Real estate in Nasik has seeing a slowdown in recent times as there is no demand for properties across the city like property in Laxman Nagar. Most of the people are hesitating to buy house in the city and the recent hike in ready recknor rates has proved to be a nail in the coffin. But real estate experts feel this is not the actual reason why people are hesitating to invest in properties in Nasik like flats in Laxman Nagar.
Most of the experts feel that people are waiting for a price correction to happen before they buy house. Real estate in Nasik has not seen a price correction in recent time. Infact most of the people who had invested in properties in Nasik like flats in Laxman Nagar a few years back are now enjoying good benefits as on an average the land prices have increased by three to 20 times in the city in past eight years. Even the flat prices which were ranging between Rs1,500 to Rs2,500 per sq ft have gone up to Rs 2,700 to Rs 6,000 per sq ft in the last few years.
Real estate in Nasik has seen a steep hike in prices and hence people look to buy properties across the city like property in Laxman Nagar are now looking for prices to correct. But the situation is unlikely to happen as investors are keen to invest in properties in Nasik like flats in Laxman Nagar as on an average a mid-size flat will cost about Rs 30-35 lakh where as luxury flat is costing around 50 lakh. Also many first time house buyers are looking to buy house here. So although real estate in Nasik is looking at a slowdown phase the property prices will continue to se a significant hike.
Most of the experts feel that people are waiting for a price correction to happen before they buy house. Real estate in Nasik has not seen a price correction in recent time. Infact most of the people who had invested in properties in Nasik like flats in Laxman Nagar a few years back are now enjoying good benefits as on an average the land prices have increased by three to 20 times in the city in past eight years. Even the flat prices which were ranging between Rs1,500 to Rs2,500 per sq ft have gone up to Rs 2,700 to Rs 6,000 per sq ft in the last few years.
Real estate in Nasik has seen a steep hike in prices and hence people look to buy properties across the city like property in Laxman Nagar are now looking for prices to correct. But the situation is unlikely to happen as investors are keen to invest in properties in Nasik like flats in Laxman Nagar as on an average a mid-size flat will cost about Rs 30-35 lakh where as luxury flat is costing around 50 lakh. Also many first time house buyers are looking to buy house here. So although real estate in Nasik is looking at a slowdown phase the property prices will continue to se a significant hike.
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