Shree Laxmi 2

By: Shree Laxmi Venture Pvt. Ltd. in Manish Nagar

Shree Laxmi Venture Pvt. Ltd. is a real estate group which believes in gaining the faith and respect of its investors through actions and not just words. Shree Laxmi Venture Pvt. Ltd. is a prestigious organization comprising of skillful engineers and thoughtful builders who have effectively built a lot of housing projects. With a history of supplying projects on time and as per assured specifications, Shree Laxmi Venture Pvt. Ltd. is a name to trust when it comes to real estate in Nagpur.

Off Wardha Road in Central Nagpur is the fast developing suburb of Manish Nagar. A posh and quaint locality, it boasts of great infrastructure and adequate civic amenities. Its proximity to the Multi-Modal International Cargo Hub and Airport-Social Economic Zone (MIHAN-SEZ) has proved to be advantageous to the locality’s growth. This area has witnessed an increase in its population over the past couple of years, thanks to the thriving IT and business parks close by. To cater to the needs of these young professionals and businessmen, investors and builders have come together to develop a series of gated communities, with amenities such as swimming pools, gymnasiums, jogging tracks, and supermarkets. Manish Nagar houses reputed educational institutions and medical centres such as New Apolostic English High School, Shree Dada Saheb Dhanvate Nagar School and College, Medipoint Hospital, and Sanjeevani Hospital.

Key Projects in Manish Nagar : 

• Nanis Vedant Platinum

Connectivity and Transit Points

Being strategically located, it is easily accessible from other parts of the city. The Nagpur Railway Station lies 7km away from this area, easily reachable via auto-rickshaws. This railway station is the major station of the city, taking travellers to major cities such as Mumbai, Delhi, Kolkata, and Chennai. The Maharashtra State Road Transport Corporation (MSRTC) buses offer cheaper alternatives for intercity and interstate travel, and can be accessed from either the Nagpur Bus Sthanak at Ganeshpeth or MorBhavan at Jhansi Rani Square. These buses take commuters to Bhopal, Raipur, Jaipur, Pune, and Mumbai. The local city buses, run by the Vansh Nimay Infraprojects (VNIL), frequent the Behrambaug Bus Stop, taking commuters to other localities within the city. Dr Babasaheb Ambedkar International Airport, located a little off Wardha Road, is hardly 3km away from Manish Nagar, and can easily be accessed via autos, or taxicabs.

Major Landmarks

• MIHAN-SEZ

Factors for Growth in the Past

Manish Nagar’s proximity to the International Airport, Outer Ring Road, and MIHAN-SEZ acted as a catalyst in attracting a myriad of buyers, developers, realtors, investors, and retailers. The focus on the growth of residential projects in Manish Nagar has led to the development of civic and social infrastructure, making this locality a major hotspot in terms of real estate.

Residential & Commercial Market

The dominant property types in this area are both sprawling bungalows as well as multi-storey residential complexes. The current sale trends for multi-storey apartments fall within the range of Rs 3,100-4,600 per sq.ft. Additionally, sales prices for residential houses range between Rs 24,000-27,500 per sq.ft. Rent or leasing an apartment would cost the house-seeker anywhere between Rs 8-9 per sq.ft. Current trends for commercial space are in the range of Rs 20,000 to Rs 2 lakh per month, largely depending on the size and area of the office space.

Major Challenges

The residents of this area need to pay particular attention while travelling across the main roads. Faulty signals and speeding motorists have led to innumerable accidents and major injuries. Residents in this area also complain about the traffic caused due to the railway crossing situated nearby. Aside from choked roads and traffic congestion, the residents face typical civic problems such as poor lighting, improper disposal of waste and garbage, water shortage, and fluctuations in electricity. The occasional chain-snatching and petty thefts have been brought to notice as well.

Factors for Growth in the Future

The mushrooming of the coveted MIHAN SEZ project is contributing to this area’s infrastructural growth. The recently announced Nagpur Metro Rail project, proposed to connect various parts of the city to MIHAN and the Airport, will be instrumental to the development of this region. Furthermore, new projects at affordable prices and premium facilities coupled with improving connectivity and infrastructure are fuelling real estate growth in the area.