Nagpur - Best place for Real Estate Investment

Rajesh Dhote · 04-24-2007

One of the fastest growing Tier III cities in India -Future IT and Aviation city - Companies like Boeing, Satyam computers, HCL, Dell, Hexaware, DLF, Ascendas etc. has already finalized their projects. Adjacent to IT SEZ(Wardha Road – NH7) is Proposed International Cargo HUB(MIHAN – Multimodal International Hub Airport at Nagpur, (www.madcindia.org ), which is first and only such kind of project in the country being developed in Nagpur by a joint venture between Maharashtra Airport Development Corporation (MADC) and the Airport Authority of India (AAI). Second Capital and third big city in Maharashtra. Nearby is the new VCA cricket stadium.

Armaan · 04-25-2007

I'd like to throw some light on MIHAN as Mr. Rajesh has cited.

MIHAN PROJECT

The under-planning MIHAN project will be spread over 4,025 hectares and, when completed, it is going to be one of the biggest cargo hubs in Asia.
Besides the airport, the proposed project involves a road-rail terminal, a special economic zone (SEZ) and other urban amenities.

An IT park spread over 400 hectares in the SEZ will house IT majors like Satyam Computers, TCS, Patni Computers as well as Microsoft. Dell too has evinced interest in Nagpur. The Boeing MRO facility has alrady been talked about.

In the Special Economic Zone, units may be set up for manufacturing of goods, rendering of services, production, processing, assembling, trading, repairs, packing and repacking.

In addition, attractive fiscal incentives, soft regimes of taxes for developers and entrepreneurs, productivity-friendly labour laws and simpler procedure shall also be offered in the zone, as has been available in other free trade zones all over the world.

A separate 60 hectares have been allocated within the SEZ for the Health City, which is expected to provide about 2,000 beds in various multi-speciality hospitals.

Private players will operate one or more specialised units in the Health City. The proposed Health City, envisaged as the preferred destination for health tourists all over the world, shall be located in the SEZ, providing the operators tax concessions and other benefits as per the SEZ Act 2005.

punter · 01-06-2008

what is the price of land in Nagpur at the moment? I am an onverseas resident and wanted to know if there is an issue buying land (in terms of safety???)

Also what new residential projects are coming up in NGP? Any ideas and thoughts would be highly appreciated. I used to go to NGP every year when I was young but have no idea as to how the city has developed/changed in the last 12 years.

Regards

jgd1234 · 04-01-2008

I am from Nagpur and I have seen Nagpur grow from a dusty town to a bustling clean and green city(its the 2nd greenest in india).

Now its on the way to becoming a world trade city with the MIHAN project coming up fast.

The land prices here have been going up faster than anywhere else in India and its the right time to jump in.The investors have reaped a rich reward in the last two years and many have got returns of close to 300-500% in land investments around MIHAN project.

realtyrider · 4 Weeks Ago

Nagpur, Maharashtra derived its name from the river Nag that flows through it. Also known as the 'Orange city' of India, Nagpur, once a small country town has in recent times metamorphosed into a metropolis with luxury apartments and condominiums, lavish showrooms, malls with multiplexes, hi-tech healthcare facilities and better infrastructure with smooth roads and flyovers. The data itself speaks for Nagpur real estate witnessing a major spurt.Moreover, this transformation in lifestyle has also seen the surfacing of a more informed and aware new generation, more disposable incomes and an increase in elite millionaires. As the city gears up as the next hub for industries and service sectors like the IT, ITES and the BPO sector - its infrastructural facilities, strategic location and connectivity to the financial capital, Mumbai are few of the many factors attracting real estate investments to Nagpur.Another favorable reason for investments into the city is the availability of workforce who are gradually shifting base to Nagpur following the growth of job opportunities and congestion in the nearby cities of Mumbai and Pune. This consistent migration into the city has led to large demand for residential spaces in the city. Housing in Nagpur is becoming simple due to real estate agents in Nagpur who know the city trends and are aware of Nagpur property prices.

04-24-2007	#1
Rajesh Dhote Junior Member Join Date: Apr 2007 Location: Nagpur Posts: 1	Nagpur - Best place for Real Estate Investment One of the fastest growing Tier III cities in India -Future IT and Aviation city - Companies like Boeing, Satyam computers, HCL, Dell, Hexaware, DLF, Ascendas etc. has already finalized their projects. Adjacent to IT SEZ(Wardha Road – NH7) is Proposed International Cargo HUB(MIHAN – Multimodal International Hub Airport at Nagpur, (www.madcindia.org ), which is first and only such kind of project in the country being developed in Nagpur by a joint venture between Maharashtra Airport Development Corporation (MADC) and the Airport Authority of India (AAI). Second Capital and third big city in Maharashtra. Nearby is the new VCA cricket stadium. Last edited by seuli : 04-25-2007 at 09:46 AM.

04-25-2007	#2
Armaan Member Join Date: Oct 2006 Posts: 32	Mihan Project *I'd like to throw some light on MIHAN as Mr. Rajesh has cited.* MIHAN PROJECT The under-planning MIHAN project will be spread over 4,025 hectares and, when completed, it is going to be one of the biggest cargo hubs in Asia. Besides the airport, the proposed project involves a road-rail terminal, a special economic zone (SEZ) and other urban amenities. An IT park spread over 400 hectares in the SEZ will house IT majors like Satyam Computers, TCS, Patni Computers as well as Microsoft. Dell too has evinced interest in Nagpur. The Boeing MRO facility has alrady been talked about. In the Special Economic Zone, units may be set up for manufacturing of goods, rendering of services, production, processing, assembling, trading, repairs, packing and repacking. In addition, attractive fiscal incentives, soft regimes of taxes for developers and entrepreneurs, productivity-friendly labour laws and simpler procedure shall also be offered in the zone, as has been available in other free trade zones all over the world. A separate 60 hectares have been allocated within the SEZ for the Health City, which is expected to provide about 2,000 beds in various multi-speciality hospitals. Private players will operate one or more specialised units in the Health City. The proposed Health City, envisaged as the preferred destination for health tourists all over the world, shall be located in the SEZ, providing the operators tax concessions and other benefits as per the SEZ Act 2005.

01-06-2008	#3
punter Junior Member Join Date: Jan 2008 Posts: 3	Land Prices what is the price of land in Nagpur at the moment? I am an onverseas resident and wanted to know if there is an issue buying land (in terms of safety???) Also what new residential projects are coming up in NGP? Any ideas and thoughts would be highly appreciated. I used to go to NGP every year when I was young but have no idea as to how the city has developed/changed in the last 12 years. Regards

04-01-2008	#4
jgd1234 Junior Member Join Date: Apr 2008 Posts: 2	No isues in investing in land in Nagpur I am from Nagpur and I have seen Nagpur grow from a dusty town to a bustling clean and green city(its the 2nd greenest in india). Now its on the way to becoming a world trade city with the MIHAN project coming up fast. The land prices here have been going up faster than anywhere else in India and its the right time to jump in.The investors have reaped a rich reward in the last two years and many have got returns of close to 300-500% in land investments around MIHAN project. Last edited by seuli : 04-17-2008 at 01:59 AM.

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4 Weeks Ago	#5
realtyrider Senior Member Join Date: Apr 2008 Posts: 101	Nagpur, Maharashtra derived its name from the river Nag that flows through it. Also known as the 'Orange city' of India, Nagpur, once a small country town has in recent times metamorphosed into a metropolis with luxury apartments and condominiums, lavish showrooms, malls with multiplexes, hi-tech healthcare facilities and better infrastructure with smooth roads and flyovers. The data itself speaks for Nagpur real estate witnessing a major spurt.Moreover, this transformation in lifestyle has also seen the surfacing of a more informed and aware new generation, more disposable incomes and an increase in elite millionaires. As the city gears up as the next hub for industries and service sectors like the IT, ITES and the BPO sector - its infrastructural facilities, strategic location and connectivity to the financial capital, Mumbai are few of the many factors attracting real estate investments to Nagpur.Another favorable reason for investments into the city is the availability of workforce who are gradually shifting base to Nagpur following the growth of job opportunities and congestion in the nearby cities of Mumbai and Pune. This consistent migration into the city has led to large demand for residential spaces in the city. Housing in Nagpur is becoming simple due to real estate agents in Nagpur who know the city trends and are aware of Nagpur property prices.