Once forbidden Maoist zone, Gadchiroli now realty hotbed Nagpur: Once a Maoist hotbed where few dared to tread, Gadchiroli is now witnessing a surge in real estate activity. The district recorded real estate transactions exceeding Rs600 crore in the last fiscal year, with over Rs30 crore collected as stamp duty. Land rates in the interiors have climbed to Rs10-15 lakh per acre, driven by the steel industry’s growing interest. The state government’s land acquisition efforts for industrial projects, including JSW Steel’s proposed facility, have further fueled demand, spurring development even in remote areas. The steel sector’s expansion has transformed Gadchiroli into a preferred destination for investors. Companies like JSW Steel and Lloyds Metals and Energy Limited (LMEL) are acquiring land, while smaller firms are also entering the market. The demand is fueled by the promise of future development, with investors carving out smaller plots from farmland and selling them on a per-square-foot basis—a practice previously unseen in the region. Stamp duty rates, at 5% for rural areas and 6% for urban zones, have contributed to the transaction value, with the Rs600 crore figure representing a 5% duty rate. The government’s aggressive land acquisition strategy has intensified the real estate boom. Over the past decade, the state offered land parcels at a nominal Re 1 for industrial use in Gadchiroli town, but many buyers failed to develop the sites. Now, with projects like JSW Steel’s world-largest facility underway, the district is experiencing a new wave of investment. The Maharashtra Industrial Development Corporation (MIDC) has acquired over 3,500 hectares across 12 villages for industrial purposes, sparking both economic growth and local resistance.#jsw_steel #gadchiroli #lloyds_metals_and_energy_limited #maharashtra_industrial_development_corporation #mahendra_bramhanwade
