Real Estate in Raipur
Raipur: Full of Opportunities and Possibilities
Raipur is the capital of Chhattisgarh. Economy of the state is growing at 11.49% in GDP above national average. The city is developing from rural to urban. Many companies are coming in this city to setting their own hub for business. So it will be good decision to take the opportunity in right way and time. Raipur is among the richest cities & India’s biggest iron market. There are more than 300 rice milling plants, and all major and local cement manufacturing companies have a presence in the city. Like many other Tier II Indian cities, is experiencing a boom in construction and development. One of the potential growth drivers is its direct rail and road connectivity to cities like Kolkata, Pune, Mumbai, Delhi, Kochi, Howrah, Patna,Bangalore etc.,
Due to it’s rich bio-diversity, flora and fauna that have tremendous potential to develop into popular tourist attractions. The state has announced tax incentives and other sops to the private sector for investing in the hospitality sector within the state. Well known hotel groups like Taj Hotels, Club Mahindra, International Park Plaza, Sterling Resorts are planning to start their operations at various places in the state.
Present Scenario:
Property developers are drawing up plans for commercial projects in Raipur. Prabhatam Developers is building a 3.5 lakh sq.ft shopping mall, as well as the Mani group on 4 lakh sq. ft. A Regional Trade Centre on a 50 acre stretch is being planned near Mandi. An IT Park is being developed by Omaxe in Raipur. The Reliance group has invested Rs.1 billion for developing multiplexes in Raipur, Bhilai, Bilaspur, Korba, Raigarh, Ambikapur and Rajnandgaon. It will boost the commercial property sector in Chhattisgarh.
Residential property development in Chhattisgarh is being propelled by developers like Omaxe, Bengal Ambuja, Merlin Projects and many others which are building mega housing complexes and town ships throughout the
Raipur is the capital of Chhattisgarh. Economy of the state is growing at 11.49% in GDP above national average. The city is developing from rural to urban. Many companies are coming in this city to setting their own hub for business. So it will be good decision to take the opportunity in right way and time. Raipur is among the richest cities & India’s biggest iron market. There are more than 300 rice milling plants, and all major and local cement manufacturing companies have a presence in the city. Like many other Tier II Indian cities, is experiencing a boom in construction and development. One of the potential growth drivers is its direct rail and road connectivity to cities like Kolkata, Pune, Mumbai, Delhi, Kochi, Howrah, Patna,Bangalore etc.,
Due to it’s rich bio-diversity, flora and fauna that have tremendous potential to develop into popular tourist attractions. The state has announced tax incentives and other sops to the private sector for investing in the hospitality sector within the state. Well known hotel groups like Taj Hotels, Club Mahindra, International Park Plaza, Sterling Resorts are planning to start their operations at various places in the state.
Present Scenario:
Property developers are drawing up plans for commercial projects in Raipur. Prabhatam Developers is building a 3.5 lakh sq.ft shopping mall, as well as the Mani group on 4 lakh sq. ft. A Regional Trade Centre on a 50 acre stretch is being planned near Mandi. An IT Park is being developed by Omaxe in Raipur. The Reliance group has invested Rs.1 billion for developing multiplexes in Raipur, Bhilai, Bilaspur, Korba, Raigarh, Ambikapur and Rajnandgaon. It will boost the commercial property sector in Chhattisgarh.
Residential property development in Chhattisgarh is being propelled by developers like Omaxe, Bengal Ambuja, Merlin Projects and many others which are building mega housing complexes and town ships throughout the
References: Competitive Strategy and Real Estate Development , HBR http://www.indianground.com/upcoming-cities.aspx Growth Potential Tier II and Tier III cities in India