Maharashtra, frequently referred to as the 'Power House of India', serves as the industrial hub of the country. Leading the nation's industrial development, Maharashtra has set a notable trend in the expansion of real estate in India. Economic growth has accelerated the development of both residential and commercial properties in cities such as Mumbai, Solapur, Pune, and Nagpur. The demand for real estate in Maharashtra is particularly high in Aurangabad and Nashik. The Maharashtra Industrial Development Corporation has already begun several industrial township projects in various areas of Nagpur, Pune, and Dhule.
According to a report by ECA International, Mumbai ranks seventh among the world's most expensive cities. This perpetual hike in property prices has increased the demand for real estate in Mumbai. The rise in residential property demand is one of the primary reasons for the escalating property costs. The growth of other business centers in India is another contributing factor to this increase. To address the needs of the low-income group, Matheran Realty Pvt Ltd (MRPL) has announced a mega township project in Karjat.
Pune is also experiencing continuous development in the real estate sector. The escalating land prices are a consequence of the high demand for land. The boom in the Pune real estate market is facilitated by the Indian government's decision to permit 100% Foreign Direct Investment in the real estate sector.
In Nagpur, Maharashtra, the value of real estate is increasing daily. Real estate property brokers assist their clients in evaluating the accurate price of properties and facilitate their sale at favorable rates. They also help in locating and purchasing suitable properties with straightforward agreement terms. All these elements have led to increased real estate investment.