Nashik civic body nods over 1k realty projects during Aug-Dec 2021

More than 1,000 housing projects have been sanctioned by the Nashik civic body between August and December 2021, while more than 400 building plan submissions are still pending with the civic body for clearance. These projects range from five to more than 50 flats, and these building projects will render more than 25,000 homes in the city. Confederation of Real Estate Developers Association of India (CREDAI) Nashik told the media that more than 1,600 projects are already under development, comprising the 1,000 recently-approved projects. An official of the Nashik Municipal Corporation (NMC) told the media that just 200-odd housing projects were sanctioned during the first four months (April-July) of the current financial year due to the second wave of the pandemic, but the sector gained a much-needed growth thereafter. Approximately 800 housing projects have been approved during the past five months till December. It is mainly because of the 50% concession given in costs for premium Floor Space Index (FSI). Moreover, the government had additionally given exemption from online submission and permission for four months between October 1 and December 31. As a result, builders and developers, who were planning the implementation of the projects, presented their building plans to obtain double benefits. Image Source Also read: Over 1,000 residential projects nodded in Nashik during Aug-Dec ... Also read: NMC not ready to waive tax on properties with less than 500 sq ft ...