Now in the fast lane to development, Nagpur is well on its way to becoming the country's prime real estate investment destination
Nagpur is currently witnessing one of the biggest real estate booms in the country. The wellplanned large scale development of the region hinging on the Multimodal International Hub Airport and the Special Economic Zone is the primary attraction for investors. NRI's, nationals and local citizens are snapping up land and property in and around the city, some for personal use, others for investment. However, most people are rather confused with so many properties available and find it difficult to decide on the most suitable property to buy.
Property Fair - 2016
To help customers make up their minds The Times of India has arranged for buyers and sellers to congregate under one roof at a three-day 'Times Property Fair' on October 12, 13 and 14, 2007 at the Ladies Club Lawns, that promises to give Nagpurians their first taste of a professional property fair, bringing together the who's who of the property world in Central India.
The fair will include prominent participants including land developers, realty marketing companies, property consultants, housing finance corporations, property dealers, renowned architects and what have you.
Property fairs help a lot in providing real estate market a great platform to reach out to their target audience. Stalls at the fair will help the formation of a transparent marketing channel between buyers and sellers and help customers avoid dubious real estate brokers.
WHY NAGPUR?
Nagpur, erstwhile capital of M P and now second capital of Maharashtra, has shot into the limelight in the recent past thanks to the spate of development taking place in the city. The price of real estate in this once obscure city has grown a hundred fold; big real estate players including DLF, K. Raheja, Avani Projects, Shapoorji Pallonji and a host of others are making a beeline for the city or are already here.
Aircraft giant Boeing is developing a $100 million regional maintenance, repair and overhaul (MRO) facility unit for Asia; the likes of Satyam, HCL, TCS, Reliance, Ascendas and many more are flocking to the area; several five-star hotels and IT parks are in the pipeline.
What is so special about Nagpur that it has attracted such enviable investment?
Being developed by the state government and the local administration as the growth nucleus of Central India, Nagpur, the third largest city of the most progressive state of India with a population of close to 3 million people today ranks a creditable third among India's much-touted tier-II cities.
To cater to the growing the increasing importance of the city and the manifold increase in the vehicle population, the "Nagpur City Integrated Road Development Program" was undertaken resulting in a complete makeover. Clean, wide, smooth roads, excellent lighting, well-maintained side walks, beautiful landscaping and plush gardens are making Nagpur one of the country's best maintained cities, attracting investors both domestic and international, and changing the way its citizens consume and play.
Nagpur's impressive City Development Plan under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) helped it become first city in the country to receive sanction of 1000crores as the first installment for development. The City Development Plan (CDP) prepared by the Municipal Corporation paves the way for achieving the vision of making Nagpur 'Growth Nucleus of Central India'.
FUELLING GROWTH
Fuelling the city's envious growth is the state government's ambitious project - MIHAN.
Nagpur will soon have the distinction of being the only city in this part of the world to have a Multimodal International Hub Airport for Passengers and Cargo. The ambitious project will be spread across a sprawling 4025 Hectares, and promises to be the growth engine of the entire region, not just Nagpur alone.
A 1,475-Hectare Special Economic Zone {SEZ} has already been sanctioned by the Ministry of Commerce. The Special Economic Zone adjacent to the International Hub Airport will offer high quality infrastructure facility and support services and allow duty free import of capital goods and raw materials.
Bringing Nagpur onto the IT Map will be a 400-hectare IT City which will house BPO activities, call centers, data centers, software production houses, animation studios etc. Plans are made to provide worldclass infrastructure in terms of connectivity, power and water supply at most economical cost. Leading I.T. Companies have already booked space here. Satyam Computer Services Ltd. have signed a MOU for 100 Acres of land for setting up their campus in the MIHAN, SEZ; Ascendas, one of Asia's largest developers of business properties, will develop a 63-acre Business Park in Nagpur, Also a part of the SEZ is a state of the art Health City spread over 60 Hectares of land within the SEZ. It will provide about 2000 beds in various multispecialty hospitals.
About Alexis Hospital
Alexis Hospital is an offering and initiative of the Zulekha Healthcare group, UAE to help serve the entire Central India community by providing the highest quality of medical care across various disciplines.
Alexis Hospital is designed to provide quality and affordable experience for patients with an aesthetic and warm atmosphere. The Hospital will have a team of renowned specialists and medical personnel supported by latest cutting-edge technology offering all-round care and comfort.
The advanced technology combined with all-round expertise ensures the best in diagnostic, curative as well as preventive aspects of healthcare.
INTERNATIONAL PRESENCE
By far the most attractive investment in MIHAN is by aircraft giant Boeing. The Maharashtra Airport Development Company allocated 75 acres of land to Boeing to set up its prestigious $100 million maintenance repair and overhaul (MRO) facility.
Justifying their decision to invest here, Dinesh Keskar, vice president of Sales, Boeing Commercial Airplanes said "We believe that Nagpur will be an excellent location for the Boeing MRO facility because of the tremendous investment being made in the area by both government and private companies."
REAL ESTATE
The arrival of big players in the city in the field of IT, retail, health care, hospitality etc has sent real estate watchers into a tizzy. The spoils of this influx have already started reflecting in the skyrocketing price of prime real estate. Big developers who are planning new townships such as the Satyam Group has acquired around 400 acres of land on Wardha Road. The Sahara City Township is already in full swing. Local builders too have purchased substantial amounts of land for constructing housing complexes just outside the city. The anticipation of tremendous growth in the near future has spurred real estate investment in the city. The land rush is not just a local happening, with NRI's and investors from far off places like Bangalore, Hyderabad, Kolkata and of course, Mumbai going all out to purchase land in the city. Investing in property in Nagpur today ranks high on the list of investors looking for substantial returns for their surplus money.
THE NAGPUR EDGE
Nagpur's location advantages too are being suddenly looked upon as a major catalyst for growth with major and minor players wanting to set up shop here for its logistical advantages.
The city administration has a three-way development plan for Nagpur - IT, Education and Health. Nagpur is already a major education destination with a large number of Engineering and Medical colleges located in and around the city. Approximately 8600 engineering students graduate each year a virtual bonanza for recruiters. State of the art private hospitals provide the best possible medical and rehab services in the city. The Health City planned in the SEZ would help in making the city a distinct Health Care hub. Thousands of students graduate from the Nagpur University every year, with 5000 more emerging postgraduates thereby representing a huge workforce.
Young workers of the city who can now be found in a sizeable number in the major BPO firms located in Mumbai, Pune, Hyderabad and Bangalore will soon return home when the city offers employment in IT enabled services, skilled and unskilled jobs in the construction industry which is witnessing a boom, large retail malls and entertainment centre and all levels of management. The above average infrastructure, which include great roads, connectivity and availability of telecom links and of the fast emerging Nagpur's reputation as a major educational centre for central India makes it the ideal real estate investment destination in the country. The city isn't just catching up with other tier-II towns, but will soon be setting new benchmarks for them.
Nagpur is currently witnessing one of the biggest real estate booms in the country. The wellplanned large scale development of the region hinging on the Multimodal International Hub Airport and the Special Economic Zone is the primary attraction for investors. NRI's, nationals and local citizens are snapping up land and property in and around the city, some for personal use, others for investment. However, most people are rather confused with so many properties available and find it difficult to decide on the most suitable property to buy.
Property Fair - 2016
To help customers make up their minds The Times of India has arranged for buyers and sellers to congregate under one roof at a three-day 'Times Property Fair' on October 12, 13 and 14, 2007 at the Ladies Club Lawns, that promises to give Nagpurians their first taste of a professional property fair, bringing together the who's who of the property world in Central India.
The fair will include prominent participants including land developers, realty marketing companies, property consultants, housing finance corporations, property dealers, renowned architects and what have you.
Property fairs help a lot in providing real estate market a great platform to reach out to their target audience. Stalls at the fair will help the formation of a transparent marketing channel between buyers and sellers and help customers avoid dubious real estate brokers.
WHY NAGPUR?
Nagpur, erstwhile capital of M P and now second capital of Maharashtra, has shot into the limelight in the recent past thanks to the spate of development taking place in the city. The price of real estate in this once obscure city has grown a hundred fold; big real estate players including DLF, K. Raheja, Avani Projects, Shapoorji Pallonji and a host of others are making a beeline for the city or are already here.
Aircraft giant Boeing is developing a $100 million regional maintenance, repair and overhaul (MRO) facility unit for Asia; the likes of Satyam, HCL, TCS, Reliance, Ascendas and many more are flocking to the area; several five-star hotels and IT parks are in the pipeline.
What is so special about Nagpur that it has attracted such enviable investment?
Being developed by the state government and the local administration as the growth nucleus of Central India, Nagpur, the third largest city of the most progressive state of India with a population of close to 3 million people today ranks a creditable third among India's much-touted tier-II cities.
To cater to the growing the increasing importance of the city and the manifold increase in the vehicle population, the "Nagpur City Integrated Road Development Program" was undertaken resulting in a complete makeover. Clean, wide, smooth roads, excellent lighting, well-maintained side walks, beautiful landscaping and plush gardens are making Nagpur one of the country's best maintained cities, attracting investors both domestic and international, and changing the way its citizens consume and play.
Nagpur's impressive City Development Plan under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) helped it become first city in the country to receive sanction of 1000crores as the first installment for development. The City Development Plan (CDP) prepared by the Municipal Corporation paves the way for achieving the vision of making Nagpur 'Growth Nucleus of Central India'.
FUELLING GROWTH
Fuelling the city's envious growth is the state government's ambitious project - MIHAN.
Nagpur will soon have the distinction of being the only city in this part of the world to have a Multimodal International Hub Airport for Passengers and Cargo. The ambitious project will be spread across a sprawling 4025 Hectares, and promises to be the growth engine of the entire region, not just Nagpur alone.
A 1,475-Hectare Special Economic Zone {SEZ} has already been sanctioned by the Ministry of Commerce. The Special Economic Zone adjacent to the International Hub Airport will offer high quality infrastructure facility and support services and allow duty free import of capital goods and raw materials.
Bringing Nagpur onto the IT Map will be a 400-hectare IT City which will house BPO activities, call centers, data centers, software production houses, animation studios etc. Plans are made to provide worldclass infrastructure in terms of connectivity, power and water supply at most economical cost. Leading I.T. Companies have already booked space here. Satyam Computer Services Ltd. have signed a MOU for 100 Acres of land for setting up their campus in the MIHAN, SEZ; Ascendas, one of Asia's largest developers of business properties, will develop a 63-acre Business Park in Nagpur, Also a part of the SEZ is a state of the art Health City spread over 60 Hectares of land within the SEZ. It will provide about 2000 beds in various multispecialty hospitals.
About Alexis Hospital
Alexis Hospital is an offering and initiative of the Zulekha Healthcare group, UAE to help serve the entire Central India community by providing the highest quality of medical care across various disciplines.
Alexis Hospital is designed to provide quality and affordable experience for patients with an aesthetic and warm atmosphere. The Hospital will have a team of renowned specialists and medical personnel supported by latest cutting-edge technology offering all-round care and comfort.
The advanced technology combined with all-round expertise ensures the best in diagnostic, curative as well as preventive aspects of healthcare.
INTERNATIONAL PRESENCE
By far the most attractive investment in MIHAN is by aircraft giant Boeing. The Maharashtra Airport Development Company allocated 75 acres of land to Boeing to set up its prestigious $100 million maintenance repair and overhaul (MRO) facility.
Justifying their decision to invest here, Dinesh Keskar, vice president of Sales, Boeing Commercial Airplanes said "We believe that Nagpur will be an excellent location for the Boeing MRO facility because of the tremendous investment being made in the area by both government and private companies."
REAL ESTATE
The arrival of big players in the city in the field of IT, retail, health care, hospitality etc has sent real estate watchers into a tizzy. The spoils of this influx have already started reflecting in the skyrocketing price of prime real estate. Big developers who are planning new townships such as the Satyam Group has acquired around 400 acres of land on Wardha Road. The Sahara City Township is already in full swing. Local builders too have purchased substantial amounts of land for constructing housing complexes just outside the city. The anticipation of tremendous growth in the near future has spurred real estate investment in the city. The land rush is not just a local happening, with NRI's and investors from far off places like Bangalore, Hyderabad, Kolkata and of course, Mumbai going all out to purchase land in the city. Investing in property in Nagpur today ranks high on the list of investors looking for substantial returns for their surplus money.
THE NAGPUR EDGE
Nagpur's location advantages too are being suddenly looked upon as a major catalyst for growth with major and minor players wanting to set up shop here for its logistical advantages.
The city administration has a three-way development plan for Nagpur - IT, Education and Health. Nagpur is already a major education destination with a large number of Engineering and Medical colleges located in and around the city. Approximately 8600 engineering students graduate each year a virtual bonanza for recruiters. State of the art private hospitals provide the best possible medical and rehab services in the city. The Health City planned in the SEZ would help in making the city a distinct Health Care hub. Thousands of students graduate from the Nagpur University every year, with 5000 more emerging postgraduates thereby representing a huge workforce.
Young workers of the city who can now be found in a sizeable number in the major BPO firms located in Mumbai, Pune, Hyderabad and Bangalore will soon return home when the city offers employment in IT enabled services, skilled and unskilled jobs in the construction industry which is witnessing a boom, large retail malls and entertainment centre and all levels of management. The above average infrastructure, which include great roads, connectivity and availability of telecom links and of the fast emerging Nagpur's reputation as a major educational centre for central India makes it the ideal real estate investment destination in the country. The city isn't just catching up with other tier-II towns, but will soon be setting new benchmarks for them.
