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Overview of Aurangabad

Aurangabad, situated in central Maharashtra, is a city rich in historical significance, economic growth, and real estate opportunities. Here’s an in-depth look from a real estate standpoint:

Economic and Industrial Growth

• The city is rapidly developing economically, specifically post its inclusion in the Smart Cities Mission. This has greatly improved city planning, infrastructure, and living standards.
• Aurangabad hosts several industrial zones like Waluj, Chikalthana, and Shendra. Major companies, such as Bajaj Auto, Coca-Cola, Siemens, and Volkswagen, thrive in these areas, attracting many investors and residents.

Educational and Cultural Hub

• As a major educational center, Aurangabad houses institutions like Government Polytechnic Aurangabad, MIT College, Ellora English School, and Jain International School. This attracts a large student crowd from all over India.

Infrastructure Development

• Central to this growth is the Samruddhi Mahamarg Expressway, part of the Nagpur-Mumbai Super Communication Expressway. It strengthens connectivity within the city and beyond.
• Enhanced road and rail links, including the Beed Bypass Road and Paithan Road, make many city areas easily reachable.

Real Estate Opportunities

Residential Real Estate

• Main Spots:

  • Satara Parisar: Known for strong links and nearby schools. Property prices stretch from ₹18 lakh to ₹1.1 crore.
  • Beed Bypass: Excellent connections and many educational establishments. Price range is ₹18 lakh to ₹1.25 crore.
  • Paithan Road: Recent high appreciation in prices with good rental benefits.
  • N 7, Cidco: Prices per square foot range from ₹3,750 to ₹8,400, with an average of ₹5,605.

• Rent Income: Areas like Garkheda, Kanchanwadi, Paithan Road, Ulkanagari, and Beed Bypass Road provide great rental returns from 2.4% to 3.9%.

Commercial Real Estate

• Industrial Spots:
  • Waluj: House to Bajaj Auto and Coca-Cola, starting at ₹2,151 per square foot.
  • Chikalthana: Known for ready-to-occupy offices starting from ₹9,687 per square foot.
  • Shendra: A key industrial hub starting from ₹1,053 per square foot.

Factors Affecting Property Rates

• Location and Amenities: Close access to amenities, schools, and job spots greatly influences property costs.
• Infrastructure Growth: Ongoing infrastructure initiatives greatly drive up property values and rental returns.
• Supply and Demand: The balance between demand and supply of properties affects price trends in the city.
• Economic Activity: Urban growth, driven by industrial and educational sectors, shapes the real estate market.

Steps for Real Estate Investment in Aurangabad

• Budgeting: Figure out your investment and research available properties.
• Location Evaluation: Find promising locations and visit to check real conditions. Look at connectivity, nearby amenities, and traffic.
• Builder Reliability: Verify builder's reputation and authenticity. Ensure properties are RERA registered.
• Paperwork: Gather needed documents such as the sales deed, encumbrance certificate, and title deed. Complete stamp duty and register your purchase.

PropertyWala’s Summary

Aurangabad presents strong real estate investment avenues for buying or renting residential or commercial properties. Its booming economy, major infrastructure projects, and educational focus make it a smart choice. Investors focusing on location, connections, and builder credibility can expect significant returns. Aurangabad combines historical appeal with modern life, promising steady growth and making it an excellent area for real estate investments.