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

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

15 Oct 2025

BMC Gets CRZ Nod For Rs 40 Million Gorai Bridge Rebuild

The Brihanmumbai Municipal Corporation (BMC) has secured Coastal Regulation Zone (CRZ) clearance for the reconstruction of the Poisar River bridge in Gorai, located in Mumbai’s western suburbs. However, the proposed demolition of the existing 100-metre bridge has sparked opposition from local residents, who claim it serves as the only direct access route between the Lower and Upper Koliwada areas. The three-decade-old bridge, situated within the CRZ buffer zone, was recently declared structurally unsafe following a civic audit. The BMC has sanctioned its reconstruction at an estimated cost ..

Infrastructure Transport

15 Oct 2025

NHAI Completes Rs 15.9 Billion Four-Lane Stretch On ECR

The National Highways Authority of India (NHAI) has completed the four-laning of the 38 km Puducherry–Poondiyankuppam stretch, ending near Cuddalore, in a development that will cut travel time by up to two hours, according to a report by The New Indian Express. The upgraded section, built at a cost of Rs 15.9 billion under the Bharatmala Pariyojana Phase I, marks a major milestone in the ongoing East Coast Road (ECR) widening programme. The project promises a smoother, faster drive for motorists travelling towards Cuddalore, Chidambaram, Sirkazhi, and Nagapattinam. With this completion, 22..

Infrastructure Transport

15 Oct 2025

Encroachments Delay Rs 1 Billion Ghatkopar Bridge Project

The construction of a new cable-stayed rail overbridge at Ghatkopar and the widening of the Andheri–Ghatkopar Link Road (AGLR) have been delayed due to the presence of nearly 250 encroached structures on both sides of the road. In response, Municipal Commissioner Bhushan Gagrani has directed officials to carry out a structural audit of the existing bridge over the railway line and enforce temporary restrictions on heavy vehicles to ensure public safety. The bridge, which starts at the Golibar Road junction near LBS Marg and extends up to the Eastern Express Highway (EEH), serves as a critic..