Kotewada in Nagpur Sees Growth in Residential Units
Kotewada is a small locality outside the Nagpur Outer Ring Road. The locality is currently witnessing a decent growth in housing unit supply over the past few months. The main reason for this is its affordability and proximity to MIHAN SEZ.
Location and connectivity
Kotewada is located just outside the Nagpur Outer Ring Road (ORR) and close to National Highway (NH) 7. While the ORR is about less than 2 km from the area, NH-7 is about 5 km from the area. The NH-7 connects Kotewada to areas along Wardha Road and few other important cities in the country. The Nagpur ORR connects the area to few other areas in Nagpur.
The MIHAN SEZ is just about a distance of 6.5 km from the area, while the Nagpur Airport is about a distance of about 14.5 km from the area. The nearest railway station is the Gumgaon Railway Station, at a distance of 4.5 km. There are currently no bus services to the area. But, since it is close to Outer Ring Road and the railway station, there are several rickshaws available to the area.
Infrastructure and amenities
While accessibility to Kotewada may be an issue, it does have a few good wide roads. There are a couple of industries such as Orange City Logistics Park nearby. As such, it has a decent power supply. Since most of the upcoming projects in Kotewada are apartments, they have a drinking water supply through borewells. There are also a few social amenities near the area which include Wainganga College of Engineering and Management, and Vidharba Cricket Association Stadium.
Real estate and trends
Kotewada has a good number of upcoming apartment projects. Since there is a lack of proper infrastructure and accessibility to the area, most of these projects witness demand from the point of investment. Some of the prominent developers in the area include Fire Arcor Infrastructure Pvt Ltd and Pushkar Real Estate. The Empyrean by Fire Arcor Infrastructure is currently the biggest upcoming apartment project in Kotewada. Projects in the area include 2 and 3BHK units. The built up area of a 2BHK apartment is in the range of 1,025-1,200 sq. ft. and that of a 3BHK apartment is in the range of 1,200-2,090 sq. ft.
The approximate cost of a 2BHK apartment is in the range of Rs 20-40 lakh while a 3BHK apartment costs from Rs 30 lakh and may go up to Rs 70 lakh depending on the amenities. The average property value around the area is about Rs 3,100 per sq. ft.
While the property value has gone through wide variations over the past few quarters, with the growing demand for affordable housing and investments, one may expect the property values to grow here in the coming future. As such, if you are looking for investing in Nagpur for the long term, Kotewada is one locality you can consider.
