- 10 January 2018
For years, Mumbai and Pune come to mind when one thinks of urban hotspots in Western India. While both cities can stake a claim to being coveted employment and business destinations that attract migrants from across India and the world, a new entrant is fast-emerging. Identified as a future mega city, Nagpur is today widely acknowledged as a fast-growing urban center and a strong contributor to India’s economic growth. From being known primarily as the orange city of India, Nagpur is today an important industrial hub with thousands of Micro, Small and Medium Enterprises (MSME). The city is one of the fastest growing in Maharashtra and an economic and political hub.
The future course of business in Nagpur
Considering the Government’s policies to develop Nagpur as an important commercial and industrial centre, it is little wonder that many leading IT and IT related companies have already established base in Nagpur. Moreover, as mentioned above, Nagpur has always been a politically well-connected city; after Mumbai, Nagpur is the only other city in Maharashtra to have a Raj Bhavan and Vidhan Bhavan.
The real estate sector in Nagpur is also on a growth trajectory, with the MIHAN (‘Multi-modal International Cargo Hub and Airport at Nagpur’) project expected to boost the city’s prospects further.
Nagpur, though chosen as a Smart City in September 2016 much after 33 Smart Cities announced earlier in two previous rounds, achieved the best Investment Conversion Ratio (‘ICR’ - the extent of conversion of approved smart city plans into investments through ground level implementation – 90% and above) among all selected Smart Cities in Maharashtra
Moreover, Nagpur is a major education centre attracting students from across India, with its own IIM (Indian Institute of Management), the VNIT (Visvesvaraya National Institute of Technology), engineering and medical colleges, and agro and fishery universities too. Founded in 1923, the Rashtrasant Tukadoji Maharaj Nagpur University is one of India’s oldest universities.
It has a robust network of roads, public transport hubs, shopping malls, multiplexes, restaurants, and public amenities like parks and gardens. Interestingly, Nagpur is also well-known as a foodie’s paradise.
Why you should invest in Nagpur
It is difficult to ignore Nagpur’s growing prominence as a business and residential hub. And as business and work opportunities grow, so does the demand for quality properties in Nagpur.The good news is that reputed real estate developers have already established a presence in the city – you can find a spate of ready possession flats in Nagpur, in areas like Dahegaon, Trimurti Nagar and Mangalwari Bazaar. These projects encompass posh gated complexes and boast modern amenities and features. You can find a luxury flat for sale in Nagpur, built to your exacting standards and finished to perfection. New residential projects feature amenities such as swimming pools, clubhouses, walkways and exercise areas, children’s play area, etc. Moreover, with several infrastructure projects taking off in and around the city, properties in Nagpur have significant potential for appreciation in value.
Above all, your spacious and thoughtfully designed flat in Nagpur can be the harbinger of many happy memories in a fast developing city that many love to call home.