Nasik: Riding on the good response received during Dasara, the city builders are now eyeing to cash in on Diwali festivities to tide over the current slowdown in the realty sector here. Around, 4,000 flats worth Rs 1,200 crore are currently lying unsold across the city.
Around 125 flats, collectively worth Rs 35 crore, were booked in the city during Dasara. The Confederation of Real Estate Developers Association of India (Credai), Nashik, is hoping that another 100 flats will be booked during Diwali.
Jayesh Thakkar, president, Credai (Nashik), told TOI, “Like Dasara, we are hopeful that demand will pick up once again during Diwali. We expect booking of around 100 residential units during the festival.”
In a bid to cash in on Diwali festival, around 22 builders came together and conducted a three-day property exhibition last week where around 150 projects with 4,500 flats were showcased.
Naresh Karda, director of Karda Constructions, said, “We received bookings of six flats on Dasara. By Diwali, we expect bookings of another 10 flats. There have been no rise in the property prices and they are stable for the past two years. The rate of interest by banks has also reduced to some extent. People, who were awaiting decline in property prices, have started buying homes considering that rates will not go down.”
The Credai Nashik had organised a two-day property exhibition in Ghatkopar, Mumbai, before the commencement of Navaratra festival in the second week of October. Around 24 developers had showcased close to 200 projects with total around 5,000 flats during the expo.
Residential property prices across city
Locations Price range (Rs. Per sq ft.)
Nashik Road Rs. 3,000 to Rs. 4,500
Dwarka (Ashoka Marg) Rs. 3,000 to Rs. 4,225
Pathardi Rs. 3,000 to Rs. 3,500
Indira Nagar Rs. 3,200 to Rs. 3,500
Gangapur Road Rs. 4,000 to Rs. 6,000
Mahatma Nagar Rs. 5,000 to Rs. 7000
College Road Rs. 6,000 to Rs. 7,500
Tidke Colony Rs. 4,000 to Rs. 4,500
Panchavati Rs. 3,000 to Rs. 4,000
K K Wagh College Rs. 2,700 to Rs. 3,000
Satpur Rs. 2,500 to Rs. 3,000
Ambad Rs. 2,500 to Rs. 3,000
Makhmalabad Rs. 2,500 to Rs. 3,000
Adgaon Rs.2,500 to Rs. 3,000
Source- CREDAI Nashik