Reasons that Make Nagpur the Next Best City to Invest as a Second Residence
Are you planning to join the league of second homeowners? Isn’t it overwhelming and exciting? There is a surge in the number of people planning to buy a second home. Business Standard covered real estate experts’ estimate of “the second home property market growing at 10-12% annually”. For some, it is an investment or post-retirement dwelling, while others buy it for vacation purpose. Besides, another interesting trend that is gaining prominence is the fact that people are showing an inclination to buy a second home in Tier 2 and Tier 3 cities.
There is a real estate boom taking place in Tier 2 and Tier 3 cities. It is even more evident in cities that have been chosen as a part of the Smart City project of the government. One such Tier 2 city, which is experiencing the boom and can be ideal for investment is Nagpur. The city of oranges can be perfect for investment purpose due to the below reasons.
An Industrial Hotbed: Nagpur is one of the fastest growing cities of Maharashtra. There are nearly 22000 Micro, Small and Medium Enterprises thriving here. It is also one of the biggest trading and commercial hub in the entire Vidarbha belt. Butibori is the largest industrial area in Asia. There are also two big thermal power stations in Butibori. Among others, there are big units of Unitech, KEC and Hyundai. Another prominent commercial area of Nagpur is Sitabuldi. There is constant growth and development taking place in this sector making it a preferred investment destination.
Infrastructure Growth: The city of Nagpur has always been an industrial belt, it is also evolving in the IT and infrastructure space. IT giants like Infosys and TCS have set up their campuses in the Multimodal International Hub Airport (MIHAN) area. Even other IT majors like Wipro and HCL have their centres in Nagpur. Also, a cargo hub and no pollution causing industries would be set up in this area. This will give a major infrastructural boost to the area and generate employment. The MIHAN project is expected to transform the landscape of Nagpur city. The other growth centre is the Butibori five-star industrial estate. It is estimated to be spread over 2312 hectares, and it will be adjoining the Nagpur Mumbai Super Express highway. With such infrastructural growth in the city, it has huge investment potential.
An Educational Hub: If you are planning to buy a home in Nagpur with the intent of shifting later, you will not have to worry about the higher education of your children. The city is home to some of the finest institutions both at elementary and higher education level. There are several medical and engineering colleges, as well. Even the Indian Institute of Management (premier B school of India) and AIIMS (premier medical college of India) have set up their campuses in Nagpur.
World Class Transport & Connectivity: The city of Nagpur has rail connectivity to every state capital of India. Even the Babasaheb Ambedkar International Airport (Nagpur airport) handles over hundreds of flights every day. The road network of Nagpur is also at par with other Tier 1 cities. There are many state highway projects also underway. Even the Metro connectivity of Nagpur is commendable. Nagpur metro system is the 13th in India to have become operational.
Tourism & More: Nagpur is also famous as a city of tigers as it is home to several wildlife sanctuaries. There are also several lakes and gardens adding to the grace of the city. Along with the natural beauty, you can also explore the ancient ruins and forts that establish the historical roots of this city. The Sitabuldi Fort and Markanda stand tall among the historical places.
Calm yet buzzing, serene yet crowded, if you are looking for a post-retirement life in a city that offers the best of capitalism and spiritualism, then think of an investment in Nagpur. There are also several township projects coming in this city offering a self-sufficient living experience. One such project in which you can invest is Vrindavan township in Jamtha in Nagpur. While the area is buzzing with growth and development, inside Vrindavan you can live the life for which you have been longing. It is huge and has an expansive green and open belt. The houses have been designed keeping the needs of people in mind. There are row houses, apartments and duplex of different configurations. So, you can choose according to your requirement. Besides, there is every amenity that you will want. There are parks, play areas, fitness zones, hospital, temple, clubhouse and more. It is a holistic and happy living experience that waits for you in Vrindavan township. With 24*7 security, you will always feel safe and secure here. Know more about this project and make this your second abode.