Nagpur

Nagpur is a popular city in the state of Maharashtra. It is the third largest city in in the region after Mumbai and Pune. The real estate sector in the city has witnessed a rise in the last few years. Rapid development combined with government's efforts to improve the current infrastructure has lead to an increase in realty prices across the city.

Prominent localities and Areas
There are a number of residential and commercial areas in different parts of the city. Some of the popular realty areas are:

• Sitabuldi: One of the major commercial areas in the city, it contains numerous shops and is the largest wholesale vegetable market in Nagpur.
  
  
• Dharampeth: One of the central areas consisting of a variety of up-scale shops, restaurants, and a retail vegetable market.
  
  
• Ramdaspeth contains numerous up-scale shops, public and private offices, and malls.
  
  
• Itwari: One of the oldest wholesale business centers in the city.
  
  
• Khamala : One of the popular market areas in the city.
  
  
• Kalamna : One of the largest wholesale markets and the biggest grain market in Asia.
  
  
• The Civil Lines : One of the most prominent localities, it has various government offices and residences in Nagpur.
  
  
• Wanjari nagar : One of the most sought after up-scale residential areas in the city.
  
  
• Laxmi Nagar: One of the high market residential areas.
  
  
• Nandanwan and Wardhman Nagar: Both are upscale residential areas in the city

Residential and Industrial Real Estate
The city is emerging as the next most favored IT destination in Western India after Mumbai and Pune. Factors like the city's location, government's initiative in improving the infrastructure, availability of a large and relatively cheap pool of skilled working people have made it a lucrative real estate investment option. The ongoing SEZ project in the city has made it a good option for investment by IT companies.

Increase in the working population in different industries, especially the IT industry has increased the demand for residential properties, both on lease and purchase. This has also led to a high rise in residential property prices.

Another factor that has raised the prices of realty in the city of the upcoming " Multimodal International Hub Airport" on the outskirts of the city. This hub will be the "break of bulk" point for heavy cargo consignments from countries in the south east Asia and Middle east Asia.

The setting up more than 500 crore "Maintenance, repairing and Overhauling" (MRO) unit by Boeing at Nagpur will further escalate the real estate prices. Another feather in cap, is the city's "first textile park" being set up in Vidarbha region. AN IT park is also being set up in the city.

NRI realty investment in Nagpur
There has been a high demand of residential and commercial properties by NRIs, across the globe. This has further raised the already high realty prices. Prominent developers in the city are undertaking residential projects like apartments and condominiums for meeting the ever increasing NRI demand.

Large and continuous NRI investments in the city have pushed further developments. A number of prominent and experienced real estate brokers and agents are holding marketing fairs in the US, UK, and Middle East for attracting more NRI investment.