Amravati city has evolved from being industrial hub to attractive residential place located towards the north-eastern side of Mumbai city. Factors such as multiple industries, smart city plan, educational place & improved tourism has led to development of several places in periphery of Amravati.
Amravati’s property is set to undergo big remodelling. State government has announced that Amravati city will be developed as smart city. This has grabbed attention of several big property developers & investors. High literacy rate that is near to 93%, expansion of the industrial hubs & presence of 20 big educational centres encompassing engineering & medical colleges is creating residential demand in the city.
Regarding future growth plan of Amravati city, a Proprietor highlighted, in case the smart city plan is completed, it will uplift real estate market. Regions to witness big development under plan are Nandgaon Peth which will include greenfield project & 500 acres of land for the residential & industrial development. Badnera also will see development across the 500 acres of land including existing railway line & proposed airport. At last, Old Amravati also will see retrofitting. For execution of smart city plan, government needs to address some roadblocks coming in way of real estate growth of Amravati city.
Challenges for the Amravati Municipal Corporation for the Smart City Development
Amravati city ensures hassle-free connectivity to the nearby cities such as Pune, Nagpur, Indore, Raipur, Mumbai, Jabalpur, Aloka & Prabhani by road. NH-6 is main stretch from the Amravati to Jalagaon which connects states suchg as Gujarat & Maharashtra to the eastern states such as Orissa & Chhattisgarh.
City too boasts of good rail network. Amravati Railway station is oldest station lying on Badnera branch line in Nagpur Bhusawal section along with Howrah-Nagpur-Mumbai line under Central railways. Plus, Badnera Railway Station & New Amravati Railway Station is 02 other railway stations situated within periphery. City too has airport that is situated 15 km away at Belora & is run by the Maharashtra Airport Development Company (MADC) & another one in pipeline at Badnera.
Big localities which have observed increase in the residential demand are Badnera Road & periphery, Arjun Nagar, Shegaon & Jawahar Nagar. City is expanding towards the Badnera that is 10 km towards southern part of Amravati city. At Shegaon, properties are catching attention of the end users that belong to business section. Their preference is to make their house and in this way, demand is higher for the residential plots, leading to 30% raise in capital values in the year 2015 compared to previous year. Prices vary between Rupees 1500 per square feet & rupees 4000 per square feet.
Demand for the rental properties in Amravati city is less in regions around the Badnera road & Nandgaon peth. In regions such as Jawahar Nagar & Arjun Nagar, one can locate 1BHK & 2BHK properties. 1BHK costs between Rs 5,000 & Rs 6,000/month while 2 BHK is between Rs 8,000 & Rs 12,000/month.
Presence of big industrial hub & proposed smart city plan are the 02 two significant causes for the realty growth. Furthermore, presence of the schools, colleges, universities, hospitals, underpasses, flyovers & rising capital values in the aforementioned areas has not pulled attention only of end users but also is presenting favorable market for the investment.
At the end of 18th century, Amravati city saw period of growth in the business. Presently, city is witnessing lot of movement in real estate sector because of improvements in infrastructure facilities in city.
Amravati is connected to most of big surrounding cities such as Pune, Nagpur, Raipur, Bhopal, Mumbai, Indore, Akola, Jabalpur, Aurangabad, Nanded, & Parbhani by road. Maharashtra State Road Transport Corporation runs the buses from Amravati city to other big cities within & outside Maharashtra. National Highway NH-6 passes via city, connecting it to Surat & Kolkata
Intra-city transport is majorly attained via city buses & Auto-rickshaws. Amravati City Municipal Corporation runs city buses, connecting all places within city. Auto-rickshaws & cycle-rickshaws too cater to needs of people.
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