NRIs Pushing Real Estate in Nagpur

May 14, 2007	(1 votes, average: 5 out of 5)  Loading ...
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The intense demand for residential and commercial properties coupled with the high buying power of NRI’s is pushing up prices beyond a reasonable limit in Nagpur. Property developers in the city are making hard cash in the wake of number of real estate deals that are waiting to be struck soon.

Property market in Nagpur is hot with prices shooting through the roof and the interest of NRIs enables the city to take greater strides in the sector. Within the industry, such periods seldom come and are supposed to be the ideal time to cash upon, says a leading real estate agent in Nagpur.

Encouraged by the booming market, several developers and brokers are also in a look out for tapping a large base of NRIs, who have their roots in the city or region. Thousand of deals struck each day. Of all, the main ones are for vast stretches of agriculture and non-developed agriculture land. Most of NRI property buyers originally belong to Nagpur, but others are also keen to get a chunk of land in the city.

NRI investments in Nagpur are expected to push major developments soon. The current growth is already contributing to the price rise. Many real estate brokers and agents make trips abroad to hold marketing fairs to attract attentions from NRI investors the US, UK, and Middle East.

News Published Under:   Non Resident Indian (NRI) |

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