Nashik’s Housing Market Shows 22% Surge in Apartment Sales Amid Supply Decline

Nashik’s Housing Market Sees 22% Rise in Apartment Sales Despite Supply Drop

Nashik’s Housing Market Shows 22% Surge in Apartment Sales Amid Supply Decline The Nashik residential real estate sector has seen a big jump in apartment sales, going against national trends of supply limits and slow growth. According to recent findings from CREDAI and Liases Foras, apartment sales in Nashik climbed 22% year-on-year to 8,583 units in 2024, surpassing both pre-pandemic levels and other cities.

Key Data Highlights

  • Sales Growth: Up from 7,056 units (2023) to 8,583 units (2024).
  • New Supply Drop: Development launches fell 30%, declining from 6,205 units to 4,325 units.
  • Inventory Reduction: Reduce apartments demands 15% to 12,494 units, showing tighter market conditions.
  • Price Stability: Rates stayed steady at ₹3,134–₹15,833 per sq. ft. (carpet area).

Mixed Market Dynamics

While demand remains strong, Nashik’s supply-demand imbalance has grown:

  • Accelerated Absorption: Higher sales speed and fewer new launches have made the market less available.
  • Developer Strategy: Builders are focusing on finishing projects faster rather than launching new ones due to rising costs.

Expert Insights

Pankaj Kapoor, MD of Liases Foras, credits the surge to Nashik’s improving infrastructure and industrial growth. He says: “There’s huge potential in housing and commercial sectors as Nashik becomes a secondary city hub.”

Gaurav Thakker, CREDAI Nashik Chapter president, adds that better roads, expanded public transport, and new SEZs have made the city more attractive to both homebuyers and institutional investors.

Five Reasons Behind the Surge

  1. Infra Expansion: Upgraded national highways and planned Metro projects improving accessibility.
  2. Industrial Growth: More manufacturing activity in automotive and pharmaceutical sectors.
  3. Affordable Pricing: Competitive rates compared to Pune and Mumbai areas.
  4. Investor Interest: Instead of buying, students and professionals move into rental apartments.
  5. Government Schemes: Momentum from PM Awas Yojana subsidies and RERA compliance boosting buyer confidence.

Future Outlook

Industry experts foresee steady growth, noting:

  • Untapped Markets: Potential for mid-segment housing to meet rising middle-class demand.
  • Policy Support: Proactive measures from local authorities to streamline approvals and cut construction costs.

This upward trend positions Nashik as a key growth corridor for Maharashtra’s real estate sector, especially for developers focusing on affordable and mid-range residential projects. Analysts suggest monitoring supply recovery and price trends as buyers increasingly value location-advantaged projects with better connectivity to economic hubs.