Aurangabad : Expanding fast

aurangabadBy Accommodation Times News Services

Aurangabad is more popular for its proximity to the world heritage sites, Ajanta and Ellora. The city is a tourist place, surrounded by many heritage monuments. Apart from the tourist destination, the city is also a major hub of automobile manufactures and liquor productions.
On the outskirts of the city, the Shendra, Chikalthana and Waluj industrial estates set up by the Maharashtra Industrial Development Corporation are home to major multinationals in the automobile and consumer durables industry.
Aurangabad was established around four centuries ago by Mughal King, Aurangzeb to govern Deccan.
The growth story of the city had been started in early 90’s when the Maharashtra Industrial Development Corporation began acquiring land and setting up industrial estates around it. Due to strategic location, sufficient man-power, ideal water quality, weather and mouth-watering subsidies, the city is home to some of the best known brands. There is Videocon, Garware, Skoda Auto, Wockhardt, Ajanta Pharma, Johnson & Johnson, Siemens, Kingfisher, UB Group, Foster, Lupin, Goodyear and Bajaj Auto, to name a few. And now, the city is entering IT arena.
According to a Nasscom-AT Kerney Research Report on the top 50 emerging IT and BPO destinations in the country, Aurangabad has found a place in the list. The Board of Approval of the Special Economic Zones (SEZs) has approved IT/ITES SEZ by Rajiv Gandhi IT Park Co-operative Society Ltd, Biotechnology SEZ by Glenmark Pharmaceuticals Ltd. in Shendra, Five SEZs have been approved and these are, in Automobile (Bajaj), in pharmaceuticals (Wockhardt), one in aluminum (where Hindalco has already commenced construction) and yet another is the Videocon SEZ.
Since from establishment, the city has accepted every progressive opportunity. Even though, the city is being neglected by the state government, it has made own appearance. The changing face of the city can be evaluated by improved infrastructure with wide roads, flyovers, new shopping malls and multiplexes, hospitality facilities and education centers. The city is witnessing the changes.
Still today, Aurangabad has not been taken seriously by real estate developers and investors compare to Nashik and Kolhapur, but the city has set to take a challenge. The city is also known for the fastest growing city in Asia.
Due to historical age, the city can divide into old, developing and industrial parts areas. The old part of the city such as Roshan Gate, Begum Pura, Rauza Baug, Kat Kat Gate, Kirad Pura, Baiji Pura, Buddi Lane, Cheli Pura and Gulmandi is full of dirt as any other historical city in India but on the contrary, Samarthnagar, Jyotinagar, Aurangpura , Nirala Bazaar, Satara Parisar, Bajaj Nagar and Waluj are ideal-modern parts of the city.
The City and Industrial Development Corporation of Maharashtra Ltd. (CIDCO) expertise was brought in to develop a New Aurangabad into a well-laid out town, with adequate provision for housing for low income groups, gardens, playgrounds, schools, colleges, community centres, cinema halls, stadium and a bird sanctuary. Some very successful city projects have been undertaken by CIDCO which are now managed by the Aurangabad Municipal Administration.
Aurangabad is the administrative head quarter of the Marathwada region. So the city is only bread earning destination for the regional people. The city is spreading its wings in all direction with a rocket speed. Now real estate players are set to furnish people’s need.
JugalKishor Tapadia, Tapadia Construction, Aurangabad’s leading real estate developers says, “The city has a bright future in real estate into the next 2-3 years especially in commercial segment.” Recently, the company has constructed Deogiri Valley, a 400 flat mini township. The company is planning to set up commercial property at Jalna Road. The form of the commercial property yet to be decided. The company has also to set up another 400 flat mini township in Valmi (Paithan Road).
“Low rated lands, cheap labor charges, easy and enough row material and water supply, and changing lifestyle of the people give us tremendous courage to develop any kind of property” added Mr. Tapadia. A. S Club, Satara Parisar, Paithan Road and Beed Bypass are the most preferred areas for residential property. Due to a good demand for residential property, rates have been grown up Rs 1500 to Rs 2000 per sq ft in these areas.
Houses on rent in Aurangabad are growing in demand, as the city is now a thriving hub of various industrial activities. Divided into four zones of industrial regions, the city is now home for a number of multinational companies. This has
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