The Nashik Municipal Corporation (NMC) provided much-needed impetus to the city’s real estate industry in October, approving only 230 building plans. These projects will cost at least Rs 100 crore, including land costs, and will add about 600 apartments in the area, in the next two to three years. In October, an NMC official stated that civic groups had received 350 building plan proposals, 230 of which had been approved, and the rest were under investigation.
According to him, the developers are eager to get their plans approved in order to start work immediately. According to Umesh Wankhede, a senior member of the Confederation of Real Estate Developers Associations (CREDAI) Nashik, demand for the housing industry has increased after the pandemic. He said that people have understood the importance of owning their own houses. According to Wankhede, who is also chairman of the Real Estate Committee of the Maharashtra Chamber of Commerce, sales inquiries have also increased.
He said that earlier demand for ready-made units was low, but now people are booking new ones. Builders have also begun to prepare new building plans and submit them to the National Municipal Commission for approval. At the same time, the prices of raw materials such as steel and cement have increased globally. As a result, construction prices have risen by 20%. After Diwali, the cost of the apartment may rise. Therefore, people are using this opportunity to buy houses, he said.
News Source: The Times Bureau