Aurangabad, West Bengal Property Guide
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What do you mean by FERA?
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Aurangabad, West Bengal Real Estate News
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Real Estate Perspective of Aurangabad
Aurangabad, a pivotal city in Maharashtra, India, stands out as a strong option for real estate investment and owning residential or commercial property. Let me highlight some important factors for review.
Economic and Industrial Development
Aurangabad is seeing fast economic growth, especially after it was included in the Smart Cities Mission. This city is a central point for education, culture, and industrial sectors, with a strong presence of IT and manufacturing industries. Companies like Videocon, Bajaj Auto, Coca-Cola, Siemens, and Baxter have set up their units here, driving the city's economic rise and creating job openings.
Residential Real Estate
The residential real estate market in Aurangabad is thriving, driven by the city's expanding population and housing demand. Notable residential spots include:
- Satara Parisar: Well-known for its strong connection network and educational institutions such as Government Polytechnic Aurangabad and MIT College. Property values here range from ₹18 lakh to ₹1.1 crore.
- Beed Bypass: Popular for good intra- and inter-city connectivity through road and railways. Property rates here range from ₹18 lakh to ₹1.25 crore.
Residential homes like apartments, standalone houses, and co-living areas are available in different sizes and rates. For instance, the apartments in Chikalthana's Dream World complex offer carpets ranging from 723.01 to 2,169.04 sq.ft., costing between Rs. 72 L to 2.13 Cr.
Commercial Real Estate
Aurangabad provides attractive opportunities in commercial real estate, particularly in industrial zones:
- Waluj: Main industrial area with units of Bajaj Auto and Coca-Cola. Commercial property costs about ₹2,151 per square foot.
- Chikalthana: Another key industrial zone with ready-to-move office spaces starting at ₹9,687 per square foot.
- Shendra: Known for industrial units, including those of Volkswagen, Skoda Auto, and Audi India. Commercial land rates start from ₹1,053 per square foot.
Infrastructural Development
The city is seeing noteworthy infrastructural improvements, including the Samruddhi Mahamarg Expressway part of the Nagpur-Mumbai Super Communication Expressway Project. This will increase connectivity and advance the real estate sector.
Market Trends and Pricing
Property prices in Aurangabad vary greatly based on location and property type. For instance, residential properties in N 7, Cidco, have starting prices at Rs. 3,750 per square foot and average prices at Rs. 5,605 per square foot. The general trend shows a steady rise in property values, making it a good investment choice.
Things to Remember
Before investing in Aurangabad's property, it's crucial to:
- Double-check the builder's and property's legitimacy through RERA registration.
- Review the builder's reputation and past projects.
- Look into the area's connectivity and accessibility to other city parts.
PropertyWala's Final Review
The real estate market in Aurangabad is set for major growth, fueled by its strong industrial sector, enhanced infrastructure, and growing demand for both residential and commercial properties. With careful thought to location, builder credibility, and RERA compliance, investing in Aurangabad can bring significant returns, making it a smart option for buyers and tenants alike. If you’re looking for a residential home or commercial space, Aurangabad offers a promising investment environment.