Invest in Ganeshpeth Colony in Nagpur for Higher Returns
If you want to invest in luxury housing in Nagpur, look no further than Ganeshpeth colony. This locality is centrally located, has very good connectivity and accessibility, a variety of social amenities, higher configuration houses available at a lower price and has good growth prospects. As it is centrally located, it is also expected to command a higher premium in coming times.
Location and connectivity
Ganeshpeth colony is located near the centre of Nagpur, where most of the highways in Nagpur intersect. Some of the highways that pass near Ganeshpeth colony include Wardha Road, North and South Ambazari Roads and NH-6. The Chandrapur-Nagpur Highway passes through the area, while there are other important arterial roads pass near the area. These highways not only connect the area to other areas in Nagpur, but also other cities. There is also a flyover and an underpass near the area that help motorists going towards the Nagpur Railway Station to beat the traffic.
The area has several bus stops where there are regular state and city run bus services. The Nagpur Railway Station is at a distance of 2 km and can be reached via the flyover. The Nagpur Airport is less than 10 km from the area and can be reached via Wardha Road. The MIHAN SEZ is at a distance of 15 km from the area.
Infrastructure and amenities
Ganeshpeth colony has a good civic infrastructure such as roads, water supply and electricity. There is a Nag Nadi Canal and Gandhisagar Lake nearby. As such, there is a good underground water table in the surrounding areas. Ganeshpeth colony has good wide roads. It also has a decent electricity supply.
Social amenities include educational institutions, hospitals, malls, gardens, banks, commercial establishments and entertainment facilities. Educational institutions in the area include Government Technical School and Kumbhalkar College. Patil Hospital and Matru Sewa Sangh Hospital are in the proximity of the area. The PVR multiplex is close to the area. There are several parks in the area as well as adjacent to Gandhisagar Lake.
Real estate trends
Ganeshpeth colony already has several housing colonies. With the city’s development, the area is witnessing more housing projects. Most projects are in the 3BHK configuration. Most of the housing projects are apartment projects. Apart from these, there are a few 2BHK apartment projects in the area. The covered area of a 2BHK apartment is in the range of 600-1,300 sq. ft. while that of a 3BHK apartment is about 1,700-1,990 sq. ft. Some of the active developers in the area include Golechha Housing and Infrastructure and Radha Madhav Developers.
While most of the configurations available here are 3BHK apartments, they are within the ticket size of Rs 50-70 lakh, which is low compared to central locations in many tier-I cities. Property prices in the last couple of years have taken a dip. The average property value during the second half was about Rs 6,500 and it was about Rs 4,400 during the third quarter of 2013.
While the average property value has come down in the last two years, the area continues to witness several projects in the under-construction stage. Moreover, the country’s economy is expected to stabilize post elections. Nagpur is also continuously witnessing growth. As such, one may look at a good growth in this area soon. Hence, this is the right time for investors who prefer to purchase a higher configuration property in Nagpur, as they can witness good returns in the near future.
