Nagpur finds a place on the Investment Map

According to a study done by Deloitte Touche Tohmatsu India, Nagpur is among the fastest growing investment destinations in India. Developments in the recent years support this statement. Maharashtra Airport Development Company (MADC) is developing a multi-modal international airport and a multi-product SEZ over 4,025 hectares. The MIHAN project and SEZ, which estimates an investment of $11,625 million, is tipped to be a major driver of economic growth not only for Nagpur, but also for the entire Vidarbha region, said MADC vice-chairman and MD RC Sinha. Deccan Cargo & MADC have signed a MoU to develop a cargo hub, while Air India and Gati have joined hands to develop a dedicated freighter service with Nagpur as hub. Gurgaon-based Radisson Group has started work over a five-star hotel in Nagpur. The other investments include that of the Taj Group, Hyatt, Leela, Kamat Group and Fariyas Group. Moreover, work on real estate projects like Sahara City Homes, is also in progress.

According to property consultants Jones Lang LaSalle, Nagpur is among top IT/ITES commercial destinations among the Tier III cities. IT majors like TCS, Wipro, Satyam, HCL and Hexaware Tech have purchased around 500 acres for their proposed projects. On the investment front, four major sectors are expected to fetch an investment of around $16,135 million over the next decade or so. The tourism sector has pegged an inflow of $120 million. In this context, The Economic Times and Vidarbha Economic Development Council have planned a two-day international summit on Investment Opportunities in Nagpur on November 26-27 at Nagpur. Deloitte is the knowledge partner for the summit titled “Nagpur-the Growth Nucleus of India”. The summit will focus on investment opportunities in the sectors of urban infrastructure, SEZ and MIHAN, multi-modal logistics, and tourism infrastructure.

News Published Under:   Mumbai, Real Estate India |

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