Over 500 Residential Projects to Start in Nashik City
Various real estate developers in Nashik city have firmed up plans to launch around 500 new residential projects, worth at least Rs 5,000 crore, in the city during the forthcoming festive season. President of Credai-Nashik Ravi Mahajan said many builders have already submitted around 250 project plans to the Nashik Municipal Corporation (NMC) for approval. “The plans of the remaining 250 projects will be submitted in the near future. There will be at least 10,000 flats in these 500 housing projects. Since there is a significant demand for housing in Nashik, we are sure the prospective home buyers will book these flats,” added Mahajan. According to him, all these projects will be launched in a phased manner beginning around Ganeshotsav and Diwali this year. “Like other sectors, the real estate sector in Nashik had been severely affected by the pandemic that broke out early last year. No builder could launch new projects in 2020 due to various constraints. However, with the administration easing restrictions last month, activities in the real estate sector have started picking up as customer inquiries and site visits have increased. Moreover, customers have also started booking flats,” said Mahajan. The real estate sector had some good news in June with over 300 flats, worth over Rs 105 crore, being sold in that month alone. According to Umesh Wankhede, the chairperson of the real estate committee of the Maharashtra Chamber of Commerce, Industries and Agriculture (MACCIA), “With demand for homes gradually picking up, we are sure the realty sector will register significant growth in the near future. The site visits have increased over the past month. People are directly visiting the sites and the conversion of inquiries into business will start increasing during the festive season,” said Wankhede.
Tags : News/Views Real Estate Builders CREDAI Residential Projects Start Nashik Nashik City Nashik Municipal Corporation (NMC) Ravi Mahajan