The property market in Nagpur has changed considerably in the last few decades as the city has attracted a large number of immigrant IT professionals and many other types of people. Some key localities have been able to cater to the rising property demand, including Sitabudli, Shankar Nagar, Dharampeth, Khamla, Wardha Road, and Pratap Nagar. But in order to get a good deal on a property, you must first understand how the real estate market in Nagpur works and why it is so attractive.
The price of a flat and Plots in Nagpur is largely determined by several factors including location, cost of land, and construction materials. In addition, you should look into the reputation of the property developer. You should also consult a lawyer and financial advisor before making any final decisions. Regardless of the price range, you can expect to pay a minimum of Rs. 3.25 lakhs for a one-bedroom apartment or a two-bedroom bungalow.
The cost of property in Nagpur is determined by location, with the most expensive areas being the Ramdespeth, Dharampeth, and Khamla. Other locations that offer decent prices include Manish Nagar and Chhatrapati Nagar. And, in terms of amenities, the city is similar to other metro cities. You can easily commute to the capital and get to work without having to change transport or parking.
In addition to being a thriving real estate market, Nagpur also boasts several industrial and commercial developments. In fact, it has recently been crowned the Tiger Capital of India and is home to a number of national parks and wildlife sanctuaries. Nagpur has a great public transport system and was recently ranked as the most livable city in India by ABP news. It also boasts one of the largest industrial areas in Asia, Buti Bori, which is the industrial backbone of the city.
If you are not able to afford the initial down payment for a new property, then consider resale properties. These properties are often cheaper than brand new properties, which means you can start living in the property as soon as the construction is finished. This way, you can use the money you save on decorating your new home. However, there are several factors to consider before buying resale property in Nagpur. If you are not sure what to look for in a resale property, check the reviews and read some of them.