NRI Real Estate and Property Investment in India
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NRIs investing in Nagpur
Monday, September 8, 2008

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 city, Nagpur 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.

 

 

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