Nagpur real estate starts regaining momentum post second Covid wave

The real estate sector in Nagpur is picking up again after being hit by the second wave of the Covid-19 pandemic. The unified development control and promotion (UDCPR) regulations also helped.

In April-August in FY22, the Nagpur Municipal Corporation (NMC) approved 374 building plans, 2.3 times more than the numbers registered in FY21. Enrollments in FY22 are also slightly higher than in 2019.

According to data from the urban planning department of the NMC, 307 construction plans were sanctioned in April-August. It fell to 164 in 2020, nearly 50% due to the Covid-19 pandemic.

According to an official, construction plan sanctions for September 2021 are in preparation. NMC expects these to be higher than FY21 and 2019.

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