Gangapur Road witnessess low sales due to high property rates
Gangapur Road, which was once known to attract many small and large scale real estate developers is now lying dull due to high property rates. It is one of the developing areas in Nashik and has been witnessing low sales in properties for quiet some time.
In the past one year, the locality has seen a price appreciation of about 25% because of good demand from investors and buyers. One of the reasons for good demand for properties in Gangapur Road is the good connectivity to the Satpur industrial area, city center and neighbouring cities.
Some of the well known developers who have invested in Gangapur Road are Peninsula Land, Rushi Raj Builders and Developers, Archit Group, Suyojit Infrastructure Ltd, etc.
Gangapur Road is a stretch which starts from KTHM College and goes till Gangapur Dam. About three micro markets which is good for real estate point of view are KTHM College to Jehan Circle, Jehan Circle to Savarkar Nagar and Sarvarkar Nagar to Serne Medus.
Due to high demand and availability of plots, developers are coming up with 2 and 3 BHK apartments in Gangapur Road in the price range from Rs 4,500-5,500 per sq ft. Properties which are more than three years old are sold at Rs 1000- 1500 per sq ft which also adds profit to the developers.
Seeing the connectivity and good demand, today the area is counted as one of the premium localities in the state. Factors like good physical and social infrastructure, schools, colleges, shopping complexes in the vicinity also add to the property values to the locality.
In the past few years, due to high demand, property prices have gone high which has been out of reach of a common man’s pocket. Due to which there has been drastic dip in property sales and lease, added a property expert.
Developers are forecasting that property values in Gangapur Road is going to remain stable in the next three- four months. However, the long term real estate market in Nashik is going to boom due to announcement of Airport and other developments by State government.
2 and 3 BHK apartments in Gangapur Road, 2 BHK apartments in Gangapur Road, 3 BHK apartments in Gangapur Road, Archit Group, Gangapur Road, Gangapur Road Nashik, Mumbai, Nashik, Peninsula Land, price appreciation, price appreciation in Gangapur Road, Rushi Raj Builders and Developers, Suyojit Infrastructure Ltd
[...] Gangapur Road witnessess low sales due to high property rates [...]