NASHIK

Lying in-between Mumbai and Navi Mumbai, Nashik is a decent city with a clean environment. As it falls between the industrial hotspots, its skilled workforce has attracted IT industry and multiple MNC’s. Nashik’s IT industry has surpassed the fivefold increase with the help of the now developed MNC’s like Tricom, WNS and 20 other companies. This entire process has created job opportunities for more than 3000 people of Nashik along with migrants settled in Nashik. The development of the city is not yet over as new opportunities of employment is increasing day by day. This increase in job opportunity has created a surge in the real estate market for residential properties. The government authorities after probing the transport and connectivity facilities of the city have taken special initiative to enhance the civic infrastructure and transport. Records prove that around 11000 crores were invested in the betterment of Nashik’s infrastructure since 2005. A boom in the real estate market was witnessed after the makeover plans of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM). The setup of the V-Tech IT Park in Sainath Nagar in January 2007 by Sanklecha Constructions fueled the demand for properties for residential purpose. The market witnessed a rise in its revenue whereas residential property developers launched new projects of housing complexes and apartments. The SEZ or Special Economic Zone is a project promoted by the Maharashtra Industrial Corporation on an area of 1010 hectares in Sinnar. An investment of 1555 crores has been made on this new project. This city is equipped with all the advantages which a property developer requires. Even though properties have not witnessed a price hike in the past 15 years but shortly prices can change. A study on the real estate market of Nashik reveals that the city is progressing towards a higher growth.