The real estate sector in the city has got a boost in the August-September period due to the festive season beginning with Ganesh Chaturthi and relaxations in the Covid restrictions.
Nashik Municipal Corporation (NMC) has received 1,485 building plan proposals so far since April this financial year, including 871 proposals in just the August-September period. The civic body’s town planning department has approved 784 building plans so far since April. Of them, 564 building plans were approved in the past two months.
NMC has earned a revenue of Rs 116 crore through various town planning taxes during the first half of the current financial year (April-September). Of that, 50% of the revenue was generated in August and September, said the NMC officials.
Earlier, the builders could not submit their building plans due to the pandemic, but they have now started submitting the plans,” said Umesh Wankhede, the Chairperson of the real estate committee of Maharashtra Chamber of Commerce, Industry and Agriculture (Maccia).
Wankhede, who is also a senior member of the Confederation of Real Estate Developers’ Association of India (Credai) in Nashik, further said that there has been a positive mood in the real estate sector after improvement in the Covid scenario and the festive season has only helped the cause. Builders have started planning new residential and commercial projects in the city.
“No new projects were launched during the festive season last year due to the pandemic, but the scenario has changed this year. Around 50 small and large residential building projects have been launched during Navaratra,” said Wankhede.
Jayesh Thakkar, a senior office-bearer of Naredco Nashik also reiterated the same. He said the market sentiments have become positive since the beginning of the festive season.
Tushar Pawar, TNN, Nashik