Nashik Municipal Corporation approves 230 building proposals in Oct

03 Nov 2021 CW Team

The festive season in India has boosted the real estate sector, and Nashik Municipal Corporation (NMC) has approved 230 building proposals in October.

The overall construction cost is expected to be Rs 100 crore, except for the land cost. It expects to add 600 more apartments in the next two to three years.

The NMC official told the media that the corporation had received proposals for 350 buildings in October. From the total, 230 have been approved, and the rest are being examined.

The official said that the festive season has a positive impact on the real estate sector. The builders are keen to get their proposals approved to begin the construction work.

A senior member of Confederation of Real Estate Developers Association (CREDAI) - Nashik and the Chairman of the Real Estate Committee of Maharashtra Chamber, Umesh Wankhede, said that the real estate demand has increased after the Covid-19 pandemic. People have realised the importance of their housing.

He said that the number of housing customers has increased. Last month, nearly 300 apartments of Rs 120 crore were booked. Previously, the demand was for ready possession flats, but now people are booking new flats.

He added that the real estate builders have started planning for new building projects and submitting their plans to the NMC for getting approval. The prices of construction raw materials such as steel and cement have also witnessed a price hike. Therefore, the construction costs have also increased by 20%.

The builders have not increased the prices and are selling flats at market rates.

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Also read: Chandigarh Housing Board to auction 159 properties from November 10

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