After the boom on Wardha, now its the turn of Hingna to shine bright as the land rates are heading North wards, especially after the announcement of Naya Nagpur project. In a year, the land rates have skyrocketed from upwards of Rs 50 lakh to over Rs 2 crore/acre. The axis of the Samruddhi Expressway with the Wardha Road means the land is in great demand, as realtors are rushing to buy the land in anticipation of a surge in demand. The International Business and Financial Centre (IBFC), in Mouza Gothangaon and Mouza Lagaon, has transformed the arid land into the most sought after. With Government yet to commence land acquisition, people seeking to hit the jackpot started scouting for landmass and offered a rate of Rs 1.75 crore/acre.

 

However, farmers, knowing well how prices escalate, are holding firm and are not ready to throw in the towel. Earlier the villages closer to Samruddhi E-way saw a major concentration of property developers. But with a new project on the anvil by State in Hingna, the land rates are zooming upwards, and the rally is likely to intensify further. Farmers in the region said that the spillover effect from two villages identified for Naya Nagpur is going to ensure better returns for the farmlands in the nearby areas. Meanwhile, property boom is likely to further skyrocket on the outskirts by both the projects. Major investment is anticipated to spur the growth in new business avenues as technology is going to play a dominant role in future. The decision of State to zero on Hingna tehsil was quite natural as the Samruddhi E-way takeoff starts from here. Therefore, the upcoming International Finance and Business Centre location in Hingna was just naturally corollary.

 

 

Meanwhile, during the public hearing held by Nagpur Metropolitian Region Development Authority (NMRDA), the villagers sought 12.5 per cent developed land in lieu of giving up their claims. They are citing the formula devised by Maharashtra Government and one offered to landowners during acquisition for MIHAN and Cargo Hub project in and around Sonegaon Airport. NMRDA meanwhile is seeking to hire consultant to expedite the land acquisition process for twin projects in the district. The first project is Central Business District and other one is second outer Ring Road. For both the project NMRDA would need substantial land.