Nagpur

The cost of living in Nagpur is comparatively lower than most other cities and the cost of living is also very low. This is an excellent time for buying residential property in Nagpur. The living standard will be comparable to metros in within a decade. The prices of the residential property will become more than double as per the current property trends. If one is not interested in living in Nagpur then also, investment in real estate will earn huge profits.

In terms of space, real estate costs are considerably lower than in most other cities. There is another reason for people to buy residential property in Nagpur- property taxes are lower than in most metros. Another benefit in Nagpur is that- people do not have to spent a lot of time in commuting as distances between different places are short.

A significant number of industries are located in Nagpur city. Nagpur's Butibori industrial area is the largest in all of Asia in terms of area covered. Hundreds of acre of land is occupied by big and small scale industries. Nagpur district's industrialization is mainly in urban area. Large amount of industrial land is still available in Nagpur, attracting industrialists to set up their base and expand.

People are involved in various occupations that include- removing seeds of cotton, textile industry, wood cutting manufacturing of paper and straw-board, chemicals and its product ferro-manganese, tobacco, medicinal, machinery tools, plastic etc. Nagpur is considered as the generator of hand-looms. Nagpur, Kamptee, Umrer, Savner, Khapa, Kalmeshwar are the areas where large scale production takes place. The number of small scale and cottage industries are rising as the government has taken initiatives to boast this industrial category.

Nagpur has been the center of commerce since a very long time. The city is a large trading center for a number of commodities. City is witnessing several fresh constructions and huge investments at the same time. Nagpur is the next most favored IT destination in Maharashtra after Mumbai and Pune. Infosys and Wipro are seriously considering Nagpur as a possible destination for their fresh BPO centers. There are several other plans that will require commercial property for establishment.

Several entrepreneurs have been making innovative use of the city’s biggest advantage—cheap, but highly skilled manpower. Nagpur is a popular tourist destination that encourages expansion of hotels and lodges. Beyond tourism brochures, Nagpur has close to 40 educational institutes in the vicinity and the city also features an international airport in the making.

The government has also announced electrical duty exemption to companies that are set up in the IT parks. Also, there are separate sub-stations for the IT parks in Nagpur. This is a clear invitation businessmen to go ahead with investments. All these factors contribute to the overall development of they city and an apparent increase in commercial property prices.

Some of the companies acquiring space for their offices include- Indo Rama Synthetics, KEC, Hyundai Unitech, ACC Nihon Castings Ltd., Videocon, Food Park, Mahindra and Mahindra, NECO Ltd., Bajaj Auto Group, Candico, Ajanta Toothbrushes, Sanvijay Group, Vicco Laboratories, Dinshaws, Haldiram, Satyam Computer Services and L&T Infocity.