Read More About Nashik & it's Real Estate Property Market
Nashik is a major city in the state of Maharashtra in western India.
It was said to the chosen abode of Lord Ram, during his fourteen years in exile.
It is located on the banks of the Godavari which originates in the south-west of the city at Trimbakeshwar.
It's also considered to be one of the holiest Hindu cities by virtue of being one of the only four cities in the world where the world-renowned Kumbh Mela is held.
The city is a site for more than 100 ancient temples including the famous Kalaram Temple and Trimbakeshwar Shiva Temple.
The Anjaneri mountain situated approx 7 kms from Trimbakeshwar, in the Nashik district, is said to be the birthplace of the monkey-god Lord Hanuman.
It's situated approx 171km from Mumbai and 210km from Pune.
The city is the administrative headquarters of Nashik district and Nashik division.
POPULAR TOURIST ATTRACTIONS:
Maha Kumbh: Nashik host one of the largest religious gatherings in the world known as Maha Kumbh. Kumbh Mela (festival) is celebrated once in twelve years. The next Kumbh Mela will be held from 15 August to 13 September in 2015.
Someshwar: Located enroute to Gangapur dam, it hosts a temple dedicated to Lord Shiva and Hanuman, on the banks of the Godavari. Tourists also flock here to enjoy the pleasure of swimming and boating in the river.
Deolali camp: An important military center, its located approx 16kms from Nashik. Founded by the British in 1861, this area is surrounded by gardens, playgrounds and a temple dedicated to Lord Khandoba atop a hill.
Bhagur: It is the birthplace of the famous freedom fighter Swatantrya Veer Savarkar, Bhagur is located about 3kms from Deolali Camp and also features a temple of Bhagur Devi.
Takli: It is the place of the Hindu Saint Samarth Ramdas. He was the Guru (teacher) of the famous Maratha warrior-king Chhatrapati Shivaji Raje. Ramdas was remained a bachelor all through his life, after running away from his marriage ceremony. He promoted the Hindu religion and also meditated here for twelve years.
Ramkund: This tank is a holy place for Hindus. Devotees believe that a dip in this tank will fulfill their wishes. According to Hindu mythology, Lord Rama bathed in this tank during his stay in Nashik.
It is the third largest city after Mumbai and Pune in the state with an estimated population of approx 19mn people.
It is the second largest city after Mumbai in terms of area.
Nashik district is the eleventh most populous district in India.
According to the 2011 Census, Nashik had a population of approx 1,480,769.
Together with Mumbai and Pune, the three cities are also known as the Golden Triangle of Maharashtra.
Nashik was ranked 16th in a global survey of the fastest developing cities, conducted by the global think tank on urban affairs, The City Mayors Foundation.
It has witnessed significant economic progress over the last decade.
The Delhi Mumbai Industrial Corridor (DMIC) project has earmarked the Sinnar and Igatpuri regions of Nashik district for the development of dedicated freight corridors.
The city is also known as the Wine Capital of India since it accounts for a large chunk of India's grape production and hosts many vineyards scattered across the region.
A major agriculture hub, Nashik is a major producer of staples like onions, tomatoes and other vegetables which are supplied from here to other parts of the country.
Nashik is also known for its picturesque surroundings, climate and tourism.
JOBS & EMPLOYMENT OPPORTUNITIES:
Nashik's main economic drivers are its proximity to Mumbai, the country's financial capital and its strategic location on the Mumbai-Agra national highway and the main line of the Central Railway.
Over the last decade, Nashik has made rapid progress as an emerging centre for industry, commerce, agriculture, education and administration.
Its economic development is founded on four main pillars namely, industrial economy, pilgrimage economy, defense development and a strong agro-base.
On the industrial front, it boasts of the three main industrial hubs at Satpur, Ambad, and Sinnar.
Leading corporates with a significant presence here include: ABB India, Mahindra and Mahindra, Gabriel, Glaxo SmithKline, LG Electronics, Samsonite, Garware, Siemens, Blow Plast, Thyssen Krupp, Ceat, Atlas Copco and TI Cycles among others.
Hindustan Aeronautics Ltd (HAL) has short-listed Nashik as the base for its INR 23, 000-crore manufacturing plant for Sukhoi jets for the Indian Air Force.
HAL is one of the largest employers in Nashik city, employing an estimated 7000 people at its aircraft manufacturing plant located about 16kms from the city.
The city also plays host to a major software technology park at Ambad and a private IT Park called Vascon.
Private banks and leading financial institutions like HSBC, ICICI and HDFC have a major presence here and have expanded their operations in recent times.
The state government is investing heavily into developing Nashik as a hub for the wine-making industry in the wake of the success of the famous Sula Vineyards which are located here.
Nashik is home to 36 world class wineries out of the estimated 74 wineries in the state.
TRANSPORT & CONNECTIVITY:
Nashik is on the intersection of two National Highways: the Mumbai–Agra Highway NH-3 and the Nashik–Pune Highway NH-50.
Other neighbouring cities like Aurangabad are connected via a 4-lane state highway. It is also well-connected by road to the neighbouring state of Gujarat.
Pune is connected through NH-50 which is to be upgraded into a four lane road soon.
The state-owned Maharashtra State Road Transport Corporation (MSRTC) runs cheaper transport service for intercity and interstate travel here.
Bus services are also available for big cities like Indore, Amravati, Pune, Aurangabad, Shirdi, Mumbai, Nanded, Nagpur, Akola, Jalgaon, Bhusawal, Latur, Buldhana, Washim, Sangli, Satara, Surat, Ahmedabad and Baroda to name a few.
The Gujarat State Road Transport Corporation (GSRTC) also runs its buses connecting Nashik and Shirdi to various cities in the state.
Nashik is also well-connected to cities in the south state of Karnataka like Bidar, Gulbarga, Belgaum, Hubli, and Bijapur via buses run by the Karnataka State Road Transport Corporation (KSRTC).
Nashik Road Railway Station is the major railway station in the city.
Deolali railway station is around 20 km from the city which serves the military cantonment area.
Nashik is directly connected to various major cities in India like Mumbai, New Delhi, Kolkata, Nagpur, Kanpur and Guwahati to name a few.
Nashik will also be getting rail connectivity to Pune through the Nashik-Pune rail line and to Indore by the Manmad-Indore rail line.
Nashik's Ozar airport is located at a distance of 20km from the city centre. It also has a secondary airport, Gandhinagar airport with a shorter runway which is unfit for large passenger aircraft.
The city is slated to get a proposed Metro rail called the Nashik Metro which will connect the city's many areas like Igatpuri, Ozar, Deolali to Nashik city.
Nashik has a well-developed infrastructure in terms of its flyovers, roads, railway network, electricity & water supply, hospitals, hotels, financial institutions and education.
It is one of the most promising areas of the proposed Delhi-Mumbai Industrial Corridor (DMIC) with an investment plan of INR 2, 500 crore over the next five years.
The arterial Nashik-Mumbai highway is now a four-lane one, while the Nashik-Pune highway is on the verge of completion.
Nashik is also a fast emerging regional IT hub with global players such as Accenture, Microsoft, WNS, and Datamatics having strong presence here and the development of dedicated infrastructure like the upcoming Anand Mahindra IT Park.
Its upcoming Indiabulls Nashik SEZ is the state's first multi-product SEZ for growth sectors like textiles, electronics/electrical, automobile and auto components, pharma, bio-tech and food processing sectors.
It's also the preferred location for a proposed Indo-China Industrial Park spanning over 2000 acres at Sinnar in collaboration with China.
Spread over 2500 acres, it provides world-class infrastructure support for maximizing production, minimizing logistics redundancy and improving the overall business efficiency.
The state-of-the-art SEZ is being developed jointly with Maharashtra Industrial Development Corporation (MIDC), the nodal industrial infra development agency of the state government which has developed over 60,000 hectares of industrial land in the state.
The state government and Hindustan Aeronautics Ltd (HAL) have jointly upgraded the Ozar airport at a cost of INR 94 crore.
The airport has a capacity to handle 300 passengers at a time and around six planes can be landed there. The building will be totally air-conditioned and will have all facilities and amenities as per existing global norms.
REALTY MARKET OVERVIEW:
Nashik's residential property market had grown at a leisurely pace until about 2006 when it emerged as an attractive alternative to traditional hotspots like Mumbai and Pune.
Some of the active developers in Nashik are Thakkers Developers, Archit Group, Karda Constructions. Samraat Group Nishant Builders, Nayantara Estates, Shree Buildcon, Deepak Builders & Developers, Mittal Developers and Lalwani Constructions to name a few.
Property prices here have increased by 15-30 percent over the last two years. Property sales here are mostly end-user driven and not investor driven.
Even today, Nashik's property market offers relatively low entry costs and attractive appreciation rates.
Nashik's pleasant climate attracts buyers apart from religious sentiments that do contribute as major motivators for property purchase decisions.
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, holds immense promise for future appreciation.
With the exception of a few prime areas, residential rates are in the range of approx INR 3500-5000 psf, while commercial /office space is available for about INR 5000-8000 psf.
Preferred destinations for commercial development here include: the Old City, College Road, Nashik Road and Gangapur Road.
BPOs and IT majors have begun recognizing Nashik as a viable destination given its lower real estate costs and huge pool of educated, English-speaking population.
In the residential segment, the best places to invest include: Anandwalli, Indirangar, Pathardi, Pathardi Link Road, Makhmalabad and Pune road.
Takli Road, Chandsi, Nashik-Peth-Gujarat Highway and properties in Nashik Road, are some of the more upmarket investment destinations with a huge potential for real estate development.
Investors from Mumbai and Pune have started to see the value and merit of investing in Nashik's real estate, attracted by its salubrious climate, well-developed infrastructure and affordable property prices.