Demand Assessment : Kolhapur
Kolhapur: Indian metro cities are being experienced real estate boom by economic and investment policies. But it is also facing congestion, arising out of an increasing demand for residential and commercial properties. This congestion and high prices are forcing to developers to looking out for alternate option – smaller cities for property development. And Kolhapur is now one of the favored destinations for developers. One of the basic reasons for developers are taking interest in Kolhapur is availability and affordable prices of land and economic-social background of the city’s people. Kolhapur is prosperous, unpolluted town, endowed with fertile soil and a pleasant climate. The city has the second highest number of industries in Maharashtra, accounting for 14.3% of total. The state government is willing to create a prominent IT destination, which encourage to real estate developers to invest in the city. The projects by the MIDC toward the establishment of IT, Textile and SilverParks in Kolhapur involve a total investment of Rs 5,000 crore. Synthesis, M &S Royal, Waterfront, Vertex, M.J.Market, Renupooja, Lakeside and Inspirion are the new IT parks which would host the software companies moving into Kolhapur.
The Meero Hi-Tech Cooperative Textile Park has almost been completed at a cost of Rs 335 crore. Raymonds, Vardhman, Kirloskar and Menon Alcop have already invested heavily in their new projects in Kolhapur.
The real estate trends in Kolhapur show an inclination towards the integration of residential and commercial spaces.
The city residential projects have a wide variety such as bungalows, flats, twin bunlow and terrace flats. Some of the residential-cum commercial projects include: the Parshwa Complex, Shri Tuljabhawani Sankul, ShivneriPlaza, Pinnac Vedanta, Pinnac Omkarswarup, Pinnac Shivalaya, Royal Heritage and Pinnac Vyakretesha.
Being a multi-dimensional industrial town, Kolhapur has good prospects for investment. With a comfortable lifestyle to match, building an asset in Kolhapur would prove monetarily rewarding in the next few years.
Real estate developer Mantri Realty is to set up the first IT Park in Kolhapur at a cost of Rs 20 crore. In addition the firm plans to invest a further Rs 80 crore to set up a 3-5 lakh sq ft mall and a 100-acre residential complex in Kolhapur.
|USP||Hot Residential Place||Hot Commercial Space||Infrastructure||Future|
|Availability and affordable prices of land and economic-social background of the city’s people.||TarabaiPark, Sambhaji Nagar, Mangalwar Peth, Shivaji Peth, Rukar Colony and Station Road are currently hot spot for residential property||Vadgaon, Jaisingpur, Kurundwad and Malkapur are the important commercial centres, Kolhapur, Ichalkaranji and Hupari are important both as industrial and commercial centres.||Kolhapur has an adequate infrastructure in the sense of road and other facilities.||The city is full of wealthy people and referred to live in own bungalow. Developers are also adopting new trend in the city’s real estate.|
|Prosperous, unpolluted town, endowed with fertile soil and a pleasant climate.||The city is not well connected by rail and air.||Upcoming IT industry will add more fuel in the real estate of the city|
|Kolhapur has the second highest number of industries.||All basic facilities are available in the city|
Glance at Pune
|Population: 419,000 (2001)Climate: 12°C to 35°C
River: Dudhganga and Panchganga
Area: 17,39619 acres ( Kolhapur dis)
Languages: Marathi, HIndi and English