Emerging Indian cities in proximity to the metros are drawing the realty market’s attention. One reason for this growing interest may be the saturation of markets in big cities and metros. However, experts are of the opinion that the rising level of economic activity in cities like Nagpur is one of the primary factors driving the interest in such cities. The Orange city has been highlighted as a major investment destination in the current real estate scenario in a survey conducted by ASSOCHAM:http://content.magicbricks.com/industry-news/other-cities/nagpurs-realty-market-is-enticing-metro-investors/74664.html
Besides the earmarked US$ 7.5 Billion for the development of 100 smart cities, the government of France, in partnership with the Indian government, has committed to invest an additional Euro 2 Billion towards the development of 2 smart cities, one of which is Nagpur. This interest coupled with the government’s favorable policies and plans would undoubtedly provide a good springboard for the construction and infrastructure sectors in the city. And the realty sector would be a major beneficiary of the development of the city’s infrastructure; thus, buying an apartment in Nagpur becomes even more lucrative for real estate investors.
Geographically, Nagpur sits in the center of the country at Zero Mile – the geographical center of India. Moreover, it is known as the Tiger Capital of India since it connects many Indian tiger reserves to the world. Its close proximity to Mumbai has led to the conceptualization of a Nagpur-Mumbai super expressway that would connect 14 districts in Maharashtra to JNPT. Planned to be operational by 2019, this dedicated railway line aims to connect all ports and thereby facilitate port-led development. Already an established educational hub with multiple medical and engineering colleges, Nagpur is also on the radar of technology companies as a potential IT offshore location.
With all these developments on the cards, Nagpur’s real estate market certainly has an exciting and promising future. If there is a right time to invest in a property in Nagpur, it is now.