Where can I make a great invest in Nagpur?

Where can I make a great investment in Nagpur?

where can i make a great investment in nagpur

By Rishi Saraf 04-Feb-2017 :

Before you invest, you must first decide the purpose of your investment. If it is to live in it, then investing in a constructed property may be desirable, else you may need to look elsewhere.

Typically, from the moment a property is constructed, the constructed part starts depreciating (ageing) while the plot on which it is built appreciates. Therefore, comparatively plots offer better returns than flats and agricultural lands close to the city offer the best.

Great returns come from stories that are futuristic and they take time & patience to materialize. Gurgaon was a Village in 1997 with an expectation that a Japanese model township will come up there. MIHAN at Nagpur is a futuristic project. They eventually materialize & give great returns.

Just like Mumbai, Delhi, Bangalore and other cities, Nagpur is growing in all directions. To get a better return, one needs to get a feel of the direction of developments taking place. In 1989, MIDC Hingna was located about 7 kms from the city. One could see agricultural lands along the way that would be part of the city some day, and today you can see good showrooms of automobile companies and residential colonies established there.

Likewise, presently Wardha road offers a great opportunity for investment. MIDC Butibori which is 36 kms away is a large industrial area which will gradually get filled up. On one hand while the city is growing towards Butibori on the other hand development is taking place from Butibori side towards Nagpur. Eventually the open stretch will get filled up.

At MIHAN (Wardha road) some companies have started operations and the list is gradually growing ……. TCS, TechMahindra have started and Infosys is to start operations in a few months, Air India MRO has begun operations, Patanjali is setting up a big facility for Agro-Processing, TAL is making floor beams for Boeing’s Dreamliners, five big educational institutions are coming up in & around MIHAN, an Indo UK Institute of Health is coming up on 153 acres in JV between India & UK governments which will bring international medical tourism to Nagpur.

Typically, when a new area (eg MIHAN) develops, employees working there need things nearby. A good place to stay, school, hospital, mall, movie theatre, food joints etc, all come up gradually and the area in the periphery gets developed.

Presently, premium land in the city costs about INR 12,000/ sq ft at Ramdaspeth and Civil Lines, and is beyond the reach of the common man, while plots on the outskirts of the city cost about INR 400-500/sq ft or so depending on their location, while agricultural lands range between 40 Lakhs to 1.25 crores/ acre.

It will not take a lot of effort for a Rs 500/sq ft plot to become a Rs 2000/sq ft plot in a few years as the area in the viscinity (eg MIHAN) develops. While the person investing in agricultural land would fetched a higher return when this happens. A similar plot of Rs 10,000/sq foot in the city will take more time & effort to multiply to Rs 40,000/sq ft.

Some of the other interesting areas for investing seem to be Amravati Road (at or near Gondkheri if one is interested in logistics) or Katol road (which has a lot of educational & spiritual institutions, the Gorewada International zoo and is also lower in cost compared to other roads).

To invest, one of the good ways seems to be forming a group of like-minded friends to invest together, while getting the property registered in separate individual names to avoid future disputes. Care should be taken to carry out due diligence and to invest only such amounts which one does not need immediately.

13 thoughts on “Where can I make a great invest in Nagpur?”

  1. Thanks for sharing the knowledge, could you help us to know the current price per square/ft as this article written in 2017 i guess.

    1. Krishna Pathade

      I am in search of 1500 sq.ft plot near mihan also it should be close to metro station and wardha road. Plz suggest.

  2. Dr. Ravi Khangai, Assistant Professor

    Thank you. This is a useful analysis. I have a house in Hingna. Will it be worthwhile to invest in plot in HIngna?What is the growth potential in the next 5-10 years? Or will it be better if I purchase plot towards Mihan? Kindly suggest. Thanking in advance

    1. Dear Dr Khangai,

      We are glad you found our article useful. Considering the following developments, I expect that Nagpur should do very well in the coming years.

      Nagpur is a clean & green city which is very livable. It & has all that is needed in a city i.e. very good infrastructure (roads, flyover, metro rail), very good educational institutions (VNIT, LIT, IIIT, MNLU, Symbiosis and many others), excellent medical facilities (Kingway Hospital, National Cancer Institute, AIIMS and others).

      I expect that in coming time, people in other towns of Central India (Gondia, Wardha, Yavatmal, Amravati etc) who had to send their children to far off cities (Gurgaon, Pune, Bengaluru) for education may prefer to put them in Nagpur.

      Similarly, people from other cities & even countries may come to Nagpur for medical tourism given that medical work in Nagpur is good & cheaper than in Tier-1 cities like Mumbai and Delhi.

      Hingna is a developed area, it is also not far from MIHAN and MIDC Hingna.

      To decide whether to buy a plot in Hingna or some other village near MIHAN you would need to visit both places & see the developments around the plot that you intend to buy & compare the price as well.

      Before buying you would need to do a due diligence.

      Please share your contact number, we can discuss in more detail.

  3. Can you update the latest information about Nagpur Development.
    if we will Investment in Kamptee.
    Pls suggest

    1. Mr Sahu,

      The outskirts of Nagpur, including Godhni are developing well.

      You would need to decide about the type (flat/ plot/ land) and it’s location based on your requirement.

      Before you buy, it would be suitable to carry out due deligence for the property.

  4. Dear Sir, you have perfectly shared a valuable information. I agree to it. Could you please share what is the future of isasani Hingana.

    1. Nachiket Ji,

      Issasani is an interesting location in Nagpur with Hingna on one side, MIDC Hingna on one side, MIHAN on one side, and airport on another.

      MIHAN has several companies of international repute, doing excellent work.

      A new Samruddhi Expressway connecting Nagpur with Mumbai is being built on Outer Ring road, not far from Issasani. The road connecting Hingna & MIDC Butibori is also being broadened. MIDC Hingna which was an Industrial area is now part of the city as the city has expanded beyond it. There are several colleges on way to Issasani.

      Eventually the outskirts of Nagpur (including Issasani) will be part of the city.

      Note : Care should be taken to carry out suitable due diligence before carrying out property transactions.

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