Saturday, October 6, 2007

Nagpur, known as the city of Oranges has emerged as the next most preferred location for IT/IteS companies in Maharashtra after Mumbai and Pune

Increasing interest of investors has led to an upsurge in real estate activity in Nagpur. Areas close to MIHAN project have a strong investor interest and prices have gone up by 250-300 per cent in the area over the last 18 to 24 months. The demand for residential properties has led to a rise in property prices, says the latest Ernst & Young survey "Indian Real Estate: Growth and New Destinations"

With property prices overheating in the top eight 'A' grade realty markets (Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Kolkata, Pune and Ahmedabad), 11 tier two cities, categorised as 'B' cities, have caught the attention of investors as future growth areas.

These emerging cities are: Surat, Chandigarh, Nagpur, Vishakhapatnam, Vadodara and Jaipur. Close on the heels are Thiruvananthapuram, Kochi, Nashik, Indore and Ludhiana.

1 comment:

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