Nagpur is the third biggest city in the state of Maharashtra and it is placed almost 900 kilometers from the capital city Mumbai. Investing in Nagpur has many advantages and can lead to great business opportunities and ventures. Nagpur is one of the cities with the best quality of life when you take factors like transport, health care, employment opportunities and studying into consideration.
The literacy rate is also better than most of the cities in India coming up at 93%. The city has advanced and modernized its infrastructure and the real estate business is really booming. As in any city, there are different types of properties to choose from, and real estate price trends are catching up with the best cities in India such as Mumbai.
Here are the things that make Nagpur a great place for property investments.
Nagpur is a well-connected city, with well-developed infrastructure. This is something that must be taken into consideration.
- Airport: Dr.B.R.Ambedkar airport in Nagpur was built with the first World War and now it has become an international airport that allows the city to be connected to the whole world. Its most frequent connections are to countries like Saudi Arabia, Singapore, and UAE. The airport is still advancing and updating, and it is being expanded to multi-modal international cargo hub.
- Roads: Nagpur has two major national highways (NH 6 and NH7). Both these highways pass through the city allowing a stable traffic flow and connections to other cities.
- Railways: Are one of the most used transportations in India, and Nagpur has the biggest and oldest train station with 242 trains connecting you with every part of the country.
- Nagpur Metro: This advanced system of transit was just recently built and it had one purpose, to boost economic development and to reduce traffic jams in the city.
Just because Nagpur’s industrial industry is one of the main sources of income for the city with all the government owning mining companies. Companies like Butibori which is the largest Industrial estate company in Nagpur, allow the price for the real estate project to lower down and also has different job opportunities to offer.
The education system is advancing in Nagpur and it has many different opportunities to offer to students due to recent branch expansion. Nagpur has 27 engineering colleges, 13 medical colleges, 27 sports colleges, which have the bestcollege footballrankings. They are constantly working to expand their education system and open new places for students.
Nagpur’s tourism is still in development and has much more to offer to attract tourists from all across the world. However, the tourism sector in Nagpur is still one of the main economic sources of income. Tourist destinations like Sitabuldi Fort, Deekshbhoomi, Seminary hills, Maharajbhaj Zoo are one of the main tourist attractions.
In order to find out is Nagpur a good idea to invest in property, you have to look at the real estate market and check the price trends of all the properties. In the last six months, Nagpur had experienced a small fall in the property price rate. However, there are still properties (93 exactly) that have an upward trend, for example Hingnaarea experienced 90% increase in price per square foot. The price of properties in Nagpur starts from ₹ 100000 and it seems like it is the perfect destination for your new property investments.
Nagpur’s architecture is considered a huge benefit for your property investment just because most of the new buildings are modern and infused with technology. There are still properties with low prices that you can invest in and get a huge return if you decide to sell them.