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New Residential Projects in Nagpur

Displaying 1 - 3 of 3 total results

Bokhara, Nagpur, Bokhara, Nagpur

2, 3 & 4 BHK Villa Flats
613 Sq.ft To 1830 Sq.ft Carpet Area
On Request
Gruhlaxmi Lifespace Pvt Ltd
Investor / Resale Options Available
+91 98205 75619

Mahalaxmi City in Koradi Road, Nagpur by Gruhlaxmi Life Space is a residential project. The project offers 2 BHK, 3 BHK Apartment and 4 BHK Villa with perfect combination of contemporary architecture and features to provide comfortable living.Location:-Nagpur is a large city in the central Indian st...

Mihan, Mihan, Nagpur

1 BHK, 2 BHK, 3 BHK, 4 BHK Flats
739Sq.ft To 2420 Sq.ft
Rs 42 Lacs Onwards
Mahindra Lifespaces
Investor / Resale Options Available
+91 98205 75619

Mahindra Lifespaces presents one of its kind project Bloomdale. This project is situated at Mihan, Nagpur. This residential project is spread on 25 acres of land that comes with a unique concept of having Tower, Row Houses & Duplex homes. The configuration varies from 1 BHk to 4 BHK with world c...

Model Mill Compund, Ganesh peth , Nagpur

2 BHK, 3 BHK & 4 BHK Flats
1321 Sq.ft To 5935 Sq.ft
Rs 77.27 Lacs Onwards
Godrej Properties Limited
Investor / Resale Options Available
+91 98197 02366

GODREJ ANANDAM located at Ganeshpeth Nagpur is a grand location with 2,3,4 BHK apartments. As well as a free wheeling business and entertainment centre, the residents can have a swim in a swimming pool while there is a separate pool for kids. Seniors citizen can while away some time at the park havi...

Read More About Nagpur & it's Real Estate Property Market

  • Nagpur is the second capital and the third largest city in the state of Maharashtra, after Mumbai and Pune.
  • Nagpur lies at the dead centre of the country with the Zero Mile marker indicating the geographical centre of India.
  • The city was founded by the Gonds and later became a part of the Maratha Empire under the royal Bhonsale dynasty.
  • The British East India Company took over Nagpur in the 19th century and made it the capital of the Central Provinces and Berar.
  • It is also the 13th largest urban agglomeration in India and the largest city in the Vidarbha region.
  • The city is also the seat of the annual winter session of the Maharashtra state assembly - Vidhan Sabha.
  • It is a major commercial and political centre of the Vidarbha region of Maharashtra.
  • The city is also the headquarters for the Hindu nationalist organisation RSS and an important location for the Dalit Buddhist movement.
  • Nagpur has the best literacy rate, approx 93.13 percent among Indian cities with more than 20 lakhs population in India.
  • It is also known as the- Orange City - for being a major trade centre of oranges cultivated in the region.
  • Nagpur is also called the - Tiger Capital of India - as it connects many tiger reserves in India to the world.

POPULAR TOURIST ATTRACTIONS

  • Gavilgad Fort: Located at a height of about 370 ft above sea level (MSL), near the hill station of Chikhaldara in Amravati district. Historians believe that it is 200-300 years old, although the fort's history is not known till date.
  • Forts of Balapur: The forts of Balapur are named after goddess Baladevi. Balapur has turned into a seat of pilgrimage and a tourist spot over the years. It is located between the two rivers of Mana and Mhais, about 6 kms from the railway station.
  • Lonar Lake: It is the third largest natural salt-water lake in the world, after Bosmatvi Lake in Ghana, which has a diameter of 10000m and New Quebec in Canada with a diameter of 3500m. 
  • Vidarbha Pandhari Kundinpur: Located on the banks of Wardha River in Tiwsa Tehsil of Nagpur, about 120 km from the city. It is the venue of an annual ten-day fair during Karthik Purnima that attracts many devotees from the state.
  • Markandeya Temple: It is located in Chamorshi Tehsil in Gadchiroli district. The shortest route is via Milswali-Sakhri, which is about 183km. Markandi can be also reached by taking the Nagpur - Chandrapur - Mul Road.
  • Naranala Fort: Located in the Akola district and surrounded by a forest, the fort is still in a good condition and is well maintained. The fort has a fortress wall and beautiful bastions.
  • Futala Lake: It is one of the lakes in Nagpur. Built by Bhosle kings of Nagpur, the lake is known for its coloured fountains. In the evenings the place is illuminated with halogen lights.
  • Khernakala: It is a renowned tourist spot that is home to a beautiful dam, which is positioned at the fringe of the verdant woodlands known as Khapra Range Forest.
  • Adasa: This small village is the site of the ancient Ganesh temple, which houses a statue of the deity, believed to have been self-evolved. It is one of the eight Ashta Vinayaks in Vidarbha.

DEMOGRAPHICS

  • As per the 2011 census, Nagpur municipality had a population of 2,905,421, while the urban agglomeration had a population of approx 3,123,911.
  • Nagpur is administered by the Nagpur Municipal Corporation (NMC), which is a democratically elected civic governing body.
  • The city is divided into 10 zones, which are, in turn, divided into 145 wards.
  • In 2004, it was ranked the fastest-growing city in India in terms of the number of households with an annual income of INR 1 crore (10 million) or more.
  • It was ranked the 11th most competitive city in the country by the Institute for Competitiveness in its 2012 report.
  • Sitabuldi market in central Nagpur, known as the Heart of the city, is the major commercial market area.
  • The Reserve Bank of India has two branches in Nagpur in which one of it houses India's entire gold assets.
  • Nagpur and the Vidarbha region have a very prominent power sector as compared to the rest of Maharashtra.
  • The Butibori Industrial area is the largest in all of Asia in terms of area.
  • The Hingna Industrial estate on the western fringes of the city is made up of around 900 small and medium industrial units.
  • Owing to rich natural resources in the region, mining is a major activity. Several government organizations related to the mining industry are based in Nagpur.

JOBS & EMPLOYMENT OPPORTUNITIES

  • Nagpur is home to ice-cream manufacturer Dinshaws, popular snacks manufacturer Haldiram’s, ready-to-cook food manufacturer Actchawa and well-known Ayurveda product brands like Vicco and Baidyanath.
  • Hingna Industrial estate on the western fringes of the city houses approx 900 small and medium units in addition to majors like Mahindra and Mahindra, Neco Ltd, Bajaj Auto, Candico, Bharat Containers, Ajanta group and Sanvijay group to name a few.
  • Butibori, the other major industrial estate here hosts companies like Indo Rama Synthetics, Gammon India Limited (T & D), Gammon India Ltd. (Infra), Central Workshop, KEC, Hyundai Unitech, and ACC Nihon Castings Ltd.
  • Koradi and Khaparkheda are the two major thermal power stations located near Nagpur and operated by MSPGCL.
  • NTPC has a super thermal power plant in Mauda around 40 km from Nagpur whose first plant has been commissioned.
  • The city is an important zone for the banking sector as it hosts the regional office of the country’s Apex bank – The Reserve bank of India (RBI).
  • TCS, one of the country’s largest IT majors is building its campus on a 50-acre plot in the MIHAN SEZ here.
  • Infosys, another IT heavyweight has also commenced construction of its campus at the SEZ. Other IT firms in the progress of establishing their presence include majors like:  Wipro Technologies, Tech Mahindra, HCL Technologies, Hexaware Technologies and Zeon Solutions.
  • TAL Manufacturing Solutions is also building a new facility here which will manufacture key structural components for Boeing’s 787 Dreamliner aircraft. 
  • Global companies including aviation major Boeing and pharma giant Lupin, have also commenced work on their respective units.

TRANSPORT & CONNECTIVITY

  • Nagpur enjoys excellent connectivity by air, road and rail with four major metros namely Mumbai, Delhi, Chennai and Kolkata.
  • Auto rickshaws are the most popular mode of transport for inter-city travel here.
  • Due to its central location, Nagpur is a key railway hub with almost all major trains passing through it.
  • About 242 trains from across the country halt at Nagpur, making it one of the busiest railway junctions in the country.
  • Approx 1, 50,000 passengers board from and leave Nagpur Railway Station on a daily basis. Nagpur railway station is the city’s main railway station.
  • Ajni, Itwari, Kalamna, Kamptee, and Khapri are the other smaller railway stations in the city's vicinity.
  • Local trains run from Itwari to various north, north-east and eastern sub-suburbs of Nagpur.
  • Two major national highways namely NH-7 that connects Kanyakumari-Varanasi and NH-6 that connects Hajira-Kolkota pass through Nagpur.
  • A new express highway on the Nagpur–Aurangabad–Mumbai route has been sanctioned by the government, significantly reducing travel time between the cities of Nagpur and Mumbai.
  • Nagpur is the divisional headquarters of the Maharashtra State Road Transport Corporation (MSRTC).
  • The MSRTC operates 1600 daily services from CBS-1 to long and short distances within Maharashtra and cities in the neighboring states.
  • Nagpur Mahanagar Parivahan Limited (NMPL) buses cater to the city’s public transport needs. It has a fleet of approx 470 low-floor Star Buses that serve around 250,000 Nagpur residents on a daily basis.
  • In October 2005, Nagpur's erstwhile Sonegaon Airport was declared an international airport and was renamed Dr. Babasaheb Ambedkar International Airport.
  • Domestic airlines such as Indian Airlines, Jet Airways, Indigo and GoAir connect Nagpur with most major cities in India.
  • Qatar Airways has started a twice-weekly service from Nagpur to Doha.

INFRASTRUCTURE OUTLOOK

  • Nagpur is ranked among the fastest growing investment destinations of India
  • Maharashtra Airport Development Company (MADC) multi-modal international airport and a multi-product SEZ over 4,025 hectares, will be a major driver of economic growth not only for Nagpur, but also for the entire Vidarbha region.
  • It is the biggest economical development project currently underway in India in terms of investment.
  • The project aims to exploit the strategic location of Nagpur and convert the airport into a major cargo hub with integrated road and rail connectivity.
  • The project consists of two parts namely, an international airport to act as a cargo hub and a SEZ, with a residential zone on the southern end of the city.
  • Eco-friendly coal based plant would generate uninterrupted power to meet all the electricity consumption for the SEZ.
  • MIHAN will have 2, 4 and 6 lane roads. The total internal length of roads would be around 51 kms.
  • There would be two flyovers built over the NH-7 which runs on one-side of the project.
  • The project is financed by Indian banks to the tune of approx INR 3, 000mn in addition to investments made by the state government and the Airports Authority of India.
  • With a projected target of serving 14 million passengers and handling 0.87 million tonnes of cargo, the MIHAN project is one of the largest aviation projects undertaken in India.
  • The estimated capital cost of the project is INR 2,581cr (by year 2035), while the revenue forecast is in the region of approx INR 5,280cr.
  • Nagpur is among top IT/ITES commercial destinations among the Tier III cities.
  • Nagpur Airport has been declared as International Hub Airport for Passenger & Cargo Operation by Government of India.
  • The Government has announced a metro monorail for Nagpur city.

REALTY MARKET OVERVIEW

  • The residential real estate landscape of Nagpur is dominated by end-users.
  • Some of the leading developers in the city include: Pyramid Developers, Ashtavinayak Developers, Rachana, Sandeep Developers, Himalaya Builders and Nanis Buildcon to name a few.  
  • Nagpur has not witnessed any major migration by people from neighboring cities hence its real estate consumption is led mostly by consumption from the residents of the city.
  • However some select areas like Zafar Nagar have seen inflows from NRIs based in Dubai.
  • Nagpur residential markets mostly compose of bungalows, villas and row houses.
  • The city does not have too many high-rises due to FSI restrictions.
  • Investors are present in the MIHAN township, but a majority of them are from other cities.
  • The city also has a small NRI investor base, with most of the participants plowing capital market profits into the real estate markets.
  • The development of residential townships, malls and flyovers are some of the growth stimulators changing the cityscape of Nagpur.
  • Maximum activity in terms of planned residential, commercial and retail development can be witnessed in the western and central micro-markets of Nagpur.
  • The real estate market boom experienced in December 2008 is not expected to return-especially in MIHAN.
  • However, certain projects conceived as part of MIHAN are seeing the light of day and the real estate market will benefit with these developments over the next few years.
  • Civil Lines and C A Road are the most preferred locations of Nagpur, as they are at the heart of the city and have good connectivity in terms of railways and roadways.
  • Commercial and retail presence in close proximity makes this area a residential paradise.
  • Sadar located in the central corridor, is one of the most developed and planned areas of Nagpur, witnessing the highest capital values.
  • The city’s upper and upper-middle class population prefers to reside in this pocket.
  • Retail presence is limited here as residents prefer to frequent community spaces like garden instead of shopping malls.
  • Ramdaspeth is the preferred location for those looking for homes in an upmarket and upscale neighborhood.

 

Prominent real estate destinations in the city can be further classified as under:

 

  • North Nagpur: Byramji Town, Friends Colony, Gorewada, Zingabai Takli, Koradi Road, K T Nagar, Mecosa Baug, Jari Patka, Indora and Tekanaka.
  • South Nagpur: Hanuman Nagar, Manewada, Somalwada, Besa, Trimurti Nagar, Narendra Nagar, Wardha Road, Pratap Nagar, Pandey Layout, Swavalambi Nagar and Chinchbhuvan.
  • East Nagpur: Wanjari, Old Bhandara Road, Panchpaoli, Reshim Bagh, Ayodhya Nagar, East Wardhaman Nagar, Lakadganj, Deshpandey Layout, Kalamna Market and Surya Nagar.
  • West Nagpur: Shivaji Nagar, Amravati Road, Dharampeth, Laxmi Nagar, Ram Nagar, Vayusena Nagar, Jaitala, Higna, Road, Bajaj Nagar and Ravi Nagar.
  • Central Nagpur: Sitabuldi, Sadar, C A Road, Mahal, Civil Lines, Chhoti Dhantoli, Ramdaspeth, Cotton Market Gandhi and Sagar Lake.

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