The best time to invest in any market is at the initial stage when the pricing is still low. This rule applies to all investment avenues. Once the market gathers momentum and prices start upward spiral, scope for benefiting from that increase reduces in direct proportion.

This has resulted in a quandary, which is faced by most property investors today. Property prices have been rocketing sky high over the past few years in all metros. Even rates at prime locations in Tier II cities like Pune are rapidly rising beyond the reach of individual investors.

The solution is simple, follow the experts. ITES-BPO sector companies are increasingly targeting Tier III cities like Nashik precisely because of these price constraints, so why not follow their example? After all, Nashik offers all the benefits that a property investor looks for. The city has been insulated from the sharp upswing in prices till date, but now stands on the verge of a property boom that could well rival Pune’s performance over the past five years, so the timing is perfect at present.

Anant Rajegaonkar, president, Promoters and Builders Association , Nashik (PBAN), reveals, “With the JNNURM, the city will see a makeover. Highway fourlaning has commenced, so the day is not far when the drive to Nashik from Mumbai will be just a couple of hours. Then Nashik will be considered as just another extended suburb of Mumbai, the way Pune has been ever since the Expressway became operational and property prices will just shoot up in the same way.”

Air links too shall strengthened as Aviation Minister Praful Patel said, “With the flood of airlines coming; no parking place in Mumbai and major cities, the facility will have to be started in Nashik.” The Cargo Container Corporation of India is starting operations this month at the Nashik airport, which augurs good things for the future.

Jitendra Thakker of Thakkers Developers Ltd., says, “The McKinsey Committee report states that the Nashik, Mumbai, Pune Golden Triangle will be an example for the entire Asian region and it will generate high levels of employment. The reason why Nashik is such a good investment option today is that the city is even cheaper than others like Jalgaon and Dhule. With plots becoming exhausted in the NMC areas, the areas of Adgaon, Makhmalabad, Chehdi, Pune Road, Igatpuri, Sinnar are also being preferred.

At certain locations, rates are even as low as Rs 50 per sq. ft., peanuts compared to similar Tier III cities.”

Source : The Economic Times

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