Nagpur real estate starts regaining momentum post second Covid wave

13 Oct 2021 CW Team

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

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

According to the data of the NMC's town planning department, in April-August, 307 building plans were sanctioned. It dropped to 164 in 2020, almost 50% due to the Covid-19 pandemic.

According to an official, the building plan sanctions for September 2021 are under compilation NMC expects it to be higher than FY21 and 2019. In 2019-2020, NMC's target of Rs 106 crore declined to Rs 56 crore. In six months of FY22, the revenue is Rs 118 crore against the target of Rs 102 crore.

Virendra Kukreja, builder and corporate of real estate, told the media that the realty sector was severely affected due to the pandemic and lockdowns in the last fiscal year. However, now the situation is better post-pandemic.

The real estate sectors are now in normalcy for the last few months. Builders and individuals who kept their projects on hold for one year are seeking sanctions.

The state government introduced UDCPR in December 2020, which provided benefits to builders and individuals. However, the building plans did not increase in January-March but increased in April. The registrations are increasing though NMC doubled the developmental charges and premiums.

Municipal commissioner Radhakrishnan B and architect Pankaj Kriplani said that UDCPR is helping to boost the real estate sector. It is also beneficial for builders constructing multi-family residential units. Even for smaller plots, UDCPR is more favourable compared to transit-oriented development (TOD).

The chief officer of the civic body said that there are other new initiatives, including a building plan management system (BPMS), in the pipeline to boost the real estate sector.

Image Source

Also read: Sobha Limited records 49% growth in sales bookings at Rs 1,000 cr

The Nagpur real estate sector is regaining momentum after being hit by the second wave of the Covid-19 pandemic. The unified development control and promotion regulations (UDCPR) also helped. In April-August in FY22, the Nagpur Municipal Corporation (NMC) sanctioned 374 building plans, 2.3 times greater than the registered numbers in FY21. The registrations in FY22 are also slightly higher than in 2019. According to the data of the NMC's town planning department, in April-August, 307 building plans were sanctioned. It dropped to 164 in 2020, almost 50% due to the Covid-19 pandemic. According to an official, the building plan sanctions for September 2021 are under compilation NMC expects it to be higher than FY21 and 2019. In 2019-2020, NMC's target of Rs 106 crore declined to Rs 56 crore. In six months of FY22, the revenue is Rs 118 crore against the target of Rs 102 crore. Virendra Kukreja, builder and corporate of real estate, told the media that the realty sector was severely affected due to the pandemic and lockdowns in the last fiscal year. However, now the situation is better post-pandemic. The real estate sectors are now in normalcy for the last few months. Builders and individuals who kept their projects on hold for one year are seeking sanctions. The state government introduced UDCPR in December 2020, which provided benefits to builders and individuals. However, the building plans did not increase in January-March but increased in April. The registrations are increasing though NMC doubled the developmental charges and premiums. Municipal commissioner Radhakrishnan B and architect Pankaj Kriplani said that UDCPR is helping to boost the real estate sector. It is also beneficial for builders constructing multi-family residential units. Even for smaller plots, UDCPR is more favourable compared to transit-oriented development (TOD). The chief officer of the civic body said that there are other new initiatives, including a building plan management system (BPMS), in the pipeline to boost the real estate sector. Image SourceAlso read: Sobha Limited records 49% growth in sales bookings at Rs 1,000 cr

Infrastructure Urban

04 Nov 2025

DPIIT Joint Secretary Inaugurates Isler’s Appliance Unit in Greater Noida

Isler, a fast-growing appliance manufacturing start-up supported by Hafele India, inaugurated its state-of-the-art production facility in Greater Noida. The facility was inaugurated by Sanjiv Singh, Joint Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Government of India. Spread across 30,000 sq ft, Isler’s first plant is equipped with advanced assembly lines and automated systems for manufacturing built-in kitchen and home appliances such as hoods and hobs, with future plans to produce microwaves, ovens, and dishwashers. Designed with a focus on sustainability ..

Infrastructure Urban

04 Nov 2025

AAI Urges Government to Ensure Aluminium Self-Reliance

The Aluminium Association of India (AAI) has called for urgent policy action from the Ministry of Mines to strengthen India’s aluminium manufacturing base and secure self-reliance under the Aluminium Vision 2047.In a detailed submission, AAI urged the Government to impose a uniform 15 per cent Basic Customs Duty (BCD) on all aluminium products and introduce strict quality controls on non-standard scrap imports. The association warned that without immediate intervention, India risks facing a supply crisis similar to that of critical minerals.AAI highlighted a 50 per cent surge in aluminium im..

Infrastructure Urban

04 Nov 2025

Punjab Records 21.5 % Rise in Net GST Collections till October

Punjab has recorded a 21.51 per cent increase in net Goods and Services Tax (GST) collection for the period from April to October 2025, with a robust 14.46 per cent rise in October alone, according to Harpal Singh Cheema, Minister for Finance, Planning, Excise and Taxation.The state collected Rs 156835.9 million in net GST during April–October 2025, compared to Rs 129073.1 million during the same period in the previous financial year—an impressive increase of Rs 27.76 million. The growth rate up to October 2024 had stood at a modest 3.8 per cent.For October 2025, Punjab’s net GST collect..