With the rise in demand for houses, especially in Tier II & III cities, after having realised the importance of this commodity during the lockdown, and an increasing trend towards a hybrid work culture promoting WFH, Nashik is among one of those geographies that has experienced a surge in its infrastructural development. Strategically located at a high altitude, and being blessed with a climate that makes people fall in love with the city, it being part of the Golden Triangle of the state, along with Mumbai & Pune, and being included in the Smart City Project, has resulted in Nashik becoming host to large scale investments from all over the country, and has commenced a growth trend that promises high value returns to all investors.
Additionally, on account of the highly saturated realty scenario in Mumbai & Pune, people have now turned their attention to Nashik. With a great connectivity to both these cities by road, facilitated by speedy and developed transportation facilities, the travel time between these places has drastically reduced, thereby bringing Nashik at the top of the investment list. Moreover, the low entry costs in the property sector, but high return on investment rate (in the range of 15-25%) is a hook that is difficult to avoid, for investors. Another factor that contributes to the development is the fact that Nashik being among one of the 3 locations where the historic, and highly regarded event of the Kumbh Mela is held, it always has government interest, with respect to development projects, and budget allotments.
The increased rate of migration to Nashik, from surrounding areas, owing to the presence of prestigious educational, commercial and industrial institutions, has also resulted in a demand for housing, to accommodate the denizens and their needs. The Yashwantrao Chavan Maharashtra Open University, the Gokhale Education Society, K. K. Wagh Institute of Engineering Education & Research, the NDMVP cluster of educational institutions, are just few among the many reputable organisations that receive students from all over the state. Apart from that the presence of giant conglomerates such as HAL, Mahindra & Mahindra, Bosch (MICO), Siemens, Garware Industries, VIP, CEAT, ABB, Kirloskar Oil Engine, Glaxo, Crompton Greaves, etc. attracts hordes of potential employees, looking to live and work in Nashik. The proposed upgrade to Shirdi Airport is also bound to increase the tourism prospect of Trimbakeshwar, Nashik, thus amplifying the requirement of hospitality infrastructure in and around Nashik City. The repute of Nashik as the wine capital of the country because of the huge expanses of vineyards and wineries all over Nashik, is also responsible for contributing to the worth of Nashik as a preferred investment destination.
Overall, it’s the right time to jump on the bandwagon that leads to investments in Nashik, before it gets too crowded! Investing in Nashik today, will truly prove to be a wise decision tomorrow!