NASHIK: During the financial year 2025-26, property transactions within Nashik city limits reached an impressive Rs 17,543 crore, marking the highest annual turnover to date and indicating persistent growth in the local real estate market.
This estimate is derived from the revenue generated by the Nashik Municipal Corporation (NMC) through a 1% local body cess imposed on property registrations. Officials noted that the NMC collected approximately Rs 175.43 crore through this cess during the fiscal year.
Under the current registration system, property buyers within the municipal limits are required to pay a 6% duty upon registration. This includes 5% as stamp duty and 1% as a local body cess allocated to the municipal corporation.
The 2025-26 figures show a significant increase from the estimated Rs 13,529 crore in property transactions recorded in the previous year, signaling a robust rise in real estate activity.
Experts attribute this growth to regulatory reforms, shifting housing preferences, and the availability of ready-to-move-in homes.
“The Unified Development Control and Promotion Regulations (UDCPR), introduced by the state government in December 2020, have been instrumental in enhancing the real estate sector in Nashik. These simplified regulations have streamlined project approvals and spurred new developments,” explained Nilesh Chavan, a project management consultant and former president of the Nashik chapter of the Indian Institute of Architects (IIA).
Chavan also remarked on the shift in housing demand post-Covid-19, stating, “People have recognized the importance of spacious homes. Buyers who once favored 2-BHK apartments are now opting for 3-BHK units, and many existing 3-BHK owners are upgrading to 4-BHK homes. This trend is significantly driving the surge in property transactions.”
Additionally, a substantial inventory of completed housing projects supports ongoing sales. “There are approximately 25,000 to 30,000 flats ready across nearly 1,000 residential projects in Nashik; many buyers prefer completed properties over those still under construction,” he added.
Developers associated with CREDAI-Nashik reported steady demand across all residential segments, driving registrations citywide.
The spike in transactions aligns with transformations in Nashik’s urban landscape. Experts noted that the implementation of the UDCPR and the easing of building height regulations have encouraged vertical expansion in a city that was predominantly low-rise. The change in permissible building heights, now linked to fire safety measures rather than fixed caps, has opened doors for high-rise developments. With dwindling land availability within city limits and escalating prices, vertical growth is becoming the favored model for development.
NMC has already green-lit residential and commercial projects soaring up to 124 meters, enabling constructions of more than 40 floors. Officials indicated that a new generation of skyscrapers is gradually reshaping Nashik’s skyline, highlighting the city’s emergence as a dynamic urban and real estate hub within Maharashtra.
