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 Nagpur Property
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Nagpur properties are gearing up to witness phenomenal growth in the wake of the initiatives taken by leading builders of the country as well as by some of the well known international property developers. The latest bid of Ascendas, a prominent developer of business properties in Asia, to strike a deal with the state government to develop IT parks in Nagpur indicates the growing importance of this orange city of India. The upcoming business park will be named as International Tech Park Nagpur (ITPN) and will be spread over an area of 63 acre.
In recent times, the city has evolved into an alternative to the highly concentrated cities of Mumbai and Pune and is opening up its untapped real estate potential for business communities and professional classes. The arrival of IT majors, such as Wipro, Infosys and Satyam is fast transforming the traditional face of the city into a modern one with dotted presence of malls, shopping arcades, educational institutes and entertainment zones. Better infrastructural facilities and excelling living environment have led the development of residential complexes too.
While the demands for office spaces in prime locations have grown into an unprecedented level, the market for residential properties in Nagpur too is not left far behind. The huge job opportunities put forth by rapid growth of industries and service sectors have increased the number of expatriates significantly over the past few years. While majority of them prefer rental homes, some are also interested in buying real estate properties in Nagpur.
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Besides luxury apartments and condominiums to cater to the housing needs of highly paid professionals and wealthy businessmen, there is ample housing solutions for common people. Flats and row houses built by housing authorities at several residential pockets of the city are available at moderate prices for sale. Bungalows and villas are the instances of independent homes for the premium segment of home buyers. Besides, residential plots are also made available to the people wishing to construct their own home.
The growing interest of NRIs from US, UK and the Middle East in Nagpur properties is causing a quick rise in property prices as well. The NRI communities who have roots in the city are investing heavily to get a good chunk of lands or residential properties in Nagpur. Because of this phenomenon, the vast tracts of agricultural and non developed agricultural land are being made available for sale and for further development.
The upcoming project of Nagpur SEZ has also created a favorable environment for the development of real estate in Nagpur. The proposal has provisions for hi tech health care facilities, world class shopping experience and high standard entertainment hubs, thus adding more glamor and attraction to the living environment of the city. Keep surfing indiahousing.com to know more about Nagpur real estate.
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| India Housing- Real Estate India |
| India Housing- Property in India |
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