The Real Estate Nagpur is booming due to the recent change in the government. More over the permission for high-rise building is permit up to 20 floors in Nagpur has boosted up many mega residential projects. It is now an investment place for NRI’s, by its local people, and from the neighboring district masses. The present government also implemented many infrastructure projects in Nagpur. Presently this is a buyer’s market in residential real estate and an investment market too to ripe in the long-run. The prices of residential properties are comparatively cheaper than other metro cities.
Conventional Homes of Nagpur now for Ready for Collective Investment Projects
The residential properties of Nagpur city is of traditional and conventional type. Either there are many types of bungalows, independent homes and row house in the city and its outer regions. The present government have approved for township and urbanization of the city have encouraged the conventional homeowners to come for collective investment residential projects buy joint efforts with real estate agents in Nagpur. Now they are ready to give their land and sacrifice their homes to reside in flats. The local builders are more benefit by promoting collective investment in residential flats. Now you can find many such builders floor flats within the city limits and its suburbs. These are low raised buildings and present in all location where civic infrastructure are present.
Major Location in Nagpur for Residential Projects
- Northern parts of Nagpur consist of residential places like Friends Colony, Mecosa Baug, Zingabai Takli, K T Nagar, Jari Patka, Indora, Koradi Road, Tekanaka, Gorewada and Byramji Town. The price starts from INR 5,500 per square feet to INR 6,500 per square feet in these areas.
- Southern parts of Nagpur consist of residential places like Manewada, Chinchbhuvan, Somalwada, Trimurti Nagar, Hanuman Nagar, Wardha Road, Pratap Nagar, Pandey Layout, Swavalambi Nagar, Besa and Narendra Nagar. The price starts from INR 2,650 per square feet to INR 4,500 per square feet in these areas.
- Eastern parts of Nagpur consist of residential places like Surya Nagar, Wanjari, Ayodhya Nagar, Old Bhandara Road, Reshim, Bagh, Kalamna Market, East Wardhaman Nagar, Lakadganj, Panchpaoli and Deshpandey Layout. The price starts from INR 3,000 per square feet to INR 4,000 per square feet in these areas.
- Western parts of Nagpur consist of residential places like Shivaji Nagar, Ravi Nagar, Amravati Road, Jaitala, Ram Nagar, Vayusena Nagar, Higna Road, Dharampeth, Bajaj Nagar and Laxmi Nagar. The price starts from INR 2,800 per square feet to INR 8,500 per square feet in these areas.
- Central parts of Nagpur consist of residential places like Sagar Lake, Sitabuldi, Chhoti Dhantoli, Mahal, Civil Lines, C A Road, Ramdaspeth, Cotton Market Gandhi and Sadar. The price starts from INR 7,000 per square feet to INR 9,000 per square feet in these areas.
The above places are in development phase only and more number of residential projects is expecting of high-rise building in these areas of Nagpur.
Prospective Place to Invest in Nagpur for Shrot-term Returns
If you are looking for short-term gain from property investment in Nagpur, the following places are best like Somalwada, Ramdaspeth, Dharampeth, Laxmi Nagar, MIHAN, Wardhaman Nagar, Civil Lines and Pratap Nagar. Since, these are main area of business and have very good public infrastructures. This is also a place for NRI’s interest in investment in Nagpur realty business. There are many proposed high-rise projects of residential and commercial spaces are there in these places. These real estate developments will definitely change the face of Nagpur soon as urban city.