Nashik realty sector witnesses 50% growth since Ganeshotsav
The realty sector, which has been passing through a phase of recession and other difficulties for the past two years, have started witnessing positive developments from Ganeshotsav. According to the Confederation of Real Estate Developers Association (CREDAI), the realty sector of Nashik has registered 50% growth during the festive season from Ganeshotsav till now, compared to the corresponding period of last year. Around 300 flats worth Rs 120 crore have been booked or sold across the city since Ganesh festival, against 150 flats worth Rs 60 crore during the same period of last year.
“Last two to three years were very tough for us. Now, the Real Estate (Regulation and Development) Act (RERA) and the Goods Services Tax (GST) have been implemented. The monsoon has been good this year. Hence, a positive movement has started in the realty sector of Nashik, particularly from the Ganesh festival,” said Sunil Kotwal, president of CREDAI, Nashik.
“There has been around 50% vertical growth between August 25 and September 28, compared to the corresponding period of last year. Dasara is an auspicious occasion for booking properties. We are eyeing sale of another 150 flats worth Rs 60 crore on Dasara,” he said.