India’s second greenest city and also known as Orange city, Nagpur is not only a tourist destination but has various other attributions as well. Nagpur has almost 40 educational institutes in the vicinity, a technically apt workforce that is available at relatively lower cost, and the city also flaunts an international airport whose work is in progress.
Nagpur is currently booming in terms of Real Estate and is expected to escalate further with the advent of various IT companies and flow of FDI in huge amounts. There are success stories of various IT companies who turned around the disadvantages of the city and used it to benefit themselves.
To name a few, it can be Premier Technologies, Persistent Technology Group, Lambent Technologies and Control IT India and a lot more fumbling an opportunity to make a firm stance in the city. With IT companies striving to enter the city, the Real Estate prices of both commercial and capital values are likely to rise high.
Another major factor that has led to the soaring Real Estate prices is the NRI investment in the city. Fierce with which NRIs are investing in tier II cities along with the demand being created for both residential and commercial properties by this investment coupled with the high buying power of NRI’s the prices are being pushed beyond a reasonable limit in Nagpur.
Developers and various brokers are having a gala time and to add more to this they plan to tap other regions of the city which has a large number of NRIs with their roots from those areas. To implement this in a more professional fashion many developers and brokers hold exhibitions and fairs abroad to attract NRIs from UK, US, Dubai, Singapore etc.
Orange City, Nagpur achieved the second position on the emerging growth centers in India in a recent study conducted by a UK-based Global Property Consultancy firm and with increasing interest of NRIs in tier II cities, city emerging as a preference of IT people and with a series of other factors the Real Estate sector is expected to grow manifolds.
Growth In Real Gdp
Indian realty is growing at 30%, particularly in Tier II and Tier III cities. The $15 b realty market is expected to reach $ 90 b within the next 8 years. If you have proper info, you can profit from this bullish market.
The rise of the middle class ( 500 million ), Non Resident Indians investing in Indian realty, Foreign Direct Investment entering the market, expansion of MNCs and Indian multinationals, proliferation of eduational instistutions, growth of IT, BPO, food processing & health care - all these are the factors responsible for the growth of Indian realty.
Chandigarh, Gurgaon, Vizag, Coimbatore, Kochi, Jaipur, Nagpur are some Tier II cities witnessing unprecedented boom.
Real estate prices are now not affordable to the common man. IT parks are proliferating and more and more MNCs are entering India. NRIs, traders, well settled doctors, lawyers, engineers are ready to spend crores for their dream lands. After purchasing these lands, they are spending 50/60 lakhs on construction. How can the common man, bereft of the much needed capital, afford houses or flats in India ? Trading is one of the reasons for the rise in prices, as a high potential nation industrialises slowly and steadily .
Many builders have stepped in the realty sector and they are buying old houses, renovating them and selling them off at a huge profit.
Across the length and breadth of India, real estate prices are skyrocketing, as NRIs and foreign firms fuel the demand of residential space and business. Whether you buy in South, North, West or East India, the chances of your capital appreciation is immense.
The Indian GDP is growing at 9.1% and India has already opened up the Realty, Agri and Retail sectors. Research has it that realty can give an average return of 8%. Realty prices are doubling in some TIer I cities like Bombay, Chennai, Bangalore etc. Residential prices have gone over Rs 5000 per sq feet and commercial prices are over Rs 10000 in Tier I cities. Goldman Sachs has predicted that the top six economies of the world in 2050 will be China, USA, India, Japan, Brazil and Russia! The demand for IT space is estimated at 66 million sq feet and commercial space 15 million sq feet.
There are three main types, flipping, speculating and investing.
Speculating
This is equal to the speculation in the stock market, when you buy a scrip and sell it when it rises. This is the wait and watch approach to realty investing and it requires a fairly good financial background, as you might end up owning homes before you decide to sell them. If you can identify the right property, you can make a lot of money. Speculators are on the rise, with loans becoming easier.
Flipping
This is the method of buying and selling properties in a short span of time. You just buy the property and when the prices go up, you sell. The advantage of Flipping is that you dont require vast amounts of money.
Investing
This is the method of investing and holding on for a longish time. The long term investor always benefits in a developing market. You have to choose your right market, You can find a low market. You should buy undeveloped land and hold on for a long time. Buy cheap, sell dear is the motto. You have to do your homework properly. You will find that successful real estate investors spend a lot of hours studying graphs and charts before investing. Future is unknown and nobody can predict what will happen in a years' time but a good investor can make an informed guess !
Both Properties Mls & Newagephilosopher are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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