Nashik, an Emerging Property Destination

Nashik often referred to as the ‘Wine Capital of India' is a city in Maharashtra nearly 180 km away from Mumbai, the state capital. Well known for picturesque surroundings, pleasant climate and flourishing valleys, it is the 3rd most important city of the state after Mumbai and Pune. This is why real estate in Nashik is witnessing large scale developments today post saturation of property markets in both the cities of Mumbai and Pune.

Nasik is a major tourist destination chiefly for pilgrims since Kumbmela is held in this holy city once in 12 years. Tourists from all over the country who visit Shirdi or Trimbakeshwar also throng the city to be a witness of the beautiful sights in the region. Some of the worth watching places in Nasik are Gangapur Dam, Dushsagar Fall, Stone Age site, Museum of Numismatics, Anjaneri Parvat, Pandavleni Caves, Bird Sanctuary "Nandur-Madhyameshwar" and others. This means it does have a slightly developed tourism sector that attracts travelers from around the nation, making it significant to develop commercial property in Nasik. The hospitality sector in the region and its peripheral areas is undergoing a few changes to attract more tourists.

Nasik is today counted among fastest growing tier-II cities of India owing to the rapid growth in its economy. From engineering & manufacturing units for automobile & pharmaceutical companies to thermal power plant & printing press to agriculture & sugar mills, the city houses them all. It is also known as ‘India's Napa Valley' for its globally acclaimed wine market even as efforts are made to promote export oriented Rose farming. Apparently, the city has a huge commercial and industrial market that is expanding further with entry of more companies. This calls for investments in commercial real estate of Nashik catching attention of various realty builders and investors. It has gargantuan potential, hitherto untapped, for swift transition from a pilgrimage town to a tier-II city.

Home to aircraft & other major automobile industries, IT Parks, government run industries, data centers and malls & multiplexes; Nasik is progressing in full swing. Besides industrial advancements, Nasik is also considered as the Educational hub of North Maharashtra. It has numerous private & government universities for higher education in diverse fields as well as primary & secondary schools. It also boasts of excellent infrastructure with well connected roads, railways & airways and bus & taxi services. Clearly, the city has all the makings of a major city where even as commercial setups are already flourishing, the residential realty needs are to be still addressed. This is why, residential property in Nasik is witnessing launch of many projects for the construction of multi storied apartments in a cluster of buildings equipped with modern amenities like swimming pool, health club, etc. The property builders are actively coming forward to create an upmarket lifestyle by structuring classy homes altering the skyline of the city.

The housing projects in Nashik are undertaken by some of the leading realty groups like Parsvnath Developers along with others like Sanklecha Constructions, Nirman Group, Pune based DSK Group, Bindu Developers, etc. The capital values of property in Nashik are also spiraling up owing to the humungous growth taking place in the city. Still in its nascent stages, Nasik real estate offers varied options for investment at present but the scope may reduce as the market gets swifter. It is increasing for this very reason that leading businesses and industries are opting for this city for setting up their units. The lower property costs and easy availability of land & manpower are instrumental in the upsurge in Nashik realty sector.