Nashik, the third largest industrial hub in Maharashtra is also an emerging real estate destination. With a number of new industries making it as their base, real estate market is getting all the benefit.
Situated on the banks of river Godavri, around 160 km away from Mumbai, Nashik was long considered a preferred destination of retired people, However, it has been considerably successful in replacing that image with a more cosmopolitan look with the help of improved transportation facilities and better infrastructure. A part of the “Golden Triangle”, with Mumbai and Pune, Nashik is attracting a lot of new investments from big industries. Nashik’s central location on the Indian map, good connectivity and availability of cheap labour has encouraged significant number of industries to setup shop in the city. Large companies like India Bulls, Crompton Greaves and Mahindra and Mahindra have invested in the city. Total industrial investment in the city has been to the tune of Rs 4000 crores in the last fiscal year. With so much industrialization going on, how can real estate remain left behind?
Real estate trends in Nashik
Nashik property market is all sizzling owing to the wave of industrialization sweeping over the city and it’s all round development. Localities that that were once considered unfit for residential purposes are now selling like a piece of hot cake. Catching up on the upbeat mood of the investors and buyers, real estate developers are coming up with various exclusive residential projects in different parts of the city. The Gangapur Road that runs parallel to the College Road is one of those locations that have undergone a metamorphosis. From being the least preferred destination for housing it has gone on to become a premium residential location of the city, just over the course of few years. A number of malls, colleges and international schools have mushroomed in the area. The major reason can be attributed to the presence of big finance offices, corporate and industries in its vicinity.
Another growth area of Nashik is Govind Nagar, which is being preferred owing to the peaceful serene environment it offers. Away from the hustle bustle of the city and yet with quick accessibility to the city area, Govind Nagar is a lucrative option on the Mumbai-Agra Highway for buying an abode. Indiranagar is an upcoming area registering demand in property due to the IT Park in direct vicinity. Improved connectivity through wide roads and increased frequency of public transport within the important centres of city has resolved the problem of conveyance to a great extent.
Other places that are catching the attention of buyers include Pathardi Phata which recently saw the launch of Ekta Greenville project and followed by a spate of construction activity. This place is a perfect choice for people who have to commute between Mumbai and Nashik due to its highway location. Government has earmarked Sinnar for building a Special Economic Zone on 2500 acres. Needless to say, Sinnar is going to explode on the real estate scene with huge surge in demand for residential as well as commercial real estate.
Tips for investing in Nashik’s realty market
Although Nashik is witnessing what could be safely termed as its peak time in Realty sector due to tremendous demand from buyers, there are ample of opportunities for investors who want to get a good return on their money. Some key points that need to be kept in mind before making a decision of investing in property market.
• Don’t risk your entire investments in real estate. Diversify the s
avings in different sectors.
• Those who wish to enter the rental market, buy a home that has all the amenities and is located at a prime region of Nasik.
• Keep tax implications in mind. Every penny of the profit earned through property investment is accountable for tax.