Nagpur has successfully emerged as the favourite real estate destination
for NRIs (Non Resident Indians). The success can be attributed to the
over all commercial and residential development of the city. Nagpur
is one of the most central cities, with abundance of affordable land
and labour. In the past 5 years, IT, ITeS and the BPO sector have made
inroads in to the city. One of the most pronounced investments in the
city includes that of Boeing's USD 100 million maintenance, repair and
overhaul base for Asia. This project will lead to a number of job opportunities,
talent movement to the state and thus residential development around
the site of the project.
One of the most talked about projects, the Airport, is the largest
economic development project underway in India. The project brought
along industry and real estate interest to the city. Once a dormant
has made good progress with Malls sprawling up and city coming alive,
day and night. Dhantoli, Wardha, Marathahalli, Shankar Nagar and Amravati
Road, Manish Nagar have seen extensive residential development and command
good rates. The city has not only seen development in the city areas
but has also expanded in the north, east and west. The city has seen
massive push in prices owing to the rising demand. Civil Lines remains
the city's premium residential neighbourhood, fetching highest rates.
Not only that, the city is seeing development integrated townships.
The city is therefore attracting NRI investment.