Why is Nashik a perfect investment destination? (part-1)

Investing in real estate has long been a very profitable option for all the investors who have desired to reap greater return on investments.

However, when it comes to the Wine Capital of India, Nashik, the city has recently emerged as an industrial hub and has also turned into a preferable destination for investments due to its growing infrastructure and standards of living.

This month we will be speaking about some of the crucial pointers related to the investments in real estate that make the city of Nashik, one of the best investment destinations.

You might well ask, as to why has the city of Nashik become one of the best investment destinations in the state of Maharashtra? Here are the main reasons to answer this question:-

• Geo-strategic location:- One of the major things that works in Nashik’s favour is its overall geography. The city is third largest (both, area and population wise), located in Northern Maharashtra. Mumbai, India’s financial capital, is at a distance of 180 kms from Nashik by road.     Pune,which is another major educational and IT hub of the country, is at a distance of about 200 kms by road from Nashik. The train journey for the same (via Kalyan/Panvel) stretches to around 5 hours. This geographical location has enabled Nashik to become the third most important city in Maharashtra, after Mumbai and Pune. Being an integral part of the golden triangle, Nashik stands apart from the rest of the cities of Maharashtra when it comes to investment in the real estate industry. 

• Industrial Development:- Nashik is an industrially developed city in the state of Maharashtra. The city has been ranked as the third largest developing city after Mumbai and Pune. Nashik is a dream city for working professionals, students, real estate buyers and investors due to the upcoming of universities, residential properties and improved infrastructure.

• Developmental Landmarks:-There are five industrial spots near Nashik, namely Ambad, Dindori, Sinnar, Gonde and Satpur. Also, development of the IT/ITES sector and commercial malls has facilitated the real estate development of the city.

• Property rates and attractive investment locations in Nashik:-With the exception of a few prime areas, residential rates are in the range of Rs 3000-4500 per sq ft. With the western side of the city already well-developed, one of the fastest-developing areas is the southern side, Pathardi, which already has fast-selling projects.

• Scope of development in Real Estate:-Union Budget 2016 has been recently declared on 29th February and this would have a positive  impact on Nashik’s real estate sector. There is an exemption of Rs.50,000 for the first time property buyers, who would prefer to buy a property within Rs. 50 lakhs and opt for a loan of Rs. 35 Lakhs.

Although these reasons are sufficient to woo any investor’s mind and convincing enough to proceed with investing in real estate in Nashik, there are  a few more reasons that you must know before investing in a property here! Stay tuned for more on these!