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An Overview of the Nagpur Real Estate Market

If you wish to reside in a peaceful area, away from the city crowd, but don’t want to miss out on all the metropolitan amenities, then Nagpur is the ideal location for you. It is one of the greenest cities in the country, even though being so populated with the IT crowd. This city is the winter capital of Maharashtra and the steps taken by the current government would definitely make it at par with other metro cities like Mumbai.


Infrastructure & Connectivity
Nagpur, located in Maharashtra, is one of the fastest growing cities of the country. This has been possible because of the excellent infrastructure growth of the city. The Mihan or Multi-Modal International Cargo Hub project would add to its amazing development. The city has emerged as one of the most prominent IT hubs of the country and houses a number of IT professionals. It is also seamlessly connected with major cities in all the four directions through its widely stretching highways and rail network. The state government has taken the initiative to welcome metro rail here which would change the way people commute in this city.


There has been an increase in the number of inhabitants because of the rapid development in terms of infrastructure, employment opportunity and living standards. The population of the city was recorded at 2,405,665 according to the 2011 Indian census. The average literacy rate of the city, at 91.92%, is quite good as compared to other metro cities. There are around 963 females for every 1,000 males as per the records of 2011.


Life Style
As this city has become one of the well-known IT hubs of the country, there has been a shift in the type of people dwelling in this region. More educated and corporate employees have made this city a home now and it has, indeed, transformed itself to suit their needs and lifestyle. From movie theaters playing the hit Bollywood, Hollywood and Marathi films to the theaters showing authentic Marathi plays, from amusement parks like Ocean Aqua World and Essel World to art galleries like Drishti and Vernacular Art N Craft, there are countless options to pass time in this city.


Key localities in Nagpur
Nagpur real estate
has seen a drastic change over the past few decades to house the immigrating IT employees and many others. A number of localities are able to be at par with the increasing property demands of the people. Some of these key localities are given here: Sitabudli, Shankar Nagar, Dharampeth, Khamla, Friends Colony, New Indora, Ganeshpeth, Wardha Road, Pratap Nagar, Canal Road, etc.


Real Estate Market
Builders of this city have played an important role in taking it to the heights it is enjoying today. Real Estate in Nagpur has seen a drastic change; with tall buildings and plush villas taking the place of barren land. Builders have a key role in this development as they are the ones who come up with various types of property for sale in Nagpur and add charm to its infrastructure. These are some of the best builders of this city: Om Shivam Buildcon Pvt Ltd, Mahindra Lifespaces, Godrej, Gangwani Constructions Pvt Ltd, Balaji Builders, Maxx Constructions, Rachna Construction, Pioneer Construction and others.


Projects in Nagpur
There are a number of projects in line that would be launched in the coming months. From under development residential apartments to other completed projects, Nagpur property would soar high with the launch of these affordable yet luxurious homes and plots. One can find all types of residential and commercial property in this city according to the budget, needs and comfort.


Govt Projects in Nagpur
Under the Pradhan Mantri Awas Yojana, Nagpur was gifted with 50,000 flats for the people of lower income groups and economically weaker sections. These flats would be available to the poor people at just Rs.3.25 lakhs. The government or the Nagpur Improvement Trust (NIT) has offered a whopping sum of Rs.1,000 crores for housing development in areas like Shesh Nagar, Hazaripahad and Sangharsh Nagar. Hi! Searching for Property? Let's Chat