India’s Fastest-Growing City : Nagpur, primarily known as the “Orange City,” has emerged as one of India’s fastest-growing urban centers, according to a comprehensive study by Colliers India. The city’s strategic location, coupled with significant infrastructure developments such as MIHAN, Samruddhi Expressway, and the Nagpur Metro, has positioned it as a prime destination for residential, commercial, and industrial investments. This rapid growth has placed Nagpur ahead of other Tier-II cities like Jaipur and Lucknow.
The study by Colliers India assessed emerging cities based on various parameters including physical infrastructure, social infrastructure, demographic growth, economic development, and real estate growth. The report highlights that Nagpur’s growth is being fueled by economic expansion, tourism driven by townships and infrastructure, and a corresponding rise in housing demand.
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Why is Nagpur Becoming a Growth Engine?
- Industrial Hub: Nagpur is home to Asia’s largest industrial estate, Butibori, and the Hingna Industrial Estate, housing around 900 MSMEs.
- MIHAN: This multi-product SEZ, adjacent to the international airport, is a major driver of growth.
- Connectivity: Nagpur’s central location and connectivity through five expressways make it a preferred investment destination.
- Real Estate Boom: The region near the Nagpur-Mumbai Expressway, with the presence of pan-India grade-A developers, has witnessed significant real estate development.
Why is Samruddhi Corridor a Game-Changer?
The 701 km expressway connecting Nagpur to Mumbai is a game-changer. It has reduced travel time from 16 hours to 8 hours, boosting:
- Logistics and industrial centers, leading to job creation and increased property prices.
- Tourism, with easier access to tourist destinations like Mahabaleshwar, Shirdi, and wildlife sanctuaries.
- Investments, due to the presence of renowned educational institutions and hospitals like IIM, NLU, DY Patil School, and AIIMS.
- Development of 24 townships along the expressway, enhancing connectivity and infrastructure.
Key Attractions in Nagpur :
- Ramtek Temple
- Shri Ganesh Temple Tekdi
- Theme parks
- Wildlife sanctuaries
Nagpur Highlights :
- Population (2024): 3,106,000
- Major IT Companies: Global Logic, Accenture, HCL, Tech Mahindra
- Industrial Hubs: Hingna and Butibori MIDC
- Per Capita Income (2020-21): ₹2,21,097
Growth Areas :
- Hingna: Significant residential growth due to proximity to the MIDC.
- Samruddhi Circle: Emerging as a luxury residential micro-market with developments by pan-India developers.
Wardha Road/Besa: High demand for residential properties due to excellent connectivity and land availability. - Shivmadka: Growing rapidly due to new residential projects and connectivity to major parts of Nagpur.
