Lift for real estate, jewellery markets on Gudi Padwa
Apr 01, 2014
Source : The Times of India


NASHIK: The real estate sector and the jewellery market saw good business across the city on the occasion of Gudi Padwa on Monday.

According to the Confederation of Real Estate Developers' Association of India (CREDAI), Nashik, close to 425 flats totally worth around Rs 110 crore, were booked across the city on the auspicious occasion. Moreover, a few new real estate projects were also launched on the occasion. The jewellery market too saw a boom with business of crores of rupees being generated on Monday.

Kiran Chavan, the outgoing president of CREDAI, Nashik, said, "It is difficult to tell the exact number of flats booked, but as per primary information, close to 425 flats worth Rs 110 crore were booked across the city on Monday. This is really a good sign for the real estate sector which is passing through the recession phase for the past 18 months. Two-three new projects were also launched on Gudi Padwa in the city."

Chariman of a private construction group, Sujoy Gupta said, "We did good business on Gudi Padwa as we received 24 bookings of flats. We also launched a new residential project with a total of 250 flats with sizes ranging from 1,000 sq ft to 1,300 sq ft." Chairman of another private realty firm Karda Constructions Pvt Ltd Naresh Karda said, "We gave possessions of 22 flats to our customers on Monday and received new bookings for 11 more flats. Although the sector is facing recession, the real estate market is improving gradually. We have sold 180 flats during the last six months. It shows the sector is gradually limping out of recession."

Apart from real estate sector, jewellery showrooms too generated good business. The gold prices were recorded at Rs 28,800 per 10 gram, while silver prices were recorded at Rs 44,500 a kg on Monday.

Speaking to TOI, Rajendra Odhekar, president of the Nashik Jewellers' Association, said, "We generated good business in jewellery showrooms across the city with people rushing to buy gold. The gold prices have already declined by around Rs 2,500 per 10 gram in a month. The rush was also because of the wedding season." He, however, avoided divulging details pertaining to the exact sale in the showrooms in Nashik city.

There are a total of 5,000 small and large jewellery showrooms across the district, including 1,000 shops in the NMC limits. There close to 250 shops at Saraf Bazaar, the city's major jewellery market.


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