PRNewswire
Nagpur (Maharashtra) [India], January 21: Liases Foras, India's leading non-broking real estate research company, has unveiled its comprehensive report, "An Emerging Excellence: City of Nagpur," shedding light on the city's rapid transformation and its emergence as a major urban hub in India. This report delves into the broader urbanization trends across the nation while highlighting Nagpur's role as a standout metropolis driving India's urban future.
India is experiencing unprecedented urban growth, with its urban population projected to reach 43% by 2036. Urban centers now contribute over 60% of the national GDP, a figure expected to soar to 75% by 2030. As major metropolitan cities grapple with overcrowding, cities like Nagpur are emerging as pivotal engines of economic growth and investment.
It is new urban centers, like Nagpur, that now house nearly half of India's urban population. With robust infrastructure, superior quality of life, relatively affordable living standards, and significant government initiatives like Smart City Mission, AMRUT, and UDAN, these cities are becoming attractive alternatives to strained metropolitan cities for businesses and residents alike.
Strategically located at the Zero Mile marker, Nagpur's evolution into a key urban center is driven by several factors:
- Connectivity:
Nagpur stands as a rising connectivity hub with the Rs60,000-crore Nagpur-Mumbai Samruddhi Expressway, complemented by major national highways like NH 44 (Srinagar in J&K to Kanyakumari in Tamil Nadu) and NH 53 (Hajira in Gujarat and Paradeep Port in Odisha). The city is further empowered by a Rs10,000-crore metro network with over 40 operational stations and 30 more underway. Additionally, the Dr. Babasaheb Ambedkar International Airport is undergoing a massive Rs7,000-crore, 2,000-acre expansion, positioning it to emerge as Asia's largest logistics hub under the ambitious MIHAN project.
- Social Infrastructure:
Home to premier educational institutions like IIM Nagpur and VNIT, along with advanced healthcare facilities like AIIMS and National Cancer Institute, Nagpur is emerging as an education and healthcare hub for India.
- Market Overview:
The southern zones of Nagpur, led by Samruddhi Circle, MIHAN and Wardha Road, dominate the real estate market, with a surge in demand for high-end residential plots, apartments and villas.
- Living Environment:
Nagpur stands out as India's second-greenest city, offering superior air quality and a low risk of natural disasters. Its excellent livability quotient is further enhanced by a decline in crime rates, making it an attractive destination for families and professionals.
- Tourism:
Known as the "Tiger Capital of India," Nagpur's proximity to prominent tiger reserves like Pench and its iconic sites like Deekshabhoomi position it as a significant cultural and wildlife tourism hub.
With its strategic location, growing population, and thriving industrial base, Nagpur is poised to redefine urban living in India. Projects like the Rs30,000-crore MIHAN, the Rs60,000-crore Samruddhi Expressway, and expanding metro corridors are set to propel the city into a new era of economic and social prominence, helping the state of Maharashtra realise India's vision to be a $5 trillion economy.
Nagpur's story exemplifies the opportunities within India's fast growing cities Tier-II cities, proving that with strategic investments, robust infrastructure, policy support from the government and community-centric initiatives, urban centers with strong fundamentals can achieve unprecedented growth. Liases Foras remains committed to empowering stakeholders with insightful research that not only highlights such success stories but also inspires urban planning and investments geared towards sustainable development. As India marches toward a city-centric future, Nagpur stands as a beacon of progress and potential.
About Liases Foras:
Founded in 1998, Liases Foras is India's only non-broking real estate research company. Our services are grounded in data and science, spanning market intelligence, risk advisory, and valuations for lenders, mortgage companies, developers, funds, and corporations. Our expertise in real estate pricing and understanding market dynamics enables clients to identify opportunities and mitigate risks effectively.
With an unparalleled database covering 60 cities across India since 2003, Liases Foras is widely recognized as a leading authority in real estate research. Our unbiased, in-depth analysis and advisory services stem from a commitment to scientific principles and economic geography, offering clarity in a complex industry.
Liases Foras' pioneering approach and strategic alliances ensure unmatched real estate advisory services, empowering clients with reliable insights and robust solutions.
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