Nagpur: The Second Capital of Maharashtra has witnessed significant growth in its commercial sector over the past two years, as per data of the Nagpur Municipal Corporation (NMC). Commercial properties have increased by 40.29%, reaching 50,939 from 36,308, while mixed occupancies saw a slight decline. Moreover, the number of open plots allocated for commercial activities has surged from 182 to 2,064, indicating a robust business landscape. But it has also posed many challenges.
The data reveals a promising trajectory in commercial ventures, with a substantial rise in commercial properties across various zones. Areas like Ashi Nagar and Nehru Nagar have emerged as new commercial hotspots, witnessing significant growth in commercial activities. Nehru Nagar experienced an 18% rise, while Ashi Nagar recorded the highest growth at 42.26% over the two-year period.
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Thursday 03 Oct. 2024
According to NMC data, in 2022-23, there were 6,78,673 properties, which rose to 7,00,518 in the last financial year. These figures underscore the promising trajectory of commercial ventures, signalling a vibrant business landscape & potential investment opportunities.
In 2022-23, there were 182 open plots designated for commercial activities which increased significantly to 2,064 in 2023-24. This rise has resulted in a reduction in open plots reserved for residential purposes. Specifically, the number of open plots for residential use decreased from 127,684 in 2022-23 to 11,627 in 2023-24.
The commercial property data revealed saturation in the city’s older areas like Gandhibagh and Mahal, while areas such as Ashi Nagar and Nehru Nagar emerged as new commercial hotspots. Nehru Nagar witnessed an 18% rise in commercial properties, climbing from 10,715 to 12,628.
Similarly, Ashi Nagar zone recorded the highest commercial activity growth, soaring by 42.26% over the two-year period. In 2022-23, there were 7,804 commercial properties, which surged to 11,103 in the last financial year. Commercial properties under Gandhibagh zone rose to 10,453 from 9,559 properties.
Concerns and challenges:
Despite the positive trend, concerns arise regarding unauthorized conversion of residential properties for commercial purposes. NMC’s Property Tax Department data highlights nearly 1,584 instances of such unauthorized conversions, indicating the need for urgent regulatory measures to ensure proper utilization of spaces and adherence to urban planning standards.
The unauthorized conversion of residential properties for commercial use has also impacted the city’s infrastructure, particularly internal roads. Areas like Dhantoli, Ramdaspeth, and Dharampeth are experiencing increased pressure on roads, leading to incidents of road rage over parking.
Addressing the issue of unauthorized conversions requires immediate attention and regulatory measures to safeguard residential spaces and uphold urban planning standards. Moreover, infrastructure development plans should prioritize improving road networks to alleviate congestion and parking issues in commercial areas.
According to NMC sources, the exploitation of residential properties for commercial gains has been rampant, with some zonal offices allegedly complicit in overlooking such violations for personal gain. Moreover, many occupants have been found concealing commercial activities conducted in residential premises.
These challenges underscore the need for stricter regulations and enforcement mechanisms to curb unauthorized conversions and alleviate the strain on urban infrastructure caused by unchecked commercialization of residential spaces.
Nagpur’s commercial sector is on a promising trajectory, with significant growth in commercial properties and emerging hotspots. However, addressing challenges such as unauthorized conversions and infrastructure strain is crucial to sustaining this growth and ensuring a conducive business environment.
