Nagpur Land Cost

Nagpur has distinctive zones marked for differential  land costs. There are high cost attached to dense areas. There are high cost attached to older areas. There are high cost attached to areas close to roads. High costs are also attached to  commertial and strategic areas.The central areas are more costlier than other areas due to historic settlement pattern along with forts  and railways.But as development of Nagpur being the core of NIT( Nagpur Improvement trust) ,it planned and establised some quality residential areas in Nagpur. The residential planning  focus was Western part, therefore the cost of Nagpur is more on west  that east. Seeing current development happening on  Wardha road I.e on NH6, the current appreciation in this part of the city has soared at historic high levels. However the rich and affluent mass likes to reside in West Nagpur, where as most of the slums are observed in east and South -east areas. Older city is more towards east.

As city is growing the suburbs are getting closer and closer to Nagpur, the prominent suburbs are Kamptee on north east, Mauda on east, Umrer on south-east , on south Majewada, on soth-east Butibori, on north-east Kondhali and on North side Kalmaner and Koradi.

 

 

 

 

Pic1: Nagpur Land cost graph (click on the graph to enlarge)

Black area-The older part of city is towards east which is Itwari, Mahal and Central avenue road. Being old, the density of human settlement is naturally high here, so are property rates. Most of the trading community resides here. Most of the area is covered by old shops along the roads. The planning of Nagpur started well early, the focus was set on west Nagpur .One can see pleasant residential areas in  West Nagpur than east like Civil Lines where government officials reside. Some black areas are seen in the west. They are well developed commercial spots like Ramdaspeth, Dharampeth occupied by private hospitals or by hotels or by showrooms. Professionals love this part of Nagpur.
Maroon area- On the periphery of black lies the area in Maroon, planned and developed late in 70s. The area land price is below the black areas, it is better suited area for residential purpose. With the investments following in cities, these areas are becoming more attractive. 
Green area-Green area had prices less than Maroon but more socialization, most of the middleclass located here. Of late the facilities in green area are increasing. Some of them are exceptionally excellent for residential purpose.

Gray area-Gray area has been starting to show signs that they can follow the path of Green area soon. The gray area is a source for worker class.

 

NO	PRIME AREA	COMMERCIAL     RENT/ SQFT   As of 1-1-2008	RESIDENTIAL     RENT/ SQ FT.   As of 1-1-2008
1	VIP Sq, Alankar Theatre	75	16
2	Dharampeth Coffee House sq	60	15
3	Civil Lines MLA Hostel sq	40	13
4	Bajajnagar Sq	55	7
5	Morris College T Point	40	7
6	NIT Sq	60	7
7	Dharampeth Bazaar	75	9
8	Shankarnagar Sq	75	14
9	Sadar Anjuman Complex	60	12
10	Central Avenue Road	50	8
11	Sitabuldi Flyover	45	8
12	Central Avenue	55	7
13	Kamptee Road	30	5
14	Yeshwant Stadium	60	5
15	Dhantoli T Point	60	5
16	Panchesheel Sq	75	15
17	Ashok Chowk	25	4
18	Medical Sq	30	4
19	VRCE College	40	6
20	Central Avenue overbridge	35	4

*All fig. in INR