Nagpur's real estate market is exceeding national trends with a rise in home sales, indicating a shift in housing preferences. The primary market has seen a significant uptick, with residential unit sales rising from 1,383 in 2019-20 to 2,211 in 2023-24. However, unsold inventory is also on the rise, expected to reach 14,300 units by January 2024, valued at Rs 6,605 crore. Factors like infrastructure development and an influx of young professionals are driving this growth, with larger units like 3 and 4 BHK apartments gaining popularity. Southern localities like Manish Nagar and MIHAN are top choices for homebuyers, signaling a promising future for Nagpur's real estate sector.Read more

The Nagpur Municipal Corporation's amnesty scheme yielded INR 18.63 crore as 25,879 property owners availed of the initiative, effective until March 31. The Urban Development Department revised the rebate scheme, reducing multiple penal interests for defaulters. Deputy Chief Minister Devendra Fadnavis announced the revamped scheme after a District Planning Committee meeting. With an 80% penalty waiver for tax defaulters paying dues in full, the NMC pardoned INR 4.63 crore for 25,879 defaulters. The initiative covers outstanding property taxes, water charges, and shop rents, allowing citizens to pay at NMC headquarters, zonal offices, or online platforms.Read more

Deputy Chief Minister Devendra Fadnavis urges rapid implementation of the District Planning Committee's (DPC) Rs. 668.72 crore plan for 2024-25 before the model code of conduct for upcoming elections. The DPC greenlighted the budget, including an additional demand of Rs. 1,431 crore, totalling Rs.2,100 crore for the district. Changes in financial criteria for rural gymnasiums and concerns over sports-related project materials are noted. A significant budget adjustment reduces funds for a self-help group mall, while Fadnavis enhanced emergency capabilities by providing 5 fire tenders and 11 SUVs through DPC funds.Read more

Nagpur's MIHAN-SEZ has requested DLF and other companies, to return over 140 acres allotted in 2007 for an IT Park, citing the company's failure to initiate construction over 15 years. DLF was expected to develop IT towers, generating employment for 1 lakh people, but no progress has been made. Notices have been issued, urging DLF to submit a development plan. MIHAN, spanning 4,300 hectares, aimed for an IT boom, but competition from other cities hindered progress. SEZ authorities reveal 20% occupancy, 68% vacant land, and inactive units. MADC leased land to major IT companies, emphasizing the need for strategic development in Nagpur.Read more

The National Highways Authority of India (NHAI) has formalized an agreement with DC Multi Modal Park (Nagpur) to develop a Rs. 673 crore Multi-Modal Logistics Park (MMLP) in Nagpur, covering 150 acres. Aligned with the PM Gati Shakti National Master Plan, this project is a crucial component of the Bharatmala Project, aiming to enhance India's freight logistics sector. The strategic location, proximity to transportation hubs, and phased development approach underscore the significance of the Nagpur MMLP in fostering efficient multimodal connectivity and contributing to the broader vision of logistics infrastructure development in the country.Read more

Nagpur Municipal Corporation's fire audit exposed serious safety lapses, identifying 1,848 high-rise and special buildings lacking firefighting measures, violating Maharashtra's fire safety laws. Among these, 1,286 were declared unsafe, prompting eviction notices. To enforce the eviction, authorities disconnected water and power to 821 buildings, with criminal cases filed against 122 building owners. The audit also revealed alarming data that of the 5,595 buildings, only 903 obtained fire compliance certificates. The police are instructed to act, while district court cases highlight violations, primarily related to missing firefighting arrangements and unauthorized constructions. The situation underscores the critical need for stringent fire safety measures.Read more

The Nagpur Municipal Corporation (NMC) has intensified its crackdown on property tax defaulters by attaching 225 vacant plots in the Hanuman Nagar zone, totalling Rs 45.52 lakh in defaults. The affected plots include those owned by Shewanta Co-operative Housing Society Limited, Suvikas Co-operative Housing Society Limited, and Gangotri Developers, all located in the Hudkeshwar area. This action follows earlier notices and warrants issued by the NMC to property owners, emphasizing the municipality's commitment to enforcing property tax regulations and recovering outstanding dues.Read more

The Nagpur Municipal Corporation (NMC) is undertaking an extensive recovery drive to address financial challenges exacerbated by defaults in property tax payments. The corporation aims to earn Rs 300 crore in property taxes for the current financial year and has already added Rs 150 crore to its exchequer as of November 20. To boost collection efforts, the NMC has initiated property attachments and public auctions, utilizing legal provisions to recover outstanding arrears. The proactive approach underscores the municipality's commitment to achieving revenue targets and addressing financial constraints. Zone assistant commissioners have been directed to expedite proceedings for property tax recovery warrants issued to defaulters.Read more

In a recent move, the Nagpur Municipal Corporation (NMC) has taken stringent action against property tax defaulters in the Mangalwari zone. The NMC has attached five open plots in Gorewada, Hazaripahad, and Borgaon to recover Rs 28 lakh in unpaid property taxes. Assistant Municipal Commissioner Prakash Warade issued seizure warrants against 15 property tax defaulters, prompting 10 property owners to settle their dues promptly. However, five property owners who owed a cumulative amount of Rs 28 lakh had their properties collectively attached. The seized properties will be auctioned to recover the outstanding tax amount, reinforcing the municipality's commitment to enforcing tax compliance.Read more

Dumping of construction materials on Nagpur's footpaths and roads has more than doubled in the last six years, signalling increased encroachment on public spaces. In 2018, Nagpur Municipal Corporation fined 4,747 people (individuals and builders) Rs 77.46 lakh for such violations. By October 2023, this surged to 8,428 people penalized, with fines totalling Rs 1.92 crore. Concerns were raised by the Commissioner of Police, noting risks to motorists. Ashi Nagar zone experienced the highest violations. Despite regulations mandating permission from the municipal department, these practices persist.Read more

Nagpur District Collector Vipin Itankar conducted a meeting to expedite the land acquisition process for the second phase of the Nagpur Metro project. The meeting addressed several pending land acquisition proposals and emphasised the need for timely planning to avoid delays. Itankar instructed the revenue department to ensure prompt disposal of all acquisition proposals and encouraged better coordination between the revenue department and the Metro for quicker results. Additionally, discussions with the defence department about land issues on Wardha Road were urged. The Metro project aims for completion by 2024 but has been hindered by lingering land acquisition proposals.Read more

Godrej Properties, already grappling with legal disputes over a Rs227 crore land deal in Nagpur, now confronts a second lawsuit. The latest suit invokes the Mental Health Act, alleging that a landowner with unsound mind had their share sold without due process. This comes after an earlier case citing Muslim personal law provisions. With hearings set for October 25, the realty giant's Nagpur venture faces increasing legal complexity. Meanwhile, Godrej Properties recently struck a separate Rs350 crore land deal in the region, adding to the intrigue surrounding its operations in Nagpur.Read more

The assessment and compensation process for properties damaged in Nagpur's recent flash floods faced challenges as the extended deadline wasn't met, leaving several areas unexplored. Deputy Chief Minister Devendra Fadnavis had announced financial assistance for affected property owners, but concerns arose about the sufficiency of compensation amounts. Disparities in estimations and demands for including more affected areas highlighted the need for comprehensive assessments. Despite these challenges, the administration aimed to conclude the process efficiently to provide meaningful support to flood-affected residents and businesses. This situation underscores the importance of an effective response and preparedness for natural disasters.Read more

The Nagpur Municipal Corporation (NMC) has identified 1,664 properties, including private hospitals, clubs, lawns, and theatres, with overdue property tax totalling Rs66.38 crore. Private hospitals lead the list with 722 of them owing Rs27.29 crore. Seven clubs owe Rs 28.68 lakh, 322 marriage halls and lawns owe Rs18.83 crore, and 19 theatres owe Rs2.95 crore. NMC plans coercive actions, including property attachment and auction, against these defaulters. Hanuman Nagar zone tops the list with 159 properties, including hospitals and hotels, owing Rs21.12 crore, followed by Dhantoli and Laxmi Nagar zones. NMC aims to ensure regular tax payments from commercial properties.Read more

Godrej Properties Ltd. has acquired a 109-acre land parcel in Nagpur, India, signalling its commitment to expanding its presence in the region. The strategically located land, near major transportation routes and MIHAN SEZ, will be developed primarily for residential plots, with an estimated saleable area of 2.2 million square feet. GPL has been actively acquiring land parcels in response to increased housing demand following the COVID-19 pandemic. In addition to its Nagpur expansion, the company targets significant sales growth and has reported strong financial performance. It recently sold around 670 flats worth over Rs 2,000 crore in Noida.Read more

Residents of South Nagpur have been waiting for the construction of an internal road for 17 years, but the Nagpur Improvement Trust (NIT) has done nothing. Despite the NIT having approved the layout in 2006, encroachments and illegal buildings have impeded the completion of the road. Encroachments were earlier ordered to be removed by the Bombay High Court, but they have since returned. As this road is essential for their safety and convenience, residents are now requesting that the NIT solve the situation.Read more

Two government-owned plots of land in Nagpur have been encroached upon by private parties who built structures without proper permits. The Nagpur Improvement Trust issued demolition notices for these unauthorized constructions in the Dwarkapuri Cooperative Housing Society. The plots were originally designated for the Inner Ring Road. Although the private parties obtained a status quo order from the Minister of State for Urban Development, the removal of these encroachments is necessary for the construction of the Inner Ring Road. Society members have raised concerns about officials protecting illegal activities and have appealed for government intervention. A Public Interest Litigation has been filed to challenge regularization permits under the Gunthewari Act for these plots. The completion of the Inner Ring Road will greatly benefit citizens as part of the National Highway system.Read more

A builder's encroachment on a playground and internal road in Nagpur's Rajiv Nagar and Sita Nagar has disrupted sports, fitness, and recreational activities for residents. Despite a contempt order from the Nagpur bench of the Bombay High Court, Nagpur Municipal Corporation (NMC) officials are neglecting the situation. The builder, Praful Deshmukh and Co, breached the playground's compound wall to store construction materials, affecting children's play and senior citizens' fitness routines. The encroachment also damaged the playground's surface and internal roads. Despite regulations, the builder's actions reveal a disregard for community recreational spaces and rule provisions.Read more

The NMC has successfully sold Plot No. 2 of the Orange City Street Project, earning Rs 51.5 crore and bringing the total revenue from the project to Rs 207 crore. The buyer has already commenced work at the site, which was auctioned six months ago for Rs 13,166 per square foot. NMC has now floated an EoI for the sale of Plot No. 4, expecting to fetch Rs 48–50 crore. With 17 more plots yet to be auctioned, the project has become a highly profitable venture for the civic body. The NMC also plans to auction three additional plots in the near future.Read more

Property owners in Nagpur showcased commendable tax compliance by collectively paying Rs 69.29 crore within three months of the financial year 2023–24. Approximately 47,757 property owners benefited from a 5 percent discount by paying taxes online. The target revenue for the year is set at Rs 300 crore. The city offers rebates of 10 percent and 5 percent on property taxes for early payments. Laxmi Nagar zone recorded the highest tax collection, while Satranjipura zone had the lowest turnout. Property owners who missed the previous rebate deadlines can still avail themselves of a 5 percent rebate by paying before December 31.Read more