water-cum-amusement park in the heart of nagpur a fact file nagpur is the largest city in central...

Water-cum-amusement park in the heart of Nagpur

Situated on River Nag, Nagpur is the second capital city of Maharashtra and derives its name from the river. It was once the capital of the central province, but was later incorporated into Maharashtra. Nagpur is almost at the geographical cen-tre of India. In fact the zero milestone of India is in this city. Nagpur is also world renowned for being a major production as well as trade center of excellent, high-quality oranges. This has resulted in it being given the name of Santra Nagari (‘Or-ange City’ or the ‘City of Oranges’).

The present city was founded in the early 18th century by Bhakt Buland, a Gond prince of the kingdom of Deogad in the Chhindwara district. In 1743, the control of Nagpur slowly passed on from the Gonds to the Marathas and became the capital of the Bhonsles. In 1817, Bhonsles lost Nagpur to the British and the city came under British influence. In 1861, Nagpur became the capital of the Central Provinces. In 1960, the Marathi majority Vidarbha region was merged with the new state of Maharashtra and Nagpur was designated the second capital of Maharashtra state, alternating

with Mumbai as the seat of the Maharashtra state legislature.Nagpur is an important tourist spot. It has a number of tourist attractions to offer to its visitors, coming from various parts of India as well as abroad. They include Balaji Mandir, Ambazari Lake, Sitabuldi Fort, Maharaja Baug, etc. Along with that, it serves as the base for the nature lovers, looking to visit the numerous wildlife sanctuaries and natural parks situated in and around the Nagpur district.

The strategic location of the city, almost in the heart of the India, further adds to its importance. Nagpur is an important railroad junction and has developed over the years into a leading industrial center, with factories manufacturing cotton textiles and textile machinery, dyes, and wood paper products. Nagpur is also noted for hand woven silk and cotton textiles. It is endowed with rich forest resources with the forests around the city full of high quality teak plantations and has earned itself the distinction of being the second greenest city in India.

Nagpur: A fact fileNagpur is the largest city in central India and the third largest city by population in the state of Maharashtra after Mumbai and Pune. Being the geographical center of India the zero mile marker of the country is located here. Spread across 220 sq.km. with a population of 2.1 million (2001 Census). The Nagpur population mainly consists of Government sector employees, businessmen and manufacturing sector employees. Nagpur was the nation’s 13th largest urban conglomeration in 2001 and the foremost city in Maharashtra’s eastern Vidarbha region, in addition to being the state’s Winter Capital and the headquarters of Nagpur District and Nagpur Division administrations. On a global scale, Nagpur was estimated to be the 114th largest city and 143rd largest urban area in the world in 2006 in terms of population.

Nagpur is famous throughout India as a trade centre for high-qual-ity oranges grown in the region and hence the city is also known as Santra Nagari (Hindi and Marathi for ‘Orange City’). Nagpur is also famous for wood. Asia’s largest wood market – Lakadganj is located at Nagpur. Nagpur is also famous for coal mines at Saoner and Wani. Nagpur has thermal power station at Koradi - the Ko-radi Thermal Power Station (KTPS) and Kaparkheda thermal power station. KTPS is one of the four major power plants in Vidarbha.

Nagpur was recently adjudged as the ‘Best City’ under the Jawa-harlal Nehru National Urban Renewal Mission (JNNURM) by union urban development ministry for its water supply services and proj-ects implemented under JNNURM. The Nagpur Municipal Corpo-ration (NMC) had earlier also received national ‘Best Environmen-tal Initiative award’ and National Urban Water Development award for the water supply services and projects.

Nagpur is also said to be the cleanest city in India and the second greenest after Chandigarh. The city has been a major milestone for India being a major industrial, commercial and transportation hub. Recently, the city celebrated 300 years of its establishment.

History of Nagpur:The first reference to the name Nagpur is found in a 10th century copper-plate inscription discovered at Devali in the neighbouring Wardha district. The inscription is a record of grant of a village situated in the Visaya (district) of Nagpura-Nandivardhana during the times of Rastrakuta King Krisna III in the Saka year 862 (940 CE- Common Era ). However, tradition ascribes the founding of Nagpur to Bakht Buland, a prince of the Gond kingdom of Deogarh in the Chhindwara district. By 1751, the Maratha leader Raghoji Bhonsle of Vidarbha established himself at Nagpur, after conquer-ing the territories of Deogarh, Chanda and Chhattisgarh. After Rag-hoji’s death in 1755, his son and successor Janoji was forced to acknowledge the effective supremacy of the Maratha Peshwa of Pune in 1769. Regardless, the Nagpur state continued to grow. Janoji’s successor Mudhoji came to power in 1785 and brought Mandla and the upper Narmada valley from the Peshwa between 1796 and 1798, after which Raghoji II acquired Hoshangabad, the larger part of Saugor and Damoh. Under Raghoji II, Nagpur covered what is now the East of Maharashtra, Chhattisgarh, Orissa, and parts of Madhya Pradesh and Jharkhand.

In 1803 Raghoji II joined the Peshwas against the British in the Second Anglo-Maratha War. The British prevailed, and Raghoji

was forced to cede Cuttack, Sambalpur, and part of Berar. Af-ter Raghoji II’s death in 1816, his son Parsaji was deposed and murdered by Mudhoji. Despite the fact that he had entered into a treaty with the British in the same year, Mudhoji joined the Pesh-was in the Third Anglo-Maratha War in 1817 against the British, but was forced to cede the rest of Berar to the Nizam of Hydera-bad, and parts of Saugor and Damoh, Mandla, Betul, Seoni and the Narmada valley to the British after suffering a defeat at Sitabuldi in modern-day Nagpur city. Mudhoji was deposed after a tempo-rary restoration to the throne, after which the British placed the grandchild of Raghoji II, Raghoji III on the throne. During the rule of Raghoji III (which lasted till 1840), the region was administered by a British resident. In 1853, the British took control of Nagpur after Raghoji III died without leaving an heir. From 1853 to 1861, the Nagpur Province (which consisted of the present Nagpur re-gion, Chhindwara, and Chhatisgarh) became part of the Central Provinces and Berar and came under the administration of a com-missioner under the British central government, with Nagpur as its capital. Berar was added in 1903.

Nagpur was a scene of significant political activity during India’s freedom struggle. The city hosted two annual sessions of the Indian National Congress and the Non Co-Operation Movement was launched in the Nagpur session of 1920. After Indian Inde-pendence in 1947, Central Provinces and Berar became a province of India, and in 1950 became the Indian state of Madhya Pradesh, again with Nagpur as its capital. However, when the Indian states were reorganised along linguistic lines in 1956, the Nagpur region and Berar were transferred to Bombay state, which in 1960 was split between the states of Maharashtra and Gujarat. Nagpur is the only Indian city to have lost the status of a state capital during the reorganizaton of states.

The city is a major education centre in Central India, home to Nag-pur University, one of India’s oldest universities (founded in 1923).

The city houses over 275 educational institutes imparting educa-tion in various fields. Besides Science, Commerce and Arts, there are various institutes offering education in Engineering, Medicine, Law, B. Ed., Social work, Hotel Management and catering, etc. The city’s culture is cosmopolitan, containing a large number of people from other Indian states. The main languages spoken here are Hindi and Marathi. Nagpur is very diverse, with people belong-ing to every ethnicity and every major religion - from Muslims, to Buddhists, to Christians.

Nagpur is an important city for Indian armed forces as it is the head-quarter for maintenance command of Indian Air Force. Nagpur has headquarters of a number of national level scientific and govern-ment institutions like NEERI, Central Institute of Cotton Research (CICR), National Research Centre for Citrus, National Bureau of Soil Survey and Land Use Planning, the Jawaharlal Nehru National Aluminium Research and Development Centre, Indian Bureau of Mines, India’s Intellectual Property Training Institute, the National Academy of Direct Taxes, the Chief Controller of Explosives of the Petroleum and Explosives Safety Organisation, besides housing ordinance factories at Ambajhari and Bhandara.

Multi-modal International Cargo Hub

Nagpur is administered by Nagpur Municipal Corporation (NMC) alongwith Nagpur Improvement Trust (NIT). NMC and NIT together are in charge of civic and infrastructure needs along with develop-ment of new areas.

ADMINISTRATIVE DIVISION

District Code 9

Talukas 13

Villages 1874 (as per 2001)

LOCAL BODIES (ADMINISTRATION)

Municipal Corporation 1

Nagar Parishad 10

Katak Mandal 1

Panchayat Samiti 13

Gram Panchayat (including Group Panchayat) 778

The Nagpur Municipal Corporation is an important part of Nagpur administration. The district is divided into 10 zones which are in turn divided into 136 wards.

Nagpur District is divided into 1874 villages and 13 talukas for the convenience of administration at Nagpur. There is 1 katak mandal, 10 nagar parishads, 778 gram panchayats and 13 panchayat samitis.

The development Control Rules (DCR):The Development Control Rules (DCR) for Nagpur city has declared 27 roads as ‘No shopping Frontage Roads’. These roads include Am-ravati Road, Chhindwara Road, entire circular stretch of Ring Road, Wardha Road, Katol Road, East High Court Road, a major portion of Central Bazar Road, Cement Road, West High Court Road, Khamla Road, and Hill Road. The main aim of imposing restrictions was to keep traffic under control and to have a planned development for the city. Despite the ban, permission for various commercial and shopping complex constructions have been granted over the last 5 years, while the matter still remains sub judice.

INFRASTRUCTURERailways:Being situated at the centre of the country, Nagpur is a very impor-tant roadway and railway junction and a transit for almost all the trains that connect the country lengthwise and breadthwise, espe-cially trains connecting India’s four major metropolises (Mumbai, Delhi, Chennai, and Kolkota) located in the four corners of the coun-try. The main railway station in Nagpur city is the Nagpur Railway Station, while the much smaller Ajni, Itwari, Kalamna, Kamptee, and Khapri are the other railway stations in the city’s vicinity.

Roads:In addition, Nagpur is a major junction for roadways as India’s two major national highways (Kanyakumari-Varanasi (no. 7) and Howrah-Dhule (no. 6)) pass through the city. Moreover, Nagpur city has come in the national spotlight recently for its good roads, which were developed as part of the upgradation and renewal works under Integrated Road Development Project (IRDP).

In another notable development, the Inland Container Depot at Nagpur run by Container Corporation of India (CONCOR) has been the fastest growing inland port in the country in recent years.

Air:Due to the city’s central location, Nagpur’s Air Traffic Control (ATR) is the busiest in India. Domestic airlines such as Indian Airlines, Jet Airways, and Kingfisher Red connect Nagpur with major cities like Mumbai, Delhi, Hyderabad, and Kolkata.

Nagpur is set to be a prominent destination on India’s aviation map as the country’s first ever Multi-modal International Cargo Hub (MI-HAN) is expected to contribute significantly to the development of the city as well as the economically backward Vidarbha region.

Source: www.madcindia.org

MIHAN: Multi-modal International Cargo Hub at NagpurMIHAN – Multi-modal International cargo Hub and Airport is an airport project at Dr. Babasaheb Ambedkar International Airport, Nagpur. It is one of the biggest ongoing economic development project in India. Total land being acquired for MIHAN project is around 4,025 hectares out of which 2,086 hectares would be SEZ. Till date 2,468 hectares of land has already been acquired and process for acquisition of remaining land has been initiated.

The main aim of the project is to take advantage of central position of Nagpur and develop the present airport into a major cargo hub with integrated road and rail connectivity.

Government of Maharashtra has developed a special purpose en-tity - Maharashtra Airport Development Corporation (MADC) for development of MIHAN. The state government has allocated Rs. 1000 million for the MIHAN project and bankers have sanctioned a loan to the tune of Rs. 4000 million.

Project MIHAN is primarily divided into two parts:a.

b.

The project includes an SEZ, a captive power plant, a health city, road and rail terminals, an international school and a residential area. •

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An International airport to act as a cargo hub and

A Special Economic Zone(SEZ) with residential zone on the southern end of Nagpur

MIHAN will have 2, 4 and 6 lanes road. The total internal length of roads would be around 51 kms.

There would be two flyovers built over the NH-7 which runs on one-side of project. These flyovers would help con-nect MIHAN with other side of highway without causing traffic congestion

International Airport:MADC will expand the existing airport of 400 hectares to 1,278 hectares. The length of the Nagpur Airport runway would be up-graded from 3,200 x 45 meters to 4,000 x 60 meters. Parking space would be provided for 50 aircrafts in the terminal and 50 aircrafts in remote. Project is also planning a separate cargo com-plex for handling and transferring cargo to and fro from the airport. MADC is projecting a passenger traffic of 14 million and cargo traffic of 0.87 million tones a year by 2030.

The company is also planning to provide space to airline operators for maintenance, refurbishment and overhauling purposes.

SPECIAL ECONOMIC ZONES. NO. NAME LOCATION TYPE STATUS

1 Maharashtra Airport Development Company Limited (MADC)

Mihan, Nagpur, Maharashtra Multi product Under-Construction

Out of the total land of 2086 hectare for SEZ, about 1472 hectares would be utilized for processing and another 614 hectares for non processing activities.

To facilitate smooth working of MIHAN project, one central facility building is set up which will house offices of various government departments working for MIHAN and it plans to house other gov-ernment offices like post office, customs and excise office. The building resembles ‘W’ in elevation. It is located at the main en-trance of the SEZ.

Major sections of SEZ plans to include the following:a.

b.

c.

d.

Proposed units within SEZ:•

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Manufacturing units of all major industries viz., textile and gar-ment, gems and jewelry, food processing, pharmaceuticals

Service sector units i. e. Banking financial sector units

Health city which would have multi specialty hospitals and training institutes

Residential sector alongwith international school and recre-ational facilities like multiplex, golf course etc.

Leading IT Companies like TATA Consultancy Services Ltd., HCL Technologies Ltd., M/s. Wipro Technologies Ltd., Hexaware Technologies Ltd. have taken land to set up their IT operations in the MIHAN, SEZ

Leading Developers like L&T Infrastructure Development Projects Ltd., DLF Ltd., Shapoorji Pallonji & Co. Ltd., Ambuja Realty Development Ltd. and RMZ Corp.have been alloted land for setting-up IT park in the MIHAN, SEZ

Current Status:The first integrated township within MIHAN, First City, has already started construction work. It is an Indo Malaysian venture between Mumbai based Reatox Builders and IJM corporation Bhd through an Indian subsidiary IJMII which is the procurement contractor for Reatox

TAL manufacturing Solutions Ltd, a fully owned subsidiary of Tata Motors has become partially operational which would cater to the global needs of Boeing

Over 50 units which have been allotted land in the MIHAN SEZ have not started operations; majority being IT sector companies which are facing heat of economic slowdown

Some of the major players have delayed the construction plans owing to economic slow down

Satyam computers, which was amongst the first investor’s in MIHAN is awaiting a nod from the new management to start work at MIHAN

Boeing as well as Duke Aviation, have plans to set up their maintenance, repair and overhaul depot at MIHAN, however, construction work is yet to commence

Source: Ministry of Commerce & Industry, Dept. of Commerce

MAJOR RESIDENTIAL LOCATIONS IN NAGPUR

Note : Map not to scale and is for illustration purposes only.

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The city’s shopping needs are met by high street markets in Sitabuldi, Sadar, Central Avenue, and Gandhi Baug

Dharampeth and Itwari have emerged as a popular alternative

The total area covered by shopping malls in Nagpur is cur-rently around 5 lakh sq.ft.

MALL NAME SITE LOCATIONTOTAL AREA IN SQ. FT.

(APPROX.)STATUS

Empress Mall New Shukrawar Talao 800,000 Under Construction

Eternity Sitabuldi 250,000 Operational

Landmark Ramdas Peth 74,000 Operational

Orange Mall Sitabuldi 10,00,000 Proposed

Poonam Mall Wardhaman Nagar 200,000 Operational

Poonam Mall Khamla 400,000 Under Construction

INOX at the Poonam Mall in Wardhman Nagar introduced the multiplex phenomenon to the city

KSL and Industries Ltd is coming up with an integrated proj-ect – Empress City. It is spread over an area of 25 acres and also houses a mall. The Empress City Mall is in discussions with various international as well as domestic companies for the 8 Lakhs sq. ft. mall space

Source: ICICI Property Services

ORGANISED RETAIL DEVELOPMENT

1%

50%

27%

12%

10%

Source: ICICI Property Services The above represents some of the key developments and not the universe.

ZONE APARTMENT TYPEAVG SIZE OF A FLAT(IN SQ. FT.)

NO. OF UNITS

TOTAL AREA (MILLION SQ. FT.)

North

2 BHK 984 460 0.45

3 BHK 1261 484 0.61

4 BHK & above / PH 1983 256 0.51

Sub total (North Nagpur) 1200 1.57

South

1 BHK 808 131 0.11

2 BHK 1089 1160 1.26

3 BHK 1476 601 0.89

4 BHK & above / PH 1960 350 0.69

Sub total (South Nagpur) 2242 2.94

East

1 BHK 600 4 0.00

2 BHK 815 13 0.01

3 BHK 1125 12 0.01

Sub total (East Nagpur) 29 0.03

West

2 BHK 787 362 0.28

3 BHK 1414 76 0.11

4 BHK & above / PH 2048 33 0.07

Sub total (West Nagpur) 471 0.46

Central

2 BHK 1409 244 0.34

3 BHK 1738 168 0.29

4 BHK & above / PH 2390 134 0.32

Sub total (Central Nagpur) 546 0.96

Total Supply expected by Dec 2014 4488 5.95

Nagpur city would see an influx of residential supply to the tune of 5.95 mil-lion sq. ft. by 2014. The zonewise break up is as below.

Nagpur residents have a preference for individual houses / Bungalows over apartments.

Distribution of residential supply (no. of residential units) in pipeline across Nagpur

Source: ICICI Property Services The above represents some of the key developments and not the universe.

South

North

Central

West

East

SUPPLY OF RESIDENTIAL UNITS

The building was declared open on 6th January, 1940

Major Locations:Bayramji Town, Friends colony, Gorewada, Sadar, Godhani Road, Zingabai Takli, Hazari Pahad, Katol Road, Koradi Road.

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Residential Market in North Nagpur

Average Apartment Size of 2 BHK in Sq. ft 984


Average Apartment Size of 4 BHK above & PH in Sq. ft 1983

Total Supply (in million sq. ft.) by December 2014 1.57

Total Supply (in no. of units) by December 2014 1200

Source: ICICI Property ServicesNote:- Areas mentioned are built-up areas- In the absence of complete details, some residential projects in North Nagpur by developers like Shriram Bilcons Pvt Ltd, Panchavati Builders, Ishwari Constructions and Rachana constructions pvt. Ltd., have not been included in the current supply.

Bayramji town is one of the prominent upscale residential ar-eas in North Nagpur

Friends Colony is one of the largest upcoming suburban areas on Katol Road. Its a cosmopolitan area with tall buildings and Duplex flats donning the landscape.

Some of the major residential developments are hap-pening around Gorewada, Zingabai Takli and Nara area

Sadar, close to railway station, is famous for shopping and is a very prominent location in Nagpur

Famous locations in Sadar include NIT Building, Karachiwala Mall, Kasturchand Park, IT Park, Anjuman Engineering College complex, Govt Polytechnic, Governor’s House and Mangal-wari Bazar, Dinshaws and Tuli Hotel

This area was predominantly developed by Cat B and C de-velopers; now Cat A builders like Rachana Constructions, Pio-neer group and N Kumar Group have started constructions in this area

Ramnath Group and SICOM Realty Pvt. Ltd are coming up with an integrated project – Ramnath city on Koradi Road, located about 4 kms from Sadar » »

It is a township spread over 20 acresIt consists of about 700 residential units well equipped with modern amenities

39%

40%

21%

Distribution of Apartment Type- North Nagpur

2 BHK

3 BHK

4 BHK & Above / PH

Some of the Residential projects in North Nagpur

NAME OF THE PROJECT

DEVELOPERAVERAGE CAPI-

TAL VALUES (RS./SQ. FT.)

UNITS AVAILABLE

DATE OF COMPLETION

Aman Pride Green City Builders

2000 68 Mar-11

Pioneer Green Court

Pioneer Builders and Developers

1800 75 Aug-11

Pyramid Pyramid Group 1050 - 1800 300 Dec-14

Ramnath City Ramnath Group 1020 - 2100 576 Dec-14

Source: ICICI Property Services-Rates mentioned above are based on built up area and are subject to amenities, upkeep and may vary from apartment to apartment within the same building.-Rates mentioned above are subject to change at any given point of time.

Residential Property rates in prime residential markets of North Nagpur

LOCATIONAVERAGE CAPITAL

VALUES (RS./ SQ.FT.)

AVERAGE RENTALS FOR 2 BHK (RS. / MONTH)

OUTLOOK

Byramji Town 4000 10000 S

Friends Colony & Hajaripahad

2500 5000 R

Gorewada 1800 4000 S

Sadar 4500 10000 S

Zingabai Takli 1800-2000 4000-4500 S

Source: ICICI Property Services -Rates mentioned above are based on built up area and are subject to amenities, upkeep and may vary from apartment to apartment within the same building.-Rates mentioned above are subject to change at any given point of time

Outlook key:R - Rising | F - Falling | S - Stagnant | SW - Stagnant but likely to weaken | SS - Stagnant but likely to strengthen


Property Price Movement (Dec 2004 – Dec 2009)

Source: ICICI Mortgage Valuation Group (Assuming 100 as a base reference no. for Dec 2004)

Zingabai Takli

Koradi Road

K.T. Nagar

Sadar

Hazari Pahad, Katol Road

Godhani Road

Gorewada

Comparison of actual (A) and real & logical (R&L) price movementThe real & logical (R&L) price is considered to move in line with the consumer price index. Below chart brings out a comparison between quarterly property price movements and changes in consumer price index for North Nagpur. Since zone wise inflation data is not available we have substituted Nagpur inflation figures for each zone.

The actual property prices in North Nagpur have increased more than proportionately as compared with real and logical prices. The trend seems to have continued in recent quarters as well.

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North Nagpur

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North Nagpur

The second residence of the Governor of Maharashtra

Major Locations: Besa, Beltarodi, Manish Nagar, Somalwada, Trimurti Nagar, Naren-dra Nagar, Sakkardara, Maewada, Chichbhavan.

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South Nagpur is well known for its plot projects. Huge land parcels are available in the Besa area. Grace Realty, Ashtavi-nayak Group are some of the developers who have plot proj-ects in Southern Nagpur

Somalwada has seen a lot of residential development in last 4-5 years and there is a lot of construction activity going on in this area

Trimurti Nagar is one of the most peaceful and tranquil areas of Nagpur. It has grown rapidly in the past years

Besa, Beltarodi and Manish Nagar are some of the upcoming residential areas in South Nagpur

Besa-Beltarodi area was recently in news for violation of the Development Control Regulations (DCR) and Floor Space In-dex (FSI) norms

Narendra Nagar within South Nagpur is also a well developed residential area and is witnessing a good residential develop-ment in recent years

Kalamna is the one of the largest wholesale markets for or-anges and grains in Asia

Vidarbha Cricket Association (VCA) has constructed a cricket stadium of international standards at Jamtha. The stadium is located on NH 7 at 18 kms from Nagpur

The Butibori industrial zone is the one of the largest in Asia in terms of area »

units such as Indo Rama Synthetic (I) Ltd., Woolworth, Fab-worth and Texprint etc »

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Southern Nagpur is rapidly witnessing huge residential sup-ply due to MIHAN project

First City is an integrated township spread over 31 acres and would be equipped with all modern amenities

The Empyrean is a fully integrated township spread over 152 acres and has plan of developing around 5000 residential units alongwith a school, heath care center, office spaces, shopping areas, hotel and an entertainment complex »

Sahara City is an integrated township and is spread over an area of 106.65 acres with proposed residential built up area around 3.16 Lakh sq. meters, commercial area of around 27,932 sq. meters and road length network of 5.05 kms. »

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Developed on 2312 hectares of land, it is getting estab-lished as a textile zone with presence of major textile

It also houses some prominent industries like ACC, Elec-trolux, Videocon group, besides several medium- sized units that manufacture variety of productsTo make the Butibori Industrial Estate a self sufficient zone, the MIDC has also provided for residential and commercial sectors

The project has been landscaped by world’s fourth largest architectural firm Aedas and has FDI from FIRE capital

It proposes to house a 30 bed multi-specialty hospital with advanced diagnostic facilities It has plans to start a school imparting education to around 1500 studentsIt proposes to construct a wi-fi enabled hotel with 120 rooms and capacity of 800 guestsThere would be a mall and 3 screen multiplex with com-bined sitting capacity of more than 900 people

Residential Market in South Nagpur Average Apartment Size of 1 BHK in Sq. ft 808



Average Apartment Size of 4 BHK above & PH in Sq. ft

1960

Total Supply (in million Sq. ft.) by December 2014 2.94


Source: ICICI Property ServicesNote:- Areas mentioned are built-up areas- In the absence of complete details, some residential projects in South Nagpur by developers like Gruhlaxmi Con-struction and land developers, Radiance Erectors Pvt Ltd., Gandhi Builders and developers have not been included in the current supply.

Distribution of Apartment Type- South Nagpur


1 BHK

2 BHK

3 BHK

4 BHK & Above / PH

Some of the Residential projects in South Nagpur

NAME OF THE PROJECT


TAL VALUES (RS. / SQ. FT.)

UNITS AVAILABLE

DATE OF COMPLETION

First City Reatox Builders and Developers Pvt. Ltd

2300 611 Dec-10

Hyatt Mega-plex

Millenium Builders And Developers Pvt. Ltd

1800 102 Dec-10

Meghdoot Estate

Raghav Associates 1600 164 Dec-10

Sahara City Sahara India 3500 305 Dec-10

Shanti Heights HIDC 2200 72 Dec-10

Shiv Heights Om Shivam Buildcon

2000 -2250 175 Mar-10

The Empyrean Fire Arcor pvt. Ltd. 1600 201 Dec-10

Yashodham Enclave

Vrindavan con-structions

3200 96 Oct-10


Residential Property rates in prime residential markets of South Nagpur


VALUES (RS. / SQ.FT.)

AVERAGE RENTALS FOR2 BHK (RS. / MONTH) OUTLOOK

Besa 2000 4500 R

Hanuman Nagar 3000 7000 S

Manewada 1200 3000 S

Sakkardara 1800 4000 S

Somalwada 2400 6000 R

Trimurti Nagar 2500 7000 R

Source: ICICI Property Services -Rates mentioned above are based on built up area and are subject to amenities, upkeep and may vary from apartment to apartment within the same building.-Rates mentioned above are subject to change at any given point of time

27%

6%15%

52%




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South Nagpur

South Nagpur

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Pratap Nagar

Manewada

Besa

Trimurti Nagar

Manish Nagar

Narendra Nagar

Chinchbhavan

Comparison of actual (A) and real & logical (R&L) price movementThe real & logical (R&L) price is considered to move in line with the consumer price index. Below chart brings out a comparison between quarterly property price movements and changes in consumer price index for South Nagpur. Since zone wise inflation data is not available we have substituted Nagpur inflation figures for each zone.

Since 2006 there has been a widening gap between the residential property price and the logical price levels. Post 2008, the property prices have increased at more than double the rate as compared with real and logical price levels.

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South (R&L)

Cricket stadium with state-of-the-art facilities

Major Locations: Wardhman Nagar, Itwari, Nandanwan, Pardi, Surya Nagar, Wanjari Nagar, Old Bhandara Road, Panchpaoli, Reshim Bagh.

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Residential Market in East Nagpur






Source: ICICI Property ServicesNote: The areas mentioned are super built up areas

East Nagpur is one of the preferred residential location’s for the business community; despite being congested, it still finds preference with the business community. There is not much scope for new development, as such, the stress is on redevelopment. Due to the space constraint, new develop-ment is possible only in the outskirts, near Bhandara Road

Wardhaman Nagar is an upscale residential area. This is one of the few places in the city where people from several differ-ent communities, speaking different languages live together

Itwari is famous for its wholesale food grain market, Sarafa Bazar, cloth and medicines market

Asia’s biggest wood market is at Lakadganj, east Nagpur

This area also has Nagpur’s first multiplex ‘Inox’

The famous medical square comes in eastern part of Nag-pur. This square derives its name from the Government Medical college

14%

45%

41%

Distribution of Apartment Type- East Nagpur

1 BHK

2 BHK

3 BHK

Some of the Residential projects in East Nagpur

NAME OF THE PROJECT



UNITS AVAILABLE

DATE OF COMPLETION

Ratan Height Emaar Developers & Builders Pvt. Ltd.

2500 24 Dec-11

Shri Mayureshwar Apt.

M/s Shree Sid-dheshwar Builders and Developers

1300 5 Mar-10


Residential Property rates in prime residential markets of East Nagpur



AVERAGE RENTALS FOR 2 BHK (RS. / MONTH) OUTLOOK

Nandanwan 2500 6000 S

Pardi 1250 3750 R

Surya Nagar 3000 4000 S

Wardhaman Nagar 3500 7500 S




East Nagpur

50

100

150

200

250

300

350

400

Dec2004

Dec2005

Dec2006

Mar2007

Jun2007

Sep2007

Dec2007

Jan2008

Mar2008

Sep2008

Dec2008

Jan2009

Mar2009

Sep2009

Dec2009

100

150

200

250

300

350

Dec 2005

Dec 2006

Mar 2007

Jun 2007

Sept 2007

Dec 2007

Mar 2008

Jun 2008

Sept 2008

Dec 2008

Mar 2009

June 2009

Sep 2009

East Nagpur



Wanjari Nagar

Old Bhandara Road

Panchpaoli

Reshim Bagh

Ayodhya Nagar

Nandanwan

Comparison of actual (A) and real & logical (R&L) price movementThe real & logical (R&L) price is considered to move in line with the consumer price index. Below chart brings out a comparison between quarterly property price movements and changes in consumer price index for East Nagpur. Since zone wise inflation data is not available we have substituted Nagpur inflation figures for each zone.

As is apparent from the above chart, there has been disproportionate rise in residential property prices as compared to the real and logical prices in East Nagpur. The same trend seems to have continued in the current quarters as well.

East (A)

East (R&L)

The geographical center of India

Major Locations: Seminary Hills, Laxmi Nagar, Shraddhanand Peth, Dharampeth, Ravi Nagar, Shivaji Nagar, Bharat Nagar, Swavalambi Nagar, Jaitala, Hin-gana Road.

•

•

•

Residential Market in West Nagpur






Source: ICICI Property ServicesNote: -Areas mentioned are built-up areas-In the absence of complete details, some residential projects in West Nagpur by developers like Swapnil Associates have not been included in the current supply.

Hingna Industrial estate houses around 900 small and medium industrial units. Some of the major units in this area include the tractor manufacturing plant of Mahindra and Mahindra, Ajanta toothbrushes, Vicco Laboratories etc

West Nagpur is witnessing some of the good residential devel-opment at Seminary Hills, Cement Road, Swavlambi Nagar etc.

Lakeview Enclave, located on Amravati Road, is a premium residential project by Sandeep Dwellers. Himalaya Builders has come up with an upscale residential project near Cement Road

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•

•

•

•

•

•

West Nagpur is a preferred residential location for the sala-ried class and professionals. The area is well planned with better infrastructure facilities and provides good potential fornew development

Seminary Hills is home to educational institutes like SFS Col-lege, LAD, KV, Center Point school and offices like Air Force, CGO Complex, TV Tower. For entertainment there is Joggers Park, Deer Park, Toy Train, swimming pools etc

Laxmi Nagar and Shraddhanand Peth are amongst the posh residential areas in West Nagpur

Dharampeth is noted for a variety of up-scale shops, restau-rants, and a retail vegetable market. It also doubles up as an everyday hang-out for the Nagpur youth and is one of the ma-jor market areas in West Nagpur. Dharampeth is also known for its upscale residential market

Haldiram’s Krazy Castle Aqua Park, near Ambazari lake, is a big attraction for children

Ravi Nagar, Shivaji Nagar and Bharat Nagar are amongst up-scale locations in West Nagpur and are famous for the high end residential projects

The West High court Road starting from Bajaj Nagar passes through Dharampeth, Gokul Peth goes to the Western Part of High Court. This entire area is well known for its premium resi-dential properties

77%

7%

16%

Distribution of Apartment Type- West Nagpur

2 BHK

3 BHK

4 BHK & Above / PH

Some of the Residential projects in West Nagpur

NAME OF THE PROJECT



UNITS AVAILABLE

DATE OF COMPLETION

Imperial Tower

Shivraj Infrastruc-tures Pvt. Ltd

2000 80 Apr-10

Orbital Empire Guddhe housing developers and Promoters

2000 128 Dec-10

Sterling Tower Shivraj Infrastruc-tures Pvt. Ltd.

2000 48 Apr-10


Residential Property rates in prime residential markets of West Nagpur




Bajaj Nagar & Laxmi Nagar

4000 10000 SS

Dharam Peth 5000 10000 R

Ravi Nagar 3500 8000 SS

Shivaji Nagar 4000 8000-10000 SS

Source: ICICI Property Services-Rates mentioned above are based on built up area and are subject to amenities, upkeep and may vary from apartment to apartment within the same building.-Rates mentioned above are subject to change at any given point of time.Source: ICICI Property Services


West Nagpur

50

100

150

200

250

300

350

400

Dec2004

Dec2005

Dec2006

Mar2007

Jun2007

Sep2007

Dec2007

Jan2008

Mar2008

Sep2008

Dec2008

Jan2009

Mar2009

Sep2009

Dec2009

100

150

200

250

300

350

Dec 2005

Dec 2006

Mar 2007

Jun 2007

Sept 2007

Dec 2007

Mar 2008

Jun 2008

Sept 2008

Dec 2008

Mar 2009

June 2009

Sep 2009

West Nagpur



Comparison of actual (A) and real & logical (R&L) price movementThe real & logical (R&L) price is considered to move in line with the consumer price index. Below chart brings out a comparison between quarterly property price movements and changes in consumer price index for West Nagpur. Since zone wise inflation data is not available we have substituted Nagpur inflation figures for each zone.

The above graph depicts the difference between actual property prices and real and logical prices in West Nagpur. The actual property prices in West Nagpur are well above the real and logical prices.

West (A)

West (R&L)

Shivaji Nagar

Amravati Road

Dharampeth

Rani Laxmi Nagar

Jaitala

Swavalambi Nagar

Hingna Road

Named after famous Nobel Prize winner and Indian physicist Chandrasekhara Venkata Raman

Residential Market in Central Nagpur






Source: ICICI Property ServicesNote: Areas mentioned are built-up areas

»Major Locations: Civil Lines, Mahal, CA Road, Sitabuldi, Dhantoli, Ramdaspeth, Cot-ton Market, Gandhi Sagar Lake area, Great Nag Road

It proposes to have a shopping mall with multiplex, IT park, commercial centers and a five star hotel alongwith the residential development having all modern amenities

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•

•

•

•

The Civil Lines area houses most of the government offices and residences in Nagpur including the Bombay High Court bench and the Vidhan Bhavan. The area is noted for its green-ery, roads, cleanliness and its upscale residential properties

Mahal is the old part of Nagpur, and is noted for its relatively narrow streets and crowded residential quarters

CA Road, Civil Lines are some of the prominent locations in Central Nagpur, preferred by the business community »

Sitabuldi is the main commercial part of the city. It contains numerous shops of all sizes and the largest wholesale veg-etable market in Nagpur

Dhantoli is one of the most exclusive residential area in Nag-pur. This locality is home to several business tycoons, corpo-rate high rollers, professionals and artists.

Ramdaspeth the location for many upscale and prominent residences, the neighborhood also boasts of numerous up-scale shops, public and private offices

TATA Group started the country’s first textile mill – Central India Spinning and Weaving Company Ltd., at Nagpur. The company was popularly known as Empress Mill as it was inaugurated by Queen Victoria. The project Em-press City is located on the erstwhile Empress Mills space »

CA Road is one of the longest roads in Nagpur, starting from Central Avenue and extending right up to the Eastern end of Nagpur

It is an integrated project located in the central area at Cotton Market and is spread over 25 acres

45%

31%

24%


Distribution of Apartment Type- Central Nagpur

2 BHK

3 BHK

4 BHK

Some of the Residential projects in Central Nagpur

NAME OF THE PROJECT



UNITS AVAILABLE

DATE OF COMPLETION

Empress City Reward Real Estate 5900 400 Jun-11

Garden Enclave

Kores Realty (Suhasini Realty)

3500 64 Mar-11

Ratan Plaza EMAAR Developers & Builders Pvt. Ltd.

2200 36 May-10


Residential Property rates in prime residential markets of Central Nagpur




C A Road 3000 6000 S

Civil Lines 5000 12000 R

Dhantoli 4500 10000 R

Mahal 2000 5500 S

Ramdaspeth 5000 12000 R

Sitabuldi 5000 8000 SS





Central Nagpur

100

150

200

250

300

Dec 2005

Dec 2006

Mar 2007

Jun 2007

Sept 2007

Dec 2007

Mar 2008

Jun 2008

Sept 2008

Dec 2008

Mar 2009

June 2009

Sep 2009

350

Central Nagpur

Dec2004

Dec2005

Dec2006

Mar2007

Jun2007

Sep2007

Dec2007

Jan2008

Mar2008

Sep2008

Dec2008

Jan2009

Mar2009

Sep2009

Dec2009

50

100

150

200

250

300

350

400

Comparison of actual (A) and real & logical (R&L) price movementThe real & logical (R&L) price is considered to move in line with the consumer price index. Below chart brings out a comparison between quarterly property price movements and changes in consumer price index for Central Nagpur. Since zone wise inflation data is not available we have substituted Nagpur inflation figures for each zone.

The actual property prices in Central Nagpur have always been higher than the real and logical prices. The gap has been widening since 2005.

Central (A)

Central (R&L)

Cotton Market

Great Nag Road

Chhoti Dhantoli

Ramdaspeth

Gandhi Sagar Lake

Ideal business hub with easy access to all the metro cities of India

Nagpur Residential Real Estate : Absorption Index

130

120

110

100

90

80

70

60

50

Apr2008

May2008

Jun2008

July2008

Aug2008

Sep2008

Oct2008

Nov2008

Dec2008

Jan2009

Feb2009

Mar2009

Apr2009

May2009

Jun2009

Jul2009

Aug2009

Sep2009

Oct2009

Nov2009

The residential realty space in Nagpur experienced a drop in transactions from January ’09. Since then there seems to be a stability in market backed by correction in property rates as can be seen in the absorption index chart below.

We have short-listed below nine prime locations within Nagpur and critically examined them on various parameters like infrastructure, residential costs in the region, future employment prospects, etc. as detailed in the matrix below. Civil Lines appears to be scoring above other locations due to very good infrastructure, proximity to retail and commercial areas.

RAMDAS-PETH

DHARAM-PETH

WARDHAROAD

KORADI ROAD

CIVIL LINES

PRATAPNAGAR

LAXMI NAGAR

WARDH-MAN

NAGAR

SOMAL-WADA

Infrastructure (connec-tivity, road, proximity to markets, schools)

Residential Cost

Proximity to presence of organised retail

Proximity to commercial development

Future Infrastructure development

Future Employment generation


Key to the Location Attractive Index:

Good / Low

Above Average

Average / Medium

Below Average

Bad / High

LOCATION ATTRACTIVENESS INDEX

ICICI Property Services is a division of ICICI Home Finance Company Limited, a 100% subsidiary of ICICI Bank. ICICI PSG provides real estate solutions to home seekers, corporate investors, space occupiers and developers / landlords. ICICI Property Services addresses the entire bandwidth of a real estate deal from concept to conclusion. Research & Consultancy (R&C), a specialised group within ICICI PSG, offers both real estate advisory and consumer demographic analysis backed by both primary & secondary research. The following chart explains in brief the various services offered by R&C.

FEASIBILITY STUDIES ASSET ADVISORY STRATEGIC ADVISORY MARKET RESEARCH

• Location Analysis

• Market Analysis

• Size, Pricing, Phasing and

Positioning (Space Program-

ming & Demarcation for

Optimum Utilisation of

space)

• Financial Analysis

• Optimum Land Use

Analysis

• Site Analysis & SWOT

• Catchment Analysis

• Trade & Tenant Mix

• Land Valuation

• Entry Strategy

• Pricing Strategy

• City and Region Prioritisa-

tion and Expansion Strategy

• Supply Estimation

• Demand Projections

• Expected Absorption Trends

• Demographic Analysis

• Consumer Trends

• Consumer Behaviour

Analysis

RESEARCH & CONSULTANCY

This document is being communicated to you solely for the purposes of providing our views on current market trends.

This document is being communicated to you on a confidential basis and does not carry any right of publication or disclosure to any third party. By accepting delivery of this document each recipient undertakes not to reproduce or distribute this presentation in whole or in part, nor to disclose any of its contents (except to its professional advisers) without the prior written consent of ICICIHFC Ltd., who the recipient agrees has the benefit of this undertaking. The recipient and its professional advisers will keep permanently confidential information contained herein and not already in t he public domain.

This document is not an offer, invitation or solicitation of any kind to buy or sell any security and is not intended to create any right or obligations. Nothing in this document is intended to constitute legal, tax, securities or investment advice, or opinion regarding the appropriateness of any investment, or a solicita-tion for any product or service. The use of any information set out in this document is entirely at t he recipient’s own risk.

The information set out in t his document has been prepared by ICICI HFC Ltd., based upon projections which have been determined in good faith by ICICI HFC Ltd. There can be no assurance that such projections will prove to be accurate, ICICI HFC Ltd. does not accept any responsibility for any errors w het her caused by negligence or otherwise or for any loss or damage incurred by anyone in reliance on anything set out in this document. The information in this document reflects prevailing conditions and our views as of this date, all of which are subject to change. In preparing this document we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us or which was otherwise reviewed by us. Past performance cannot be a guide to future performance.

No reliance may be placed for any purpose whatsoever on the information contained in this document or on its completeness. The information set out herein may be subject to updating, completion, revision, verification and amendment and such information may change materially.

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