Best of Both The Worlds


Consider this. The nation is talking recession, and one upbeat developer launches the second phase of his scheme of ultra luxurious row houses. Taking note of Nashik’s potential, another Mumbai based group has come up with a huge housing project. Would you call it a daredevilry in the face of recession? Ask the builders and they will say, ‘perhaps not, Nashik is still ‘the place’ for investment. Wilfred Fernandes of Ekta World informs, "While tier I and tier II cities like Mumbai and Pune always provide an opportunity, Nashik is the next emerging market. Its proximity to Mumbai and its acquaintance due to education and pilgrimage sites like Shirdi, Vani, Infant Jesus Shrine and Trimbakeshwar lends an edge to this market." He further adds, another very important facet of Nashik is its demography, which has shown signs of superior socio economic group, combined with the psychographics, which is slowly changing from a conservative to a non-conservative outlook. Investment in a home in Nashik also offers you the advantage of having a second home in a modern yet peaceful location.

"Investment in a home in Nashik offers you the advantage of having a second home in modern location"
- Wilfred Fernandes,CMO, Ekta World;

With the same thing in mind, developers are coming with some fabulous projects. Manan Thakkar of Vini Group, who is launching the second phase of his Vini Park row house and bungalow project at Deolali Camp says, "It's all about the taste of a person. In this age of stress, a home has got to offer more than mere four walls and a roof. For this of course, location matters, minimum pollution levels matter, access to markets, hospital and banks, along with modern facilities like swimming pool with jacuzzi, steam and sauna, decorated terrace for parties, coffee shop, gymnasium... all appeal homeseekers.”

Meanwhile, though there happens to be a separate elite class that goes for such dream homes, a large number of home seekers are also seen differentiating needs from wants. "A one or 2BHK also sells fast, provided it comes with all the amenities," says Tushar Sankalecha of Sankalecha Constructions. He adds, "The trend of 'compact living' is fast catching up. People are going for things that match their priorities. Though nothing replaces grandeur and lavishness in luxury homes, they should not come at the cost of a huge burden of debt. Builders have realised this and hence are making ‘compact’ flats by cutting down all the excess area that adds to the cost. No doubt, such flats also come with all the amenities and facilities for a decent living.

On account of the newer concepts of builders every time be it for luxury living or budget living, Nashik's property market is continuously blooming. Even renowned groups from Mumbai have come down to Nashik watching its potentials. In fact, Nashik is one among the most attractive tier three cities in the country and this forms the very reason for the real estate growth.

Even as the main city continues to enjoy the maximum attraction of home seekers, just a few kilometers on its either side is a whole new world. Then be it the bustling real estate developments adjacent to the Nashik-Pune Road and Mumbai-Agra Highway, the fast growing Jail Road and areas in and around Nashik Road or the Deolali Camp always attracting people owing to its tranquil environs.

Considering the property rates here compared with those to Mumbai and Pune and projects covering almost all the classes, Nashik is indeed offering the best of both the worlds.