East West Commercial Real Estate

Nagpur is famed as the ‘Orange City’ of India, has transformed over the last few years into a metropolis embellished with high end living, luxurious residential complexes, improved infrastructure and sound healthcare facilities. The third largest city of Maharashtra following Mumbai and Pune respectively, Nagpur is fast emerging as the upcoming Industrial and Multinational hub.

Nagpur is sprawling to become a potential real estate market with the developing commercial and residential sectors. According to the 2001 Census, Real Estate Property Agents Nagpur is the country’s 13th largest urban agglomeration.   

Transformation in lifestyle and social set up has triggered a more talented, aware and informed generation that seeks quality living and a sound employment scenario. As Nagpur is bracing further to accommodate further commercial expansion by IT, I.T.E.S and BPO Sectors, factors such as sound infrastructural amenities, vital location and sound connectivity to Mumbai cater immensely to the real estate investments multiplying in the city.

Another crucial reason for the expanding Nagpur real estate is the huge inflow of working professionals shifting base to the city with the growing job opportunities generated by the widening commercial sector. The consistent transfer of individuals into the city with the upcoming commercial sector has led to further development in the residential sector.

Nagpur is undergoing significant economic boom over the recent times. With the developing commercial inflation, there have been significant demands for residential spaces across the city.

The realty sector of the city is thus witnessing price hikes with increasing demands from the commercial as well as residential segments.

The property trends ascribing to the commercial sector are on an upturn with the availability of abundant land at affordable rates. Investments from prime multinational companies, IT and BPO firms have led to increasing demand for office and marketing spaces. The values of the commercial segment have considerably increased with the growing demand that flow in. the realty graphs also undergo an upswing with the increasing operational bases of prominent firms being established in the city.

With a wave of eminent firms such as Genpact, Wipro and Infosys setting base in the city, the real estate values are expected to further inflate giving significant economic boost to the city. Also, the value figures of Maharashtra Airport Development Authority (MADC) is Rs.80000 per acre, whereas property prices of upcoming commercial areas of Nagpur are touching the limit of Rs.2 crore per acre. 

Nagpur’s residential sector is emerging significantly in the real estate market of the city. The residential sector is being expanded to the peripheries of the city like its north-west, north-east and southern fringes. Properties in areas such as Civil Lines, Dhantoli, Shankar Nagar and Ramdaspeth command high prices such as Rs.3500/sq.ft. Whereas rates of residential colonies like Pratap Nagar, Surendra Nagar and Vardhaman Nagar range between Rs.1200 to Rs.2000/sq.ft.

Residential projects like Pioneer Regency are also floating on high priced values, accelerating enormous real estate benefits for the city.

The retail sector is also fast picking up the upward trend with expanding shopping arenas. The market of property in Nagpur is escalated by demands for land for the expansion of retail sector to satisfy shopping needs of the city’s population. There have been considerable investments from potential builders and property financers for developing luxurious shopping malls for a lavish shopping experience.

The realty market is therefore further augmented with the consistently growing commercial, residential and retail advancements.

The city is witnessing substantial growth in its real estate with the intense requirements for properties. With the interests of prospective NRI buyers is also escalating property values in Nagpur. Property investments in the city are expected to increase further triggering development on a higher scale in the real estate segment. Nagpur is increasingly being viewed as a ripe location for investing in large-scale property deals.