WHAT FULES THE BOOM?
Third largest city in the western Indian state of Maharashtra after Mumbai and Pune. With a population of 2.1 million (2001 Census), Nagpur was the 13th largest urban conglomeration in India in 2001 and the foremost city in Maharashtra's eastern Vidarbha region. Nagpur is also the state's Winter Capital and the headquarters of Nagpur District and Nagpur Division administrations. On a global scale, Nagpur is estimated to be the 114th largest city and the 143rd largest urban area in the world in 2006 in terms of population. Nagpur is also important geographically as it lies practically at the centre of India with the country's geographical centre (Zero Mile) being situated here. Moreover, Nagpur is well-known throughout India as a trade centre for high-quality oranges grown in the surrounding region and hence the city is also known as Santra Nagari (Hindi and Marathi for 'Orange City'). Recently, the city celebrated 300 years of its establishment.
Nagpur was forever known as the Orange city because of it's specialty the large, mandarin, Nagpur Oranges. Nagpur popularly known, as Orange capital of India is also the second capital of Maharashtra. The city derived its name from the river Nag that flows through it. A city of central India, northeast of Mumbai (Bombay). It has been an important commercial and industrial center.
Nagpur has come a long way from being the geographical centre of India to the cargo centre of the world. And that is just the beginning.
» MIHAN (Multi-Modal International Hub Airport at Nagpur) and MIHAN SEZ coming to Nagpur over 4311 hectares of land.
» The 20-acre land in Sector 10 of MIHAN SEZ will be handed over to the Vidarbha Defence Industrial Hub for setting up the cluster.
» Air Bus to wing in soon with American Aircraft Manufacturer BOEING to set up a maintenance, repair & overhaul (MRO) facility in Nagpur at $100 million investment.
» Cargo Aircraft Traffic to move to 550 a day from the 10-15 today.
» Commercial Aircraft to grow to more than 500 from 270 today. Maintenance & repair business expected to be more than $400 million by 2011.
» Local airlines flying in to get there share of air passenger increase in Nagpur.
» CIAL, the company that manages Singapore Airport to manage Nagpur Airport too.
» Phenomenal infrastructure growth: Highways.MIHAN Ring Road, Panipat elevated highway, Farukhnagar-Kottakata, Tindivanam-Ulundurpet. Dhule-Pimpalgaon.
» Institute of Chartered Financial Analysts of India (ICFAI) planning to set up 15 private universities at a cost of Rs. 1000 crores.
» London based company to develop a 400 acre township off. Wardha Road with a FDI (Foreign Direct Investment) of Rs. 1500 crore.
» Internationally reputed big players in the hospitality sector have announced their projects and are in the search for more land for even more projects.
» MADC proposes Bio-Technology Park over 300 acre.
» SEZs to attract investment worth Rs. 7500 crores in Vidarbha.
» Nagpur SEZ over 2000 hectares 80% of it allotted to Software companies.
» NMC likely to spend Rs. 5854 crores on Nagpur Development.
» Mantri Realty to set up Rs.750 crore IT park in Nagpur.
» Indigenous technology sites Nagpur railway station’s best kept stations award.
» CM calls it Frankfurt.
Dr. T Chandrashekhar has a vision of turning Nagpur into Copenhagen and Mr. D. Waghmare, Chairman of Nagpur Improvement Trust dreams of converting Nagpur in to Singapore.
Why buying a home in Nagpur is a smart decision ?
Hear the name Nagpur and the first image your mind conjures up is of oranges. Known as the ‘Orange city’, Nagpur is one of the major trade centres of the fruit in India. The city is also known as the ‘Tiger Capital of India’ due to a number of wildlife sanctuaries and national parks situated in and around it.The lush green forest carpet attracts many tourists throughout the year. Some famous spots include Tadoba Andhari Tiger Forest, Pench National Park, Nagzira Wildlife Sanctuary, Maharajbagh zoo, and Sitabuldi Fort.
Nagpur is an important industrial hub with more than 22,000 Micro, Small and Medium Enterprises (MSME) and is one of the fastest growing cities in Maharashtra because of its economic and political power. The current Maharashtra chief minister Devendra Fadnavis hails from the city. It is one of the biggest commercial and trading hubs in the Vidarbha region. Butibori is the largest industrial area in Asia, having two big thermal power stations and includes huge units like Indo Rama Synthetics, KEC, Hyundai, Unitech, and many more. Sitabuldi is the major commercial area of Nagpur.
Nagpur is all prepped up to be the next IT hub, with Infosys and TCS setting up their campuses in Multimodal International Hub Airport (MIHAN) area. MIHAN will serve as a cargo hub, with no-pollution industries being set up, getting a stupendous infrastructure boost; through indirect and direct employment, it will also add 12 million people to the city’s population. Another growth centre for Nagpur will be Butibori five star industrial estate spread over 2,312 hectares adjacent to NH 7 and Nagpur-Mumbai Super Express Highway.
With leading IT firms, management and medical institutions set to spring up in the city; the real estate market will grow at an exponential rate. Nagpur is on major path of change in IT and SEZ segment and will be a growing hub for employment generation in the coming years.The state government is also keen to launch Communication SuperExpressway project that will join Nagpur with country’s financial capital Mumbai. The proposal to set up premier educational institutions like AIIMS and IIM will further increase the demand for quality infrastructure in the city.