Sunday, February 8, 2009

Jamshedpur: Steeling up for global realty

Quality of life:

According to a survey conducted by ACNielsen ORG-MARG, Jamshedpur has been rated just after Chandigarh in terms of quality of life and is in the same league as cities such as Bhubaneshwar, Pune and Bangalore.

Jamshedpur real estate:

According to estimates, about 165 real estate developers already have at least one project in hand in Jamshedpur.

However, most builders are going slow on new projects and not taking risks due to the slowdown in the real estate sector.

Prime locations in Jamshedpur:

Buyers are also somewhat hesitant in investing in new properties. However, in the posh areas such as Circuit House (CH), Bistupur and Sakchi there has been no change as far as growth is concerned, though there has been a downward trend in areas such as Kadma, Sonari, Mango and Adityapur, the city just across the Kharkai river, which flows along Jamshedpur.

Jharkhand real estate:

Jamshedpur is one of the three most important cities of Jharkhand, along with Ranchi and Dhanbad, which are seeing tremendous boom as far as the real estate sector is concerned, though there has been a small dip due to the global economic slowdown in the last few months.

Property rates in Jamshedpur:

In the city, the Circuit House area is the costliest with flats available for Rs 4,000-4,500 per sq ft while the rates are between Rs 3,000-3,500 per sq ft in area like Bistupur, the main shopping centre of Jamshedpur.
To read more, please, visit - Navtan Kumar-The Economic Times

What is your take on the real investment opportunities in your home state or city?

I am born and brought up in Pune. So i can't think of investing in any other city but Pune. Mumbai is the maximum limit for me. Otherwise, i can't think of investing in any other city in Maharashtra!

However, some of you may have a better option than investing in Pune real estate market. When i read this article about Jamshedpur real estate, i wonder, is it really an option?

Please, share your views in the comments (Comments Policy) about investment opportunities in your home state or cities.

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1 comment:

  1. I hail from nagpur. Nagpur was a hot investment destination for some time. Land rates in wardha road area ranged from 150-700 in expected-to-be-developed-soon areas. My opinion was that the surge in real estate demand was more on a future expectation. based on upcoming MIHAN project and expected economic revolution. I believe this demand is virtual demand and not real demand, as economic revolution is yet to begin in the city. So in the recession rates should fall like house of cards.

    But surprisingly, the rates are not yet going down, though the number of new projects is almost NIL. One of the biggest developers, pushkar, is a close friend of mine. I am surprised to see his expansion plans.

    The demand inside the city is almost constant.

    By the way TiE ( is opening a chapter in Nagpur, which pune still has none, thanks to great efforts by industrialists there.