Panchavati, Cidco emerge as Nashik’s fastest-growing urban zones over seven years

Nashik: Panchavati and Cidco have emerged as the fastest-growing zones among the six divisions of Nashik Municipal Corporation (NMC) over the past seven years, largely due to a surge in new real estate development, civic data showed.The data, comprising environmental status reports and property tax department filings, showed that nearly 60% of all new housing and commercial projects in Nashik were concentrated in these two divisions. The Adgaon-Mhasrul-Makhmalabad stretch in Panchavati and the New Indira Nagar-Pathardi corridor in Cidco have become major hubs for large-scale construction activity.Overall, the number of properties in Nashik has risen by 46%, an addition of about 2 lakh properties, going up from 4.26 lakh in 2017-18 to 6.22 lakh now. Together, Panchavati and Cidco now account for 48% of these 6.22 lakh registered properties. Cidco has recorded a 54% increase, with the property count rising from 97,517 to 1.49 lakh during the period.Panchavati has grown even faster, registering a 64% jump from 91,577 to 1.50 lakh properties during the same period. Urban planners attributed this surge to improved connectivity, availability of development-ready land parcels and strong demand for residential clusters in the expanding outskirts of the city.Builders said the city's central areas had reached saturation, leaving virtually no scope for new projects. Gaurav Thakkar, president of the Confederation of Real Estate Developers Association of India (Credai), Nashik, said, "The central part of the city have crossed its saturation level, and most new real estate projects are now coming up on the outskirts, particularly in the Panchavati and Cidco divisions of the municipal corporation, due to better land availability and affordability.""This is the reason the maximum increase in properties over the last six to seven years has come from these two divisions," he said.Similarly, the New Indira Nagar-Pathardi stretch in Cidco has emerged as a major growth corridor, with extensive residential and commercial development under way. These two rapidly expanding belts now host a majority of Nashik's ongoing project activity, significantly contributing to the rise in property numbers in both divisions.