Business Standard-Nashik Sees Ready Reckoner Rate Hike, Housing Prices Likely to Rise 3-4%
The government has increased the official land valuation, known as the ready reckoner rate, across Nashik, with the highest hikes observed in Mahatmanagar, Adgaon, Canada Corner, Satpur, and Gole Colony-Ashok Stambh (TP-1). Other affected areas include Govindnagar and Motiwala College, where the rates have surged significantly. In most parts of the city, the increase ranges between 5% and 9.5%.
Real estate experts, including the National Real Estate Development Council (NAREDCO), predict that this hike will result in a 3% to 4% rise in overall housing prices. CREDAI Nashik Metro has also echoed similar expectations.
