NASHIK: Apart from residential buildings, over 125 commercial projects with around 12,500 shops and offices are under construction across Nashik city.
Interestingly, majority of commercial projects are coming up on the outskirts of the city. Earlier, commercial projects were limited only to posh commercial market areas like College Road, Mahatma Nagar, M G Road and Main Road areas of the city. But now the projects are coming up at Mhasrul, Adgaon, Pathardi, Untawadi, Govind Nagar and Indira Nagar.
According to the Nashik chapter of Confederation of Real Estate Developers Association of India (CREDAI), around 25 projects are in the finishing stages while the remaining will be ready in the next one or two years.
Ravi Mahajan, president of CREDAI Nashik, said the realty sector has gathered momentum in the city after two years of Covid pandemic. “Apart from residential projects, pure commercial projects are also coming up in the city at large. The demand for the commercial properties like shops and offices have increased during the last few months,” he said, adding that the realty growth of the city has moved from core areas of the city to outskirts.
Nilesh Chavan, senior project management consultant and former chairman of the Nashik-centre of Indian Institute of Architects (IIA), said other than the hundreds of commercial projects that are already under construction, building plan proposals for similar number of commercial projects have been submitted to the town planning department of the Nashik Municipal Corporation (NMC) for its approval.
“This is a positive sign that indicates that economic activities of the city are gradually improving,” Chavan added.