Nagpur is the third largest city in Maharashtra. It is one of the fastest-developing Smart cities in India. It has a population of 25+ lakhs and is known as the orange city and the tiger capital. Nagpur is one of the safest and most technologically advanced metros in the country. Investing in Nagpur makes sense as it is in the growth phase. Investments will only result in the appreciation of the assets as the city expands especially in affordable 1 BHK flats in Nagpur.
Let us look at some of the major reasons why Nagpur is an emerging investment destination:
1. Strategic Location
Nagpur has the Zero milestone, which means it is in the exact center of India equidistant from all four corners of the country. The city is equidistant from the four major metro cities due to which it has the potential of becoming a major logistics hub. Nagpur will have an international cargo hub known as MIHAN – Multimodal International Hub Airport at Nagpur is the first and only such kind project in the country.
This ambitious project is set to boost the economic development of the city attracting large investments from international players. These factors will boost employment as the city gets more people coming in. The demand for housing and commercial real estate will ultimately see a significant growth in the real estate too. Investing in projects like residential plots in Nagpur will give excellent returns in the coming years.
2. Infrastructure Growth
Some major infrastructure development is happening in the city which includes Metro Samruddhi Maha Marg, the inter-modal station, the Outer Ring road, and the new International Airport. The Samruddhi Maha Marg connects Nagpur to Mumbai and is operational and expected to boost the economic development of the city. It is a well-known fact that infrastructure growth improves connectivity boosting the real estate development of a city. As major infrastructure growth takes place, the connectivity will also improve creating new markets for real estate in the city. These are potential high-return assets that investors should aim for.
3. Economic Growth
Nagpur is still in the growth stage and is estimated to be one of the fastest-growing cities in the country in the next decade. Several IT parks, industrial zones, and SEZs are set to boost the economic growth here. These factors will boost the real estate market to meet the housing demand of the working population moving into the city. The social infrastructure will also grow as the urbanization increases making Nagpur an attractive location to settle down.