Real Estate in Maharashtra

by : Kumar Mangal

Maharashtra has contributed hugely to the development of real estate in the country. Economic progress has given a major fillip to commercial and residential Property development in Mumbai and its satellite cities. Maharashtra Government is encouraging converting barren land for residential and industrial zones on the outskirts of Mumbai city. Maharashtra remains a safe bet even as the real estate market in Maharashtra flourishes in every segment – especially commercial spaces, residential apartments and condominiums, retail malls, hotels or special economic zones.

Some of Mumbai Properties are the most expensive residential and commercial properties in the country. In fact, property prices here compare with the best in the leading cities of the world. Apart from high end residential apartments, retail space in Mumbai reflects a mature property market, with commercial projects, luxury hotels and malls.

The suburbs bask in their share of premium residential properties, hotels and large commercial and retail spaces with glitzy malls and multiplexes. With the announcement of the Special Economic Zone and the Greenfield airport project in Panvel, property prices of residential and commercial in Navi Mumbai have soared.

Real Estate Pune
Commercial Property in Pune has acquired a punch after Information technology and business process outsourcing jobs gravitated to Pune. The network of engineering and management institutes and new industries that are setting root in Pune shows the inclination for India’s most professional, talented and committed manpower.

Pimpri-Chinchwad offers adequate resources for the development of infrastructure and world-class facilities for living. Real estate practices in Pune has reached levels of sophistication in catering to people looking to buy Property in Pune. Investment in real estate in Pune is a big draw and people and companies from around the country and world are setting up homes and offices almost every day.

Residential Property in Pune is prized and up for grabs by home seekers and investors alike. The rates have soared in almost all parts of the city and the suburbs and neighbouring areas are in great demand.

Property prices have appreciated in the growth areas like Hinjewadi, Baner, Kharadi, Kalyani Nagar, Wakad, Pimple-Nilakh and Pimpri-Chinchwad between 10 to as much as 70%.

People have the finest properties to choose from- bungalows, open plots, row houses, duplex flats, penthouses, studio apartments and farm house plots.

It is among the cities chosen for developing new industrial townships by the Maharashtra Industrial Development Corporation. Nagpur Properties has got a fillip for commercial and residential property development in these districts.

Accelerated commercial and residential property development is not a distant dream anymore in Nashik, especially as construction activities are on the upswing, and very much along the lines of Mumbai and Bangalore. Department of Commerce (SEZ Section), Ministry of Commerce & Industry, Government of India has approved an infrastructure project for development of a multi-product Special Economic Zone (SEZ) in Nashik.

Incidentally, Nashik had its first IT hub in January 2007.