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Nagpur is sprawling to become a potential real estate market with the developing commercial and residential sectors. It’s a third largest city in Maharashtra after Mumbai and pune. This is the most crucial reason for the expanding the real estate in Nagpur. Nagpur is the undergoing significant economic boom over the recent time. It is the residential sector in emerging significantly in the property market of the city. The residential property is being expanded to the peripheries of the city like its north-west, north-east and southern fringes.

Properties in areas such as Civil Lines, Dhantoli, Shankar Nagar and Ramdaspeth command high prices such as Rs.3500/sq.ft. Whereas rates of residential colonies like Pratap Nagar, Surendra Nagar and Vardhaman Nagar range between Rs.1200 to Rs.2000/sq.ft. The market of property in Nagpur is escalated by demands for land for the expansion of retail sector to satisfy shopping needs of the city’s population.

The prices of property in nagpur are sliding across India, but Nagpur’s different. In the past year its property prices have scaled higher than ever. Builders say land in Nagpur is quoting at Rs 8,000 to Rs 10,000 a square foot. And as for land on Khamla Road, near the airport, landowners are said to be getting offers of up to Rs 22 crore an acre. Residential property in Nagpur prices have also raised. Prices of plots in Nagpur have risen by Rs 1,000 to Rs 3,000 a square foot in the past 12 months. That’s an increase of 35 to 150 per cent. Industry watchers say property prices have climbed because of companies’ increasing commitment to the city.

You can find a decent 2BHK apartment in Ramdaspeth for rent if you can shed 6-7K a month. If you want to buy a flat the rates would be normally around Rs. 3500 per sq ft, though there aren’t much upcoming projects in the area. Dhantoli is another place most suitable for residential purposes with most of it area occupied by tall flats and the rates are mostly similar to that of Ramdaspeth. Sitabuldi and Mahal areas are mainly commercial and not suitable for residential purposes.
The most of West Nagpur are best suitable for the purposes of residential property in Nagpur thus making the living a little costly. Dharampeth, the most sought after place. Here you can find a decent 2 BHK apartment for 4-5K per month. Whereas, the per sq ft rate seems to be similar with Ramdaspeth, Rs. 3500. Shivaji Nagar, Shankar Nagar, and Gandhi Nagar are other good areas in the western Nagpur with rates more or less similar to Dharampeth and have a quieter neighborhood.

If you visit the landlordpoeple.com you can find all types of properties including homes, town houses, residential property, apartments, condos, villas and resorts. Property buyers and investors are free to browse and allowed to contact owners or real estate agents directly. Their high buying power is the ideal opportunity for real estate developers to cash upon and so, these developers and brokers are looking forward to tap a larger base of NRIs. The property market of Nagpur is hot with prices shooting through the roof and price of even a plot of land has rocketed, making both the local builders and real estate agents happy with this unprecedented rise. Once a sleeping city, Nagpur is now on a highly progressive path in both residential and commercial sectors.