Situated 200 km away from Mumbai, Nashik nestles comfortably in the lap of picturesque boulevards, nurturing in its pleasant climate. Embodied in the fervour of mythology and culture, it has grown into ‘India’s most promising city’ (as awarded by the First Smart Cities Council), carrying the beads of industry and pilgrims together and sculpting a personality of its own.

Brewing a sense of serenity and sanctity, Nashik happens to be one of the four cities where the Kumbh Mela is held every 12 years. Situated on the banks of river Godavari, Nashik is home to various sacred sites, making it a perfect destination for religious tourism. Panchavati, Ramkund, MuktidhamTemple, KalaramTemple, SundarnarayanTemple, Trimbakeshwar and SomeshwarTemple are some of the few places that transcend oneself to spiritual tranquillity. Nashik is also close to Shirdi, one of the biggest pilgrimages in India. Shirdi Sai Temple of Shri Sai Baba is about 80 km away by road.

Industrial cocoon

Nashik has three well-developed industrial estates at Satpur, Ambad and Sinnar. The prominent industrial houses situated in Nashik and its nearby areas include ABB India, Mahindra and Mahindra, Gabriel, Glaxo SmithKline, LG Electronics, Samsonite and Siemens.

Cottage industry has thrived in Malegaon, which is famous for its handlooms and power looms. Carpet weaving in remote areas like Surgana Block has added to the growth of this city.

Strong development and industrialisation over the years has led to growth in migrant population in these industrial pockets, spurring the demand for real estate. While Nashik hasn’t fully grown into a metropolis, it has all the necessary elements like regular water supply, good sanitation facilities, and intra and inter-city commuting facilities, evincing the interest from both investors and realty buyers alike.

The appetite of realty players is increasing, with various builders having multiple projects in prime locations. One such posh locality is Gangapur road that is situated close to the Gujarat highway. Thakkers Developers, Archit Group, Karda Constructions, Samraat Group, and Lalwani Group have ongoing and upcoming residential projects in the area, with prices ranging from Rs.3, 598 to Rs.5, 296 per sq. ft. The realty footprint is also picking up pace in Takli road, the area surrounding the Mumbai-Agra highway, which is only 15 km from the Ozar airport. Various projects are also coming up on the Nashik road, with prevailing rates in the range of Rs.2, 840 to Rs.4, 095 per sq. ft. Other prominent areas are Indira Nagar (Rs.2, 779-Rs.4, 011 per sq. ft) and Panchwati (Rs.2, 545-Rs.3, 666 per sq. ft).

Investments galore

Nashik is abuzz with investment opportunities as more and more onshore and offshore industrialists are queuing up to invest here. FDI investment is pouring in and a 2,000 acre China industrial park is being built. The proposed park will have 20 to 30 non-polluting Chinese units and is expected to employ close to 3,000 people.

The central government’s project of Delhi Mumbai Industrial Corridor (DMIC) includes Nashik’s Igatpuri and Sinnar areas, where nearly 20,000 hectares of land development will be done. One of the five mega industrial cities planned along DMIC will also come up here.

These mega projects that are in the pipeline would take Nashik to new heights of development. What works in Nashik’s favour is its proximity to Pune and Mumbai. The industrial and infrastructure development has picked up pace and Nashik has been the hotbed of growth, contributing a significant chunk in Maharashtra’s development.

While its pilgrimages and culture hold its fort, the city, with its fast-emerging investments from all over the world, is inducing massive realty interest and turning itself into country’s next industrial hub.

IFAN FINSERV – Independent Financial Associates Network is a web enabled distribution platform of IFAN Finserv Pvt. Ltd (ifan.co.in).

olmdesk@outlookindia.com