Nagpur mihan market survey case study price trend
Sunil Seth Kakkad
Mobile: +91-9820614117/ +91-9322510025 In quest of senior Managerial positions in profit center management, sales & marketing, business development, business networking with a reputed and growth-oriented organization. Open to assignments overseas.
• An astute professional with 18 years of experience in sales & marketing, business development, market intelligence and customer relationship management with reputed organizations across industry verticals. • Strong domain experience for the following ,
• Retail, Residential Commercial, IT Park, lifestyle projects, second home & land acquisition.
• experience in local market of Mumbai, Navi Mumbai Indore, Bhopal, Gwalior, chandigarh,panchkulla, mohali, karnal, panipat, kurushetra & Delhi
• Highly resourceful in maintaining strong business networking with reputed developers, infrastructure company, ipc, real estate consultants & brand re-tailers with category for business promotion.
• An impressive communicator with honed interpersonal, team building, negotiation, presentation, convincing and analytical skills
Published on: Mar 3, 2016
Transcripts - Nagpur mihan market survey case study price trend
NAGPUR OVER VIEW
Nagpur is fast catching up on the real estate map of India to emerge as the tier I city.
Nagpur is witness to a sizeable NRI investment in the property market
IT and heavy industry are also growing at a parallel pace to push Nagpur to 2nd
highest rank in list of emerging cities. Service and industry have created enormous
employment opportunities, pushing demand for residential and commercial
The periphery of Nagpur, especially in the north-west, north-east and southern
fringes is witnessing maximum construction activity.
The announcement of the MIHAN (Multi- modal International Hub Airport in
Nagpur) project has been one of the key developments in recent times, which is
expected to greatly transform the urban structure of the city. The advent of IT
industry and flow of FDI investment is booming the realty market of Nagpur. Further,
major companies such as General Electric, DLF, Shapoorji Pallonji, Larsen and
Toubro, Patni computers, Microsoft, etc; have taken up large parcels of land within
the designated SEZ of the cargo hub. This has induced huge demand for both
residential and commercial property in the city.
Nagpur is the geographical centre of India. Nagpur is also equidistant
from all the metros of India.
Ample forest cover and presence of greenery in the city make the
otherwise hot summers bearable.
RESIDIENTIAL RENT ANYLISIS
About Wardha Road
Situated on the National Highway 7, Wardha Road, located within the city of Nagpur, is
an important and upcoming locality witnessing steady and headfast growth. This
locality owes its development to corridors such as the Multi-modal International Cargo
Hub and Airport (MIHAN), and the ever-buzzing Laxmi Nagar.
Property Rates for Wardha Road
Wardha Road is one of the prominent localities in Nagpur. The price trends on Wardha
Road have been witnessing various ups and downs. The price per sq. ft. was at Rs 3423
per sq. ft. In the Oct-Dec quarter of 2013, the locality price appreciated to Rs 3433 per
sq. ft. In the Jan-Mar quarter of 2014, The area enjoys good demand due its proximity
to important centers of the city and beyond. The price appreciation of this locality in
the future might be very good.
Connectivity and Transit Points
Due to Wardha Road’s location in Central Nagpur, this area enjoys great connectivity
by road and rail. The Nagpur Railway Station lies 7.3 km away from Wardha Road, and
is easily accessible via auto-rickshaws. The local city buses, run by the Vansh Nimay
Infraprojects (VNIL), frequent the Morris College Bus Stop, taking commuters to other
localities within the city.
The Dr. Babasaheb Ambedkar International Airport located a little off Wardha Road, is
hardly 2.4 km away, and can easily be accessed via autos, or taxicabs.
● Balaji Temple
● Jamtha Cricket Stadium
● Sahara City
Factors for Growth in the Past
The road was established as a support to the booming MIHAN business sector. The MIHAN
project is the biggest economical development project currently underway in India. It has been
described as a Special Economic Zone (SEZ), and this has been a driving factor in the growth of
Wardha Road, which falls under the constituency of the SEZ.
The focus on the growth of residential projects in this area has led to the development of civic
and social infrastructure, making this locality a major hotspot in terms of real estate.
Residential & Commercial Market
The dominant property types in this area are both sprawling bungalows as well as multi-storey
The current sales trends for multi-storey apartments in Wardha Road fall within the range of Rs
3,370 to Rs 3,820 per sq. ft., To rent or lease an apartment would cost the house-seeker
between Rs 12 to Rs 16 per sq. ft.
Current trends for commercial space falls within the bracket of Rs 20,000 to Rs 2,00,000 per
month, largely depending on the size and area of the office space.
The residents of this area need to pay particular attention while travelling on the main
roads. Faulty signals and speeding motorists have led to innumerable accidents and
major injuries. Traffic congestion is also a major issue in the locality. The occasional
chain-snatching and petty thefts have been brought to notice, as well.
Factors for Growth in the Future
The blossoming of the coveted MIHAN SEZ project is contributing to this area’s
infrastructural growth. The recently announced Nagpur Metro Rail project, proposed
to connect various parts of the city to MIHAN and the Airport, will prove instrumental
to the development of this region.
Furthermore, new projects promising affordable prices, premium facilities, improving
connectivity, and excellent infrastructure are fuelling the rise in the number of
residential projects and appreciation in property value.
OVER ALL VIEW OF WARDHA ROAD NAGPUR
Average price at Wardha Road
PROPERTY DISTRIBUTION TREND WARDHA NAGPUR
Affordable Homes in Nagpur
Affordable housing is still a preferred medium and huge demand for affordable
houses was witnessed in Nagpur.
However due to lack of supply in affordable housing in the sought after
locations like Central Nagpur, a marginal slowdown in transactions was
observed. Affordable homes here would fall in the price range of INR. 2,000-
One Time Maintenance
Most of the developers charge one time maintenance to the tune of INR.1-3
lac at the time of booking depending on the
amenities provided. The developer continues to maintain the complex for 10-
20 years even after the society is formed.
Residents have failed to pay monthly maintenance sighting reasons that as
they do not use the amenities they should
not be charged, hence the developers have resorted to the step of a one time
Walk To work culture
People in Nagpur prefer to stay closer to their workplace (maximum 4-5 km).
Since the mode of transport is expensive,
people prefer to walk or have their private vehicles to reach their destination
COMERCIAL PROPERTY RATES OVER VIEWS
COMERCIAL AVERAGE MONTHLY RENT
PRICE TREND AT WARDHA ROAD NAGPUR 2013-14.
Nagpur's favour is its central location—over 400 international flights
pass daily over its skies, making Nagpur Air Traffic Control (ATR) the
busiest in the country. The rising demand for residential property in
Nagpur by NRIs is spilling the city.
Sugesstion on 7.5 acres
75 ROOM 4-STAR BUSINESS HOTEL,56 UNITS SERVICE APRTMENT
COMMERCIAL OFFICES in the range of 1500 to 3000square feet area ,
SHOPPING CENTRE with convince stores & food court .
,MULTIPLEX with 4SCREEN and
175Lxury apartments sized in the range of 1000 to 1,500 square feet
area could be considered for investment.
Property near to commercial airports, these new activities may include:
(a) regional or national corporate headquarters of large national and
multi-national companies; (b) trade and merchandise centres marketing
retail or industrial products; (c) service companies that are dependent
on air service to reach their markets; and/or (d) airlines and related
Expansion of activities in the metropolitan area occur for types of businesses
that are users of airport services, suppliers to markets generated by the
airport, or businesses that can take advantage of the local transport and other
supporting infrastructure developed primarily to serve the airport. These are
typically: (a) high-tech electronics and specialized equipment manufacturers,
(b) communications companies, (c) warehouse and delivery services, and(d) a
variety of specialized business services Hotel and convention facilities are
another rapidly expanding type of business.
The magnitude of these developments is not closely related to the passenger
volume of airport activity. The ratio of hotel rooms (within 6 km of the airport)
The supportable number of hotel rooms is predictable based on four factors:
(1) extent of hub versus destination travel,
(2) airport location relative to office activity centre's,
(3) hotel agglomeration at conference centers, and
(4) land use restrictions.
Retail is yet another rapidly growing type of business activity.
Shopping facilities are being expanded and upgraded at many airports.
Airport vicinity shopping centre's are also increasing, following nearby
RESIDIENTIAL SALE 490 UNITS
COMMERCIAL SALE 86 UNITS
RESIDIENTIAL RENT 26 UNITS
COMMERCIAL RENT 48UNITS
READY PROJECTS 38 PROJECTS
PRODUCTS PREFERED CHOICE
ROW HOUSE 30%
PRODUCT PREFERED BY NAGPUR
5BHK +++ 3%
Hotels in Wadha Nagpur
Nagpur hotels by star rating
•5 star hotels 03
•4 star hotels 0 1
•3 star hotels 17
•2 star hotels 23
•1 star hotels 0 7
Nagpur hotels by area
•Abhayankar Nagar 1
•Central Avenue 12
•Chindwada road 1
•Kamtee Road 1
•Mohan Nagar 1
•New Ramdaspeth 1
•Pratap Nagar 1
•Sewa Sadan Chowk 1
•Wardha Road 8
•West High Court Road 1
TOTAL NO OFREGISTERED HOTEL --- 51
Finding Nagpur accommodation
Hotels in nagpur (98) Rs. 500 onwards
Guest houses in Nagpur (8) Rs. 300 onwards
Resorts in Nagpur (6) Rs. 900 onwards
Nature camp in Nagpur (1) Rs. 2000 onwards
Serviced apartment in Nagpur (1) Rs. 2500 onwards
Boutique hotel in Nagpur (1) Rs. 3800 onwards
Hotels near landmarks in Nagpur Railway station
Hotels near Ajni Railway Station
Hotels near Itwari Railway Station
Hotels near Nagpur Railway Station
Airport Hotels near Nagpur airport
HOTELS NEAR Sightseeing
Hotels in Nagpur near Ambazari Lake
Hotels in Nagpur near Sevagram
Hotels in Nagpur near Sitabuldi Fort
Hotels in Nagpur near Maharaja Baug and Zoo
Hotels in Nagpur near Deeksha Bhoomi
Hotels in Nagpur near Markanda
Hotels in Nagpur near Seminary Hill
Hotels in Nagpur near Balaji Mandir
Hotels in Nagpur near Sri Poddareshwar Ram Mandir
Hotels in Nagpur near Shri Vyankatesh Temple
13 Hotels in Wardha Road Nagpur
Price Range : Rs. 2000 - 6000
The Travotel Suites Rs. 2,604
Radisson Blu Hotel Nagpur Rs. 4,697
The Pride Hotel Nagpur Rs. 3,511
The Majestic Manor Rs. 2,524
Hotel Adi Rs. 2,466
Flora Inn: Service Apartments Rs. 2,117
Eastern Point Service Apartments Rs. 2,863
Airport Centre Point Rs. 2,934
Proposed Residential Amenities in the complex
24-hours ultra-modern security
Gated community life
Fully equipped Gymnasium
Swimming pool with baby pool
Barbeque area with seating
Children's Play Area .
Mural wall fountain
Vitrified tiled flooring in all rooms
Ceramic tiled flooring in toilets and terraces
Colour glazed dado tiles above cooking platform up to lintel level.
Colour glazed dado tiles up to lintel level in all toilets.
All door shutters will be flush door.
Standing cooking platform with black granite top with stainless steel sink.
Electrical and plumbing provision for water purifier and exhaust fans in kitchen.
Electrical and Plumbing provision for water heater and exhaust fans in all toilets.
Concealed wiring with modular switches.
Powder coated aluminum sliding windows with M.S. Safety grills.
Gift from SUNIL SETH KAKKAD