Butibori Emerges a Vibrant Suburb of Nagpur
Butibori is an industrial suburb situated just outside Nagpur. It is currently witnessing a number of upcoming projects due to multiple factors such as good connectivity, affordability and the development of a MIDC industrial area. As such, one may look at good prospects in Butibori.
Connectivity and accessibility
Butibori lies exactly on the NH-7, about a distance of 13.5 km outside the Nagpur Outer Ring Road. NH-7 continues in Nagpur and connects to Wardha Road, which is an important highway of Nagpur. Butibori also lies close to the intersection of NH-7 and State Highway 262. As such, the suburb enjoys good connectivity to other areas of Nagpur as well as Maharashtra.
Butibori has a bus stand where there are regular buses going to Nagpur. Butibori also has a railway station where there are regular trains to Nagpur and it takes about half an hour to reach Nagpur via train. The Nagpur International Airport is about a distance of 19 km from the area.
Infrastructure and amenities
The main driver in the residential real estate in Botiburi is the industrial district planned by the Maharashtra Industrial Development Corporation (MIDC). MIDC is developing the suburb as a 5 star industrial district over an area of 23 sq. km. Water is supplied to the area by the Wadgaon Dam. The industrial area also has a good power supply.
There are several social amenities planned around the industrial area. Maharashtra’s first Food-Park is in Butibori. There is a IRA International School and a Abha College of Engineering as well as a Maya Hospital in the area. Other amenities include a couple of banks, police station and hotels. The Wakeshwar Dam and Reservoir is just a distance of 10.5 km from the area.
Real estate trends
The development of an industrial area has led to the development of several residential projects and mixed use projects such as the Mantri Matrix Information & Residential Park. There are several other housing colonies coming up in the area. The most common configurations in the area are 1 and 2 BHK apartments and independent houses. The covered area of a 1BHK project is in the range of 500-600 sq. ft. while a 2BHK project has a covered area of 700-900 sq. ft. Some of the active developers in the area include Haappy Home Developers, Shree Gajanan Builders & Developers, Sanjeevan Estate Group and Zero Mile Service.
The approximate price of a 1BHK apartment is between Rs 8-10 lakh, while a 2BHK apartment costs between Rs 10-20 lakh. This shows the affordability factor of the projects in the area. The property values in the area have steadily grown over the last three years. The average property value in the area during the second quarter of 2011 was Rs 1,200 per sq. ft. while the average value was about 2,100 per sq. ft. during the first quarter of 2014, marking an increase of 75 per cent within three years. This is primarily due to industrial development in the area.
