Nashik Gains Popularity for Weekend Homes

If you are looking at buying a holiday home and Mumbai seems a bit expensive, Nashik is good alternative, as the city is gaining more popularity among buyers from both Mumbai and Pune. This is because Nashik enjoys proximity to both Pune and Mumbai. Moreover, the property values are less compared to either of these cities.

Nashik gains popularity

According to several builders, most of the people who are buying homes in Nashik are either from Mumbai or Pune. In fact, out of every 100 people buying a property in Nashik, about 40-50 are from Mumbai and 15-20 are from Pune. The rest are the local residents. Most of the people who are buying these properties use it for a weekend getaway while some use it for investments. While the trend seems to be new, it is not so. Nashik has always seen buyers from its neighbouring cities. However, the pace at which the properties are being sold has increased in recent times and that is what has put Nashik on the map of weekend homes.

Factors that drive sales

While connectivity is one major factor, Nashik’s pleasant climate and the available amenities also drive the sales. In terms of connectivity, one can reach Nashik from Mumbai and Pune within two hours and four hours respectively. The city lies on the intersection of two national highways. There are also several state highways passing through the city. Nashik has a very good public transportation system.

Apart from good connectivity, Nashik has good social amenities. Nashik is called the ‘wine capital of India’. There are several tourist destinations in and around the city. The Trimbakeshwar Shiva temple is close to the city. Unlike Mumbai, Nashik has more green cover and is definitely more peaceful. The city is considered a garbage dump-free city. The Kumbh Mela too takes place in the city once every 12 years.

Along with connectivity and climate, property values in Nashik are far lesser than those of Mumbai and Pune. For example, the approximate property value in well developed areas such as Indira Nagar, Pathardi Phata and Gangapur Road are about Rs 4,000-4,500 per sq. ft. This is far less than any area in Mumbai. Even for residents of Pune, these values are comparatively cheap.

Projects offered

Looking at the trend, there are several developers offering various amenities with their projects. Some of them include club house, swimming pool, joggers’ park and gardens among several other amenities. Most buyers from Mumbai and Pune prefer apartments and hence, 2 and 3BHK apartments are replacing row houses and individual houses. Buyers usually prefer areas such as Indira Nagar, Deolali and Pathardi Phata as these areas are more peaceful and serene than other areas.

Some of the builders active in Nashik include Shree Buildcon & Associates, Archit Group and Sairaj Builders and Developers.