Nagpur among the top Real-Estate cities in India, with at least a 49% boom in residential demands
The Real Estate market has seen a significant rise after the slump witnessed during Covid19 pandemic. And to everyone's surprise, the champions of the real estate boom are not the once tier-one cities like Mumbai, Pune, Delhi, or Hyderabad! They are the tier-two cities like Nagpur, Bhubneshwar, Coimbatore, Indore, Surat, and Jaipur.
Nagpur especially has seen exceptional growth in real estate in the last two years. With a growth of over 49% in residential housing demand and an 84% rise in rental demand, Nagpur has proved to be a show-stealer.
Premium projects by builders such as Kukreja Infrastructures, R Sandesh Group, N Kumar and others in Nagpur city, are attracting a great deal of attention.
This exceptional growth in real estate markets of tier-two cities can be attributed to -
1. Massive infrastructure projects like Smart Cities Mission, Metro rail projects, and new high-way constructions.
2. Opening up of MNCs and educational institutions like IITs, IIMs, and AIIMS.
3. The increased level of income and growing aspirations.
All these factors may further motivate individuals and investors to buy properties and help amplify the growth of the real estate sector in tier-two cities of India.
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