Nashik real estate sector gains momentum after months of inactivity

21 Jun 2021 CW Team

The real estate sector in Nashik has regained momentum following the downslide due to the second wave of Covid-19.

The president of the Confederation of Real Estate Developers Associations of India (Credai) Nashik, Ravi Mahajan cites that the construction work at nearly 1,000 residential projects has resumed after the work was hampered by the covid restrictions for three months.

Mahajan added that the builders have started receiving offers from home buyers since earlier this month. Among the would-be buyers, some have also started visiting the project sites to assess the properties.

He also stated that it could take a month for the buyers to confirm the deals after analysing the land.

The real estate sector in Nashik was experiencing a steady growth until being hit by the covid era previously in March 2020.

Although things had begun to improve following the first wave, the second wave of the pandemic in March brought things back to square one.

Several local builders believe that the industry will benefit greatly if the state lowers the stamp duty, which will encourage more buyers to invest in real estate.

Mahajan declared that the firm needs the state government to lower the stamp duty from 5% to 2%.

He went on to say that the government had reduced stamp duty following the first Covid wave and that it had produced positive results.

A similar move could help revive the real estate sector.

Real estate sector recovers from its collapse during the pandemic due to the ease of restrictions.

The number of walk-in customers has outnumbered the number of telephonic enquiries. People are going to the site in person with a single customer visiting up to five different project sites.

Despite the fact that the cost of construction has increased by Rs 300 per sqft due to increases in cement and steel prices, prices have remained stable.

Image Source

Also read: Pune real estate sector hit by second wave of Covid-19

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

The real estate sector in Nashik has regained momentum following the downslide due to the second wave of Covid-19. The president of the Confederation of Real Estate Developers Associations of India (Credai) Nashik, Ravi Mahajan cites that the construction work at nearly 1,000 residential projects has resumed after the work was hampered by the covid restrictions for three months. Mahajan added that the builders have started receiving offers from home buyers since earlier this month. Among the would-be buyers, some have also started visiting the project sites to assess the properties. He also stated that it could take a month for the buyers to confirm the deals after analysing the land. The real estate sector in Nashik was experiencing a steady growth until being hit by the covid era previously in March 2020. Although things had begun to improve following the first wave, the second wave of the pandemic in March brought things back to square one. Several local builders believe that the industry will benefit greatly if the state lowers the stamp duty, which will encourage more buyers to invest in real estate. Mahajan declared that the firm needs the state government to lower the stamp duty from 5% to 2%. He went on to say that the government had reduced stamp duty following the first Covid wave and that it had produced positive results. A similar move could help revive the real estate sector. Real estate sector recovers from its collapse during the pandemic due to the ease of restrictions. The number of walk-in customers has outnumbered the number of telephonic enquiries. People are going to the site in person with a single customer visiting up to five different project sites. Despite the fact that the cost of construction has increased by Rs 300 per sqft due to increases in cement and steel prices, prices have remained stable. Image Source Also read: Pune real estate sector hit by second wave of Covid-19

Infrastructure Transport

01 Sep 2025

Indian Railways Marks New Milestone with 4.5 km Long ‘Rudrastra’ Trial

Indian Railways has successfully conducted the trial run of Asia’s longest freight train, named ‘Rudrastra’, achieving a new milestone in cargo transportation, as per news reports. The 4.5 km-long train began its trial from Ganjkhwaja railway station in Chandauli, Uttar Pradesh, and travelled to Garhwa in Jharkhand. Covering a distance of 209 km in 5 hours and 10 minutes, it maintained an average speed of 40.5 km per hour. The train was formed by combining three long-haul racks, with ..

Infrastructure Energy

01 Sep 2025

UltraTech Launches India’s First On-Site Hybrid RTC Renewable Energy Project

UltraTech Cement has operationalised a 7.5 MW round-the-clock (RTC) hybrid renewable energy project at its Sewagram Cement Works in Gujarat. The first-of-its-kind solution combines bifacial solar modules with trackers, wind energy and battery storage, co-located on-site, to ensure uninterrupted power for cement manufacturing without grid reliance. The project was executed in collaboration with clean energy solutions provider Gentari. Installed as a behind-the-meter system, it is the country..

Infrastructure Transport

09 Sep 2025

Patna Metro Trials Successful, Red Line Priority Corridor to Launch This Month

Patna is set to roll out its first metro rail service later this month, with successful trial runs conducted on the Red Line priority corridor, the Patna Metro Rail Corporation announced.On 7 September, a metro train completed a test run between the Patna depot and Bhootnath station. Officials said the trials involved rigorous checks of rolling stock fitness, overhead electrification (OHE), and track alignment and stability to ensure operational safety and performance.The corridor from the New Pataliputra Bus Terminal to Bhoothnath has been designated as the priority stretch and will be the fi..