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Overview of Nanded

Nanded, located in the Marathwada region of Maharashtra, stands out as the second largest city in this part of the state and is a major hub for different activities, including real estate investment.

Historical and Cultural Significance

Nanded is historically significant, especially among the Sikh community, as the place where Guru Granth Sahib, the holy scripture of Sikhism, spent its final days. The city is home to numerous historical sites such as the Nanded Fort, temples, gurudwaras, and churches, making it a notable tourist attraction.

Infrastructure and Connectivity

Nanded offers well-developed connectivity via roads, railways, and airways. This boosts its appeal for both residential and commercial investments. The city has a strong education system with an approximate literacy rate of 87%, backed by numerous educational institutes.

Residential Real Estate

Popular Localities

• Subedar Nagar: It's known for its peaceful environment and proximity to market areas, with relatively affordable property prices compared to other Maharashtra cities.
• Shivray Nagar: Offers excellent infrastructural facilities, including schools, government hospitals, parks, and basic amenities like round-the-clock electricity and clean water.
• Dakshata Nagar, Malegaon Road, Vazirabad, Waghala, Hyder Bagh: These areas are also great for living due to their connectivity and amenities.

Property Prices

In areas like Nanded:

• Flat prices vary from Rs 6,250 to Rs 9,000 per square foot.
• Land rates go from Rs 3,500 to Rs 7,250 per square foot. In Nanded-Waghala:
• Prices start at Rs 500 per square foot, with an average around Rs 4,465 per square foot.
• The costliest properties can reach up to Rs 5,500 per square foot.

Investment Potential

The demand for residential properties in Nanded is high because of its strong infrastructure, education system, and agricultural market. Price appreciation trends show a 1.9% change in the last year, 14.5% in the past three years, and 21.5% in the last five years for flats in similar regions.

Commercial Real Estate

Investment Opportunities

Nanded is growing as a commercial real estate hub due to tourism, industrial activities, and export businesses. The Regional Cotton Research Centre and exports of crops like bananas, sugarcane, mangoes, and soya beans boost demand for commercial spaces.

Key Factors

• Tourism and Industrial Hub: Thanks to its historical and cultural importance, plus industrial activities, Nanded is appealing for commercial investments.
• Connectivity: The city's robust road, rail, and air connectivity improves its commercial viability.

Steps for Investment

• Market Research: Conduct detailed market research to find sites with high development potential.
• RERA Verification: Verify properties through the Real Estate Regulatory Authority (RERA) to ensure honest and transparent transactions.
• Documentation and Payment: Prepare necessary documents like title deeds, sale agreements, and complete the payment process, including stamp duty and registration charges.

PropertyWala's Conclusion

Nanded offers a vibrant landscape for both residential and commercial real estate investments. With strong infrastructure, a high literacy rate, and significant cultural and historical value, it attracts diverse investors. Thorough market research, property verification through RERA, and legal formalities completion are essential before making a decision. Whether buying or renting, Nanded balances affordability, growth potential, and quality of life, appealing to many in the real estate market.