No announcement yet.

Nagpur Locality, Property Rates and Price Trends


Nagpur Locality, Property Rates and Price Trends

Last updated: March 28 2018
0 | Posts
799 | Views
  • Time
  • Show
Clear All
new posts

  • Nagpur Locality, Property Rates and Price Trends

    Nagpur, the central city of India is also the third most important city of Maharashtra after Mumbai and Pune. Nagpur is located at the centre of India’s peninsula. A survey conducted by the ABP News-Ipsos Group had adjudged Nagpur to be the most liveable city in India, in terms of health care facilities, educational facilities and other amenities.

    Two of the country’s most important highways pass through Nagpur - the Varanasi-Kanyakumari or NH7 and the Kolkata-Hajira NH 6. The NH69 connects Obaidullaganj close to Bhopal with Nagpur. The city is also at the confluence of two Asian Highways- the AH46 from Dhule to Kharagpur and AH 43 to Matara, Sri Lanka from Agra. The Mumbai-Aurangabad-Nagpur Express Highway connects Mumbai with the city through Aurangabad and lowers the distance between NH 3 and NH6.

    For interstate and intercity travel, the MSRTC has two bus stations in the city- at Mor Bhawan in Jhansi Rani Square, at Sitabuldi and Nagpur Bus Sthanak situated in Ganeshpeth. Nagpur Mahanagar Parivahan Limited or NMPL also operates low floor Star Buses which serve roughly 2.5 lakh citizens every day.

    There are 260 train stops at the Nagpur Junction which include Rajdhani Express, Passenger and Mail and roughly 1.5 lakh passengers travel in these trains every day. The city has one airport - Dr Babasaheb Ambedkar International Airport.

    The Nagpur real estate sector is showing a positive trend, thanks to the easily accessible modes of transport.

    Educational and healthcare facilities
    Nagpur has numerous educational institutions (Visveswaraya National Institute of Technology) are located in the city. An AIIMS and IIM have been planned for the city. The healthcare facilities of the city have been classified to be the best throughout the country. Numerous government hospitals and a few private ones cater to people from Orissa, Chhattisgarh and Madhya Pradesh.

    Industries and other Projects

    MIDC Industrial Areas

    Nagpur is one of the important zones for power generation in the state. Its industrial area in Butibori is one of the largest in the continent. Some of the thermal power stations that operate in the city include Khaparkheda Thermal Power Station and Koradi Thermal Power Station. The Super Thermal Power Plant of Mauda is roughly 40 kilometres from here.

    The Hingna Industrial Estate towards the city’s western fringes has 900 SMEs set up. One of the largest firms is owned by Mahindra and Mahindra which manufactures tractors. With such a large work force required, property in Nagpur seems to have found the pace to cater to them. Some of the other companies based here are Candico, Bajaj Auto Group, Sanvijay Group and Ajanta Toothbrushes. The city is also the centre of production for ice cream makers Dinshaws and dry food makers, Haldirams. Ayurvedic product makers, Baidyanath and Vicco are also situated here.

    Multimodal International Cargo Hub and Airport located in Nagpur or MIHAN is being developed for Dr. Babasaheb Ambedkar International Airport. It is the largest economic development project which aims to make use of Nagpur’s central position. Two cargo hubs shall be there with rail and road connectivity. The project is being financed by Indian banks and the Airports Authority of India. TCS is currently busy building a campus of 50 acres on the MIHAN SEZ. Infosys has also commenced construction in the IT SEZ. Other companies that have a presence here include Wipro Technologies, HCL Technologies and Tech Mahindra. The Nagpur property is therefore a sought after property in the state of Maharashtra.

    Nagpur Metro Railway
    The Nagpur Metro Railway project was announced by Maharashtra’s government. It shall be undertaken in two phases- Phase I which runs from MIHAN to Sitabuldi and Butibori through the Airport and the second Phase of 20 kilometres from Automotive Square in Kamptee to Sitabuldi. The Delhi Metro Railway Corporation shall study the alignment and provide a detailed project report. The Nagpur Metro Transport Co Ltd. will be spearheading the development of the project, in collaboration with the NIT.

    Some statistics
    Number of properties listed in Nagpur - 15010
    Properties in Nagpur start from – Rs. 96750
    Average price of properties in Nagpur – Rs. 31.63 lakhs
    Most expensive property listed in Nagpur - priced at Rs. 29.00 crore
    Number of localities in Nagpur showing an upward trend - 61
    Numbers of localities in Nagpur showing a downward trend - 46


    The figures are taken from one source and may vary from source to source. Members are more than welcome to give their real time inputs.

Have any questions or thoughts about this?