Can Aurangabad Industrial City Revive Residential Market?
This may be the start of a turnaround for Aurangabad realty with the city all set to become an employment-creation centre. The Aurangabad Industrial City (AURIC) is expected to to create over 1.5 lakh jobs in the city, officials say. AURIC, a smart industrial city right outside the city, will be developed in an area of 10,000 acre as a part of the Delhi–Mumbai Industrial Corridor (DMIC) and will attract an investment of Rs 70,000 crore in the coming decade. This development in the periphery of Aurangabad is expected to boost residential real estate opportunities in the city. Investors, looking for future returns or for rental returns, could both invest in one of the affordable markets of Maharashtra.