How Investing in Nagpur Can Let You Relish High Returns
Investing in upcoming locations like Nagpur which have a high potential for future growth makes a lot of sense for investors. This is because of simple economics. A city like Nagpur is growing and it has not reached the state of developed cities like Mumbai and Pune. So, the property prices in Nagpur will be comparatively lower than those in the bigger cities. But since Nagpur has potential for growth in the future the property prices are bound to increase. Hence investing now will fetch high returns in the future if the investor stays invested for 5 to 10 years.
Let us look at some of the reasons for this analysis:
1. Infrastructure
Nagpur is the geographic center of the country. This fact makes Nagpur a strategic location for logistics. The government is investing heavily in the development of a Multi-Modal International cargo hub and airport at Nagpur which will establish Nagpur as a major hub for industrial logistics. The city’s roads, railways, and metro projects are also being revamped in scale to meet its growth. The Mumbai Nagpur Expressway, Nagpur Goa Expressway, Nagpur outer ring road, and the proposed high-speed rail corridor have enhanced the connectivity of the city with major hubs and cities. These activities are bound to generate large-scale employment and new ventures into the city boosting the demand for residential and commercial real estate.
2. Economy
Nagpur’s economy is growing with the development of IT, manufacturing, and agricultural industries attracting many people to the city. Rapid urbanization will boost the demand for housing which will eventually result in price rise as the demand keeps increasing.
3. Affordability
Investors who have the financial power to invest in real estate will find that Nagpur real estate is cheaper compared to other large cities. Investing in flats in Nagpur is cheaper and investors can invest in multiple flats at one go. With the growth in real estate, investors will be able to reap high returns over long periods. The Nagpur rental market is also a lucrative one as investors are getting good rentals for their properties. The demand for rentals is driven by students and the working population moving into the city.
Some of the upcoming locations in Nagpur that have good growth potential include Wardha Road, Manish Nagar, and Besa. These locations pose good options to invest in 2 BHK flats in Nagpur and even luxury flats. Butibori, Kamptee Road, and Mihan are ideally suited for investments in plots.