Popularly known as India’s ‘Orange City’, Nagpur has steadily transformed itself into a much sought-after investment hotspot in the country. With major infrastructural and industrial development underway, Nagpur has attracted the attention of homebuyers and investors like.
Here’s what makes Nagpur the hotbed for real estate investment:
1. Industrial hub: Nagpur is known for its mining industry, with many government-owned mining companies headquartered here. The famous Butibori Industrial Estate, which is the biggest industrial estate in Asia, is located in Nagpur, and houses companies like Gammon India, Hyundai Unitech, Rama Synthetics, ACC Nihon Castings etc. The west of Nagpur has more than 900 industrial units, including major companies like Haldirams, Vicco, Ajanta Toothbrushes and Mahindra and Mahindra.
2. Infrastructural expansion: Nagpur is all set to be the next major IT hub in India. Infosys and TCS have already set up their campuses in the Multimodal International Hub Airport (MIHAN) area. MIHAN is being designed to serve as a cargo hub, along with non-polluting industries being set up here. This has given the city of Nagpur a major infrastructural boost. The Butibori Industrial Estate, the proposed Communication Super Expressway (connecting Nagpur to Mumbai) and the proposal to set up premium educational institutes like IIM and AIIMS will significantly contribute to Nagpur’s infrastructural growth story. These developments will also boost the population of professionals in the city, increasing the demand for housing.
3. Excellent connectivity: Nagpur shares excellent connectivity across the country via road, rail and air. The Nagpur Metro is ready to be launched, providing seamless connectivity across the city. The International Airport and the Nagpur-Mumbai Expressway are some of the other connectivity highlights.
4. Tourist attractions: A popular tourist destination, Nagpur is dotted with famous sites like Sitabuldi Fort, Seminary Hills, Deekshbhoomi, Maharajbhaj Zoo, Aadasa Temple, Ambazari Lake, Shukrawari Lake and Futala Lake. The city is also known for its many tiger sanctuaries-- Bor Tiger Reserve, Pench National Park, Melghat Tiger Reserve and Tado-Andhari Tiger Reserve. This ensures a regular influx of tourists and regular demand for real estate.
5. Better standards of living: With affordable property prices, excellent social infrastructure, good connectivity, wide range of real estate projects and pleasant weather, Nagpur offers its residents an unparalleled quality of life. It is also the third greenest city in India.
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Bloomdale a residential project by Mahindra Lifespaces in MIHAN, Nagpur.
