After Pune's IT revolution, now it's Nashik

Ever since Pune embraced the IT revolution , there has been no stopping to the growth of this city. With some concerted efforts by the government to give impetus to this sector, bigger giants in the software industry shifted their base there. The express highway between Mumbai and Pune too worked wonders for this sector, resulting into a boom in the real estate industry.

Now, Nashik city finds itself on the same course. The Maharashtra Government is all set to lay emphasis on the IT sector in Nashik. Bigger giants in the IT industry are already eyeing this city since long, while the infrastructural development, the road widening work between Nashik-Mumbai , Nashik-Pune , air connectivity, etc, are all serving as the icing on the cake. With all such things taking place, just like they happened in Pune a few years back, the real estate industry in Nashik is set for a major boom.

Says Sujoy Gupta of Samraat Group, "There's a reason to it. Nashik has all the ingredients to make it an ideal destination for investments in homes. Secondly, the climatic conditions, healthy industrial, educational , social and cultural scenario, all goes into making Nashik a favoured city."

On the basic of these features, Nashik city in a periphery of around 25 kms, is witnessing a boom in the real

estate sector in all its directions. Falling on the Nashik-Pune Road, Nashik Road, 20 kms from Sinnar , where the Special Economic Zone (SEZ) is coming up, is witnessing tremendous construction activities. Says Naresh Karda of Karda Constructions, "Since the announcement of SEZ at Sinnar, Nashik Road has come under the spotlight.

On one hand this part of Nashik city, connects to Sinnar and Pune, on the other, Aurangabad Road also passes through its vicinity. Many posh housing projects are coming up in the stretch between Dwarka and Nashik Road and are getting a good response on the basis of easy accessibility to the city, presence of large number of educational institutes, including the international ones and malls and multiplexes."

From Dwarka towards Govindnagar and Tidke Colony, which now forms the heart of the city is becoming the premium area of the Nashik city. Falling on the Mumbai Agra Road, property seekers from Mumbai appear more interested in this area, while developers are not living any stone unturned to ensure that the amenities they provide are at par with those in metropolis.

Falling on the other side of the Mumbai Agra Road, the stretch from Rajivnagar to Pathardi is another happening belt for the construction industry. Informs Sunil Bhaybang of PBAN, "Due to the reasonable property rates in this area compared to other parts of the city and also falling on the Mumbai Agra Road, which is fast getting converted into six lanes, this area has become a preference of a large number of home seekers."

Ashok Mohanani, Managing Director of Ekta World, who is coming up with a huge township project at Pathardi with world class amenities at their Greenville project says, "Pathardi is a strategic location for several reasons. The infrastructure around the highway with the service road on both the sides, the modern yet tranquil environs and institutes like Symbiosis and Wockhardt Hospital work as additional features to attract more home seekers."

The College Road and Gangapur Road areas of the city with maximum shopping complexes , banks, educational institutes and recreational centers are ruling the roost and are home to the elite class of the city.

Due to the absence of industries, the Panchavati area has not seen much movement in the property segment as compared to other parts of the city.

However, what can work to its advantage are the three highways passing through it, says Niranjan Shah of Subhadra Estates. He also adds the 100-feet ring road connects Panchavati to the bustling Gangapur Road of the city within a matter of few minutes , while home seekers can also consider the less pollution levels and the presence of religious tourism.

Last but not the least, Deolali Camp is yet another favourite destination of property buyers mainly from Mumbai and Pune. A class 1 cantonment, surrounded by picturesque, Sahyadri ranges, this town dotted with a number of sanatoriums by Gujrati, Marwadi, Parsi and Jain communities, is not only rich in educational institutes, but also a favourite market place among Nashikites.

"With zero level pollution and 0.5 FSI, home seekers are sure about peace and tranquillity they would get. Further, not only the Nashik-Pune Highway and Ghoti-Sinnar road are close-by from Deolali , but all the trains running on the Central Railway also stop at Deolali. This has made Deolali Camp the favourite destination of all," says Amar Vasani of Bindu Land Developers.

Nashik's real estate market offers numerous choices in terms of homes for end users as well as for investment purposes. With property prices at attractive levels and reduced home loan interest rates, this appears to be the best opportunity to zero in on the property of your choice.