Spread along the length of 190 km, Nashik is an ancient holy city of Maharashtra located on the banks of holy river Godavari. The city is also a part of Golden Triangle project along with Pune and Mumbai. Nashik has witnessed a steady cultural and social shift due to economic and professional decisions and is major face of export centre for agro based products. Nashik is also seen as a potential auto hub. Establishment of Special Economic Zones (SEZ) has altered job scenarios bringing a large number of people to the city.
Nasik is an emerging industrial hub of India with good infrastructure facilities and great road and rail connectivity. These facilities have triggered real estate in Nashik, and the trends are expected to match or surpass that of Pune. Residential property in Nashik has always witnessed good returns on investment and market for commercial property is growing with rapid industrialization. Read More
Nashik’s real estate trends are investor friendly. Hence, it incites property investors from India and outside to invest in real estate Nashik. West of the city is crowded with residential as well as commercial developments and now southern part of the city is offering investment options. With Mumbai and Pune being in the proximity, property rates in the city are attractive when compared to the two. Nashik, like Pune is developing at a very fast pace and is performing quite well.
City has demands for plots, apartments, penthouses, villas and builder floor apartments as well as commercial developments.
Nashik has been dominated by the saturated markets of Mumbai and Pune. In Nashik, areas such as Satpur and Ambad are already developed with industrial as well as residential developments. In terms of social infrastructure and connectivity, Govind Nagar, Gangapur Road and Indra Nagar are localities that are witnessing some extensive real estate developments. Presence of a number of schools and colleges around these localities also enhance rental demands in the areas. Third point of Golden Triangle has the lowest cost of living with comparatively low real estate prices as well.
New developing suburbs of Nashik are the best places to invest. These include:
Main reason that Nashik property market is getting all the attention from developers and investors is that it is in the developing stage whereas Pune and Mumbai are on the verge of saturation. The city expects a bright future with growing urban agglomeration and improving connectivity.
It is said that the blend of peace and prosperity has boosted real estate in city. While the city is an ideal destination for investment, rental real estate is also on positive side. House-Tax policy enables a high income from rentals for property. Rental real estate is in its appreciating stage as Nashik real estate is still maturing.
Some of the localities for rental in Nashik include:
Nashik has a huge industrial and commercial base and with entry of a number of MNCs in the city, this base is expanding further. Hence, the city experiences a boom on commercial front with increasing demands for office spaces. Prime areas for commercial development are College Road, Old City, Gangapur Road and Nashik Road.
Economy of Nashik is dominated by agriculture, rain water harvesting, upcoming IT developments, establishments of SEZ’s and presence of big industries like Hindustan Aeronautics Limited, India Security Press and others. Textile industry also has a strong presence especially in the remote areas of Surgana block.
Other major industry of Nashik is Wine industry and the city is hence termed as the “Wine Capital of India” due to a number of Wineries located within the district.
Infrastructure of the city is the major reason that Nashik property market is witnessing a boom. When compared to Mumbai or Pune, infrastructure of the city is at par with them but prices are half attracting investors to the city. Nashik flaunts some of the longest flyovers in the state. Other than this, city has wider roads, improved transport facilities, improved transport, and good internal as well as external connectivity.