Nashik is located in Maharashtra and the fourth largest city in the state after Mumbai, Pune, and Nagpur. It is known as the ‘Wine Capital of India’ as more than half of the vineyards and wineries of the country are located in Nashik. It has emerged as a prominent center for wine production and tourism, attracting visitors from across the country. The city is among the 100 cities in India under the Smart City Mission with the aim to augment core infrastructure, and public utilities, and improve quality of life. Along with infrastructure, the city also enjoys robust connectivity through road and rail networks to other major cities and towns in India. Nashik is also situated on the Mumbai-Agra National Highway 3, which connects Nashik to other major cities like Mumbai, Pune, and Ahmedabad. Additionally, Nashik also has a domestic airport and is a serving base for the Indian Air Force.
The robust connectivity and infrastructure development have fueled the services industry growth in Nashik. In line with this, Nashik hosts Maharashtra’s first multi-product Special Economic Zone (SEZ) spread over 2,500 acres. National and multinational companies such as Tata Consultancy Services (TCS), Mahindra and Mahindra, and Hindustan Unilever Limited amongst others have expanded their footprint in the city. Apart from the services industry, the city is also known for its booming manufacturing, pharmaceuticals, engineering, and automobile components industries. Owing to growth in industries and the resultant rise in employment opportunities, Nashik has witnessed significant immigration from the neighboring areas. The socio-economic development and immigration in the city have also fueled the property markets of Nashik.
The growing traction in property markets is also visible on Housing.com’s IRIS index, where Nashik has surpassed the national average. Nashik’s high-intent homebuyer activity peaked during the festive season in September 2022, reaching 153 points. A deeper look into the trend suggests that most homebuyers are looking for properties along Nashik Road, Nashik Expressway, Gangapur Satpur Link Road, and Makhmalabad Road. For instance, micro-markets such as Pathardi Phata, Indira Nagar, Nashik Road, Gangapur, and Panchavati have witnessed heightened homebuyer search activity in recent years. Nashik homebuyers are primarily seeking apartments followed by independent homes with 2 BHK and 3 BHK configurations. Overall, the sustained growth in the online property search trend in Nashik is a testament to its potential for continued upward momentum in the coming months.
Renuka Kulkarni, a seasoned real estate professional, brings over five years of diverse experience in research, consulting, and architectural design within the urban sector. Her expertise spans public and private projects, showcasing proficiency in real estate research, trend interpretation, and policy analysis. With qualifications in architecture and a master’s degree in Data Science (Business Intelligence & Data Analytics) from IIIT Bengaluru, along with an M. Tech in Urban Development and Management from TERI School of Advanced Studies, New Delhi, Renuka seamlessly blends data analytics with market insights, offering a holistic understanding of the industry in her research pieces.
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