Nashik has emerged as one of the most popular and fastest growing cities in the golden triangle in Maharashtra, with Mumbai and Pune being the other two cities. The favourable climate, strategic location and excellent connectivity by road make it the ideal investment destination for both residential and commercial purposes.
Here’s a look at why Nashik is one of the fastest emerging cities of Maharashtra:
1. Strategic location: Nashik offers excellent connectivity by road to Mumbai and Pune, as well as to a range of attractive weekend destinations. Being located at a distance of approximately 150 km from Mumbai, the financial capital of India, has allowed for Nashik to attract many global investors. Nashik offers excellent connectivity to Dhulia, Aurangabad and Mumbai through its 4 lane expressways. A 4-lane expressway between Nashik and Pune and a 6-lane expressway leading to Trimbakeshwar has also been proposed.
2. Rapid infrastructural growth: Nashik has been recognized as one of the fastest developing cities across the globe, and this has been due to its rapid infrastructural growth. Nashik has also been selected as one among the 100 Smart Cities to be developed in India.
3. Employment opportunities: The expanding IT sector and increasing industrialization in the area has led to a boom in the economic and employment opportunities in Nashik. The leasing rates for commercial property in Nashik are about 30-40 percent less than those of Pune and Mumbai. About 15 percent of IT professionals from Pune and Mumbai have moved to Nashik for employment. With the airport becoming functional, many IT companies are looking set up base in Nashik. Maharashtra Industrial Development Corporation (MIDC) quarters have already been established in Sinnar, while IndiaBulls has been allotted a large tract of land for developing an SEZ.
4. Natural beauty: Nashik is known for its pleasant weather all year round, its lush green environment and its bounteous vegetation. From superior quality fruits and vegetables to the finest wine in India, you can find it all in Nashik.
5. Education hub: As Pune becomes saturated, Nashik is set to become to next education hub with a large number of academic institutions setting up their base here. There are several international schools also coming up in the area.
6. Property appreciation: With a steadily increasing demand for property, the housing market in Nashik is a strong and fast-growing one. Many homebuyers who are looking to invest in a second home are also drawn to Nashik for a number of reasons. The under-construction projects in Nashik are available at affordable prices, further fuelling the demand for property in the area.
As one of the fastest growing cities in India, Nashik has surely made a mark for itself as the wine capital and real estate hub of the country. Its strategic location and excellent weather are its two greatest advantages over other cities, and it is sure to become the next metro in Maharashtra.
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