Immediate demand for 500,000 new homes, hospitals, IT companies and shopping malls, resorts and many more has prompted big Constructions and Developers to launch their mega projects in the clean and green city of Nagpur.
This is the right time to capitalize on the ground situation and buy land in Nagpur Real Estate.
The land prices in the vicinity of MIHAN, Nagpur are expected to keep rising at an average of 100% over the next 4-5years due to the emergence of Nagpur as South East Asia’s Hub airport cum Logistics hub from where goods can be transported to anywhere in the world within 12hours.
This is the right time to capitalize on the ground situation and take a position on Nagpur Real estate. There is huge potential for all kinds of projects in this part of the world where a whole new international metro city is being built from scratch.
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Rains welcomed with fun & frolic
NAGPUR: After a searing hot spell of weather, which began late in January this year and lasted till this Saturday, the Orange City woke up on Sunday to be pleasantly surprised in more ways than one. Not only was it raining heavily from the morning, but the showers continued throughout the day, with the sun making an appearance just minutes before it sets. Furthermore, the maximum temperature recorded in the city on Sunday was nearly nine degrees Celsius below what was recorded just a day before! Surprising everyone, the maximum temperature on Sunday turned out to be just 26.3 degrees, which was exactly two degrees above the minimum temperature of 24.3 degrees, which was recorded during the day. This was also a phenomenal nine degrees below the normal temperature! The maximum temperature on Saturday was 35.0 degrees. The reason behind this occurrence may have been the fact that the clouds had reigned over the skies almost throughout the daytime, and had thus balanced chances of the temperature going up.
Meanwhile, the temperature, which the city received from 8.30 am to 5.30 pm on Sunday, as recorded at the meteorological station at the Nagpur Airport, was 37.4 millimeters, which is indeed a considerable amount of rainfall. The rainfall from 5.30 pm on Saturday to 8.30 am on Sunday, on the other hand, had been around 23.2 millimeters.
Mihan Future bright as MADC to set up warehouses
NAGPUR: In a pep up announcement for Nagpur’s ambitious Mihan-SEZ, RC Sinha on Saturday announced that the Maharashtra airport development company (MADC) would be coming up with a 4 lakh square-feet warehousing complex for the retail major Future Group. The vice-chairman-cum-managing director of MADC added that it would also be offering 272 tenements at Khapri for sale by next month. This is a part of the low cost houses to be constructed by MADC.
“The agreement was signed with Future Group on Friday and land has been earmarked just outside the SEZ area. Under the arrangement, Future Group would be the end-user of the warehouses and would be paying rent which would be fixed at 14% of the construction cost,” Sinha said, adding that the move would not only create employment but will spur allied businesses too.
The MADC top boss accepted that this was one of the moves to counter the economic slowdown, which has affected investment in Mihan too. Future Group chairman Kishore Biyani added that the set-up would be used by Future Logistics which has a Rs 300 crore turnover. “Nagpur would serve as a better location and so I have been upbeat about this place. The set up is expected to be ready in 12 months,” he said.
Sinha added that there has been some progress towards the joint venture company between MADC and AAI. The company, Mihan India Private Limited, was registered on June 9 and the certificate of incorporation received. The certificate of commencement of business is awaited and a shareholders’ agreement remains to be signed with the AAI.
“Lack of an agreement is not expected to affect the company’s functioning and neither will it hamper in both AAI or MADC chipping in their part of capital into the venture,” said Sinha, adding that the first board meeting would be held on July 8.
Read More : Property Realty growth shifts to Nagpur City