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Is there a Correction in Reality prices in Nashik ?

Posted by admin on Saturday, August 16th 2008

16
Aug

Hi, everyone, one questions which has crossed my mind for some days now. I have been informally speaking to people who have been active in this market and everyone has been more than positive and upbeat , maybe not as much as they have been few months back but they are still positive for an upside.

My basic questions which I have in mind

Why such high prices for land in Nashik?
Is it just a demand – supply gap or on actual business necessity?
The prices of constructed property are for sure a demand supply gap. (Prices of some projects are comparative to prices Pune / Kalyan etc)

What are your thoughts, I would appreciate if users would post their comments on this !!

Tags: Uncategorized

3 Comments Already

Prashant Said,

August 17th, 2008 @8:08 am

Hike in the land prices in Nashik are going to put big hurdle in development of Nashik. Almost 30 to 40 % of total city area is still vacant. Pune is now developing at treamendous speed beause before development, Pune has low land prices and land prices has direct co-relation with demand & supply. I don’t observe substantial demand in Nashik which result into shortage of land. Not even any big housing projects likes in Pune is underway in Nashik. I think Nashik can not be compare with Pune in any way as Nashik has aready lost the race with Pune in 1996 when Nashik – Mumbai expressway project was called off. Pune has grown up after completion of Pune Mumbai Expressway. Nashik badly need seperate Mumbai Nashik expressway as underconstruction 4 lanned National Highway will be insuffient to cater future traffic density. So I think cancellation of Mumbai Nashik Expressway during 1996 was the main reason which result into severe losses to Nashik which cannot be recovered and ultimately prestigeous projects went either to Pune & Nagpur despite of having substantial potential in Nashik.

Vikas Said,

August 19th, 2008 @7:58 pm

1) Why such high prices for Land in Nasik?
Where else can the investors put their money? Nasik has everything for a nice living..only lacking is IT and BPO firms. Pune is already very pricy. In Nasik, you can travel anywhere within half hour, can you buy an apt in Pune for Rs 1500/sq ft or a plot @ 10000/sq yd but you can in Nasik.
a) What has changed in Nasik over last few years?
Building of some nice residential complexes, infrastructure like walking trails, College Rd becoming more of happening place. Many Developers have bought big land chunks for future Townships and small IT parks. Building of Vascon IT Park, Expanding of Mumbai Nasik Highway. Expansion of existing Businesses
b) What more to come:
BPO and IT companies..though will have a slow start but it will happen though might not at a large scale. I think Flights by Kingfisher have already started. More people migrating. Many industries will also come when Delhi-Mumbai Industrial Corridor develops. Many big malls also. large, planned townships.

Yes some areas are expensive but there’s still plentry of cheap land available.
There isn’t like any other city within 4 hour drive to Mumbai which will reduce to 3 once expansion of highway is complete.