Nagpur: Local builders have given thumbs up to the commercial real estate projects of MahaMetro. They, however, feel that the agency should create more office and hospital space instead of concentrating on shops, malls and multiplexes.
Mahesh Sadhwani, vice-president of Credai Maharashtra, said Nagpur was seeing demand of commercial space from large companies. “Several players have made enquiries regarding commercial space from us. So, Metro’s projects are bound to get customers. In five years, Nagpur will become a big destination because of its central location. Amazon is planning to start a warehouse here. Moreover, more and more people are shifting to Metro region from Vidarbha. They will come to the city for work, education and shopping,” he added.
According to Sadhwani, doctors, lawyers, chartered accountants and other professionals would shift their offices to Metro stations because of easy accessibility. “The projects may get a sluggish response initially but they will succeed in the long run.”
On competition with local builders, he said, “They (local builders) do not go in for big projects. We have only three malls in the city and another one is coming up near Medical Square.”
Builder Ashok Chandak also sounded positive on Metro projects. “Government offices will shift there because of easy accessibility and availability of parking space. Nagpur Municipal Corporation (NMC) is not giving permission to hospitals in Dhantoli. New ones will start their establishments in projects by Metro. London Street is a non-starter so Metro stands to gain,” he said.
Credai Nagpur secretary Gaurav Agrawala said that local builders were averse to taking risk at present. “There are only a few big commercial complexes in the city. If Metro constructs big ones, they will get response from big players. Their residential projects are outside the city and so we will not face competition,” he added.
Builder TS Renu said that Metro should concentrate on office space as people in Nagpur did not buy from shops in commercial complexes and malls. “There is good scope for hospitals and offices as Metro projects will be well connected. Local builders will face competition but it will help consumers as rates will come down,” he said.
Prashant Sarode, Credai Nagpur immediate past-president, however, sounded a bit cautious. “It will depend on employment generation in the city. If new jobs are created and people from outside shift here then Metro projects will definitely succeed. Local builders can be part of them by forming consortium so we need not fear competition,” he said.
