Cineplex's are forcing families to shift base here.
High end gated communities that offer luxury homes are enticing many HNIs.
Vicinities like Medical Square, Mihan and Wardha Road are cited to be some of the most sought after localities for premium housing units.
3 BHK villas here are cited to hover anywhere between Rs 4,700 and Rs 7,300 per square feet, depending if the homes are semi or fully furnished.
Apart from being an end users market, the city is fast becoming a rental hub.
The employment opportunities are attracting a fair share of floating population.
Working professionals and bachelors who are not interested in investing in homes are showing a keen interest in renting larges spaces.
A property in Nagpur that costs and average of Rs 60 lakhs is capable of generating a rental yield of Rs 15,000 per month thereby making the market a favourable destination for many investors.
The developing commercial belt is another factor that is flourishing the city's realty market.
The proposed logistics park along National Highway 7 has attracted a lot of investment.
Neighbourhoods like Gandhi Baug, Itwari and Central Avenue meet the needs and demands of a shopaholic.
So if you are hunting for a market that is likely to witness and upsurge, Nagpur is the place for you.
Situated centrally with the availability of land in large parcels, the city is showing signs of realty development.
Major IT players like TCS, Wipro, Satyam and Lambent are purchasing large tracts of land to create state of the art office spaces and residential capital ventures.
Property builders are now tapping into the growing demand and are creating an array of modern high rise apartments in Nagpur that cater to the needs and demands created by the cosmopolitan crowd.
The growing housing requirement is luring many real estate developers and builders to enter the realty market.
The housing influx is pushing many local and national property developers to purchase large parcels of land so they could create extraordinary living spaces.
Becoming a promising Tier II city, potential homes buyers and investors are showing a keen interest in investing in a property in Nagpur.
Expanding its horizons to its peripherals, the city has an array of active residential pockets that are brimming with construction activities.
Neighbourhoods like Shankar Nagar, Ramdaspeth and Dharam Peth are cited to be some of the most sought after residential hubs.
Arrays of multistory apartments in Nagpur have mushroomed here.
Capital values of 2 BHK apartments that spread over 800 square feet are estimated to cost anywhere between Rs Rs 3,700 and Rs 4,800 per square feet.
Catering to the needs and demands of HNIs (High Net-worth Individuals) and NRIs (Non Resident Indians), builders are creating premium homes that fetch higher property rates.
For instance homes in vicinities like Dhantoli, Pratap Nagar, Vardhaman and Surendra Nagar are cited to cost an average of Rs 5,600 per square feet.
The presence of shopping malls, reputed eatery joints and Cineplex's are forcing families to shift base here.
High end gated communities that offer luxury homes are enticing many HNIs.
Vicinities like Medical Square, Mihan and Wardha Road are cited to be some of the most sought after localities for premium housing units.
3 BHK villas here are cited to hover anywhere between Rs 4,700 and Rs 7,300 per square feet, depending if the homes are semi or fully furnished.
Apart from being an end users market, the city is fast becoming a rental hub.
The employment opportunities are attracting a fair share of floating population.
Working professionals and bachelors who are not interested in investing in homes are showing a keen interest in renting larges spaces.
A property in Nagpur that costs and average of Rs 60 lakhs is capable of generating a rental yield of Rs 15,000 per month thereby making the market a favourable destination for many investors.
The developing commercial belt is another factor that is flourishing the city's realty market.
The proposed logistics park along National Highway 7 has attracted a lot of investment.
Neighbourhoods like Gandhi Baug, Itwari and Central Avenue meet the needs and demands of a shopaholic.
So if you are hunting for a market that is likely to witness and upsurge, Nagpur is the place for you.
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