Nashik's Real Estate Surge: Demand Soars Amid Declining Supply

Nashik's housing market saw a 22% surge in apartment sales as reported by Credai and Liases Foras, contrasting with a 30% drop in new supply, leading to reduced unsold inventory. Stable prices and investor interest highlight Nashik's growing potential due to infrastructure and connectivity improvements.

The Nashik housing market witnessed a noticeable boom last year, with apartment sales climbing 22% to 8,583 units, according to a report by Credai and Liases Foras. This data reflects a rising demand despite a significant decline in new supply.

Released during a conference in early March, the report indicates that new apartment supply dropped 30% to 4,325 units. Consequently, unsold inventory decreased 15% to 12,494 units. Price stability was maintained, with per square foot rates between Rs 3,134 and Rs 15,833.

Pankaj Kapoor from Liases Foras highlighted the potential for further real estate development in Nashik. Gaurav Thakker of CREDAI's Nashik Chapter attributes the city's growth to enhanced infrastructure and industrial expansion, making it appealing to investors and homebuyers alike.

(With inputs from agencies.)