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.


Latest Realty News

Guide to stamp duty for homebuyers
Apr 01, 2014
MUMBAI: Stamp Duty is one of the many expenditures that home buyers pay to own a property. However, most of us don’t know what stamp duty is and what it comprises of. Here is the brief on stamp duty for all the prospective home buyers.
Is Mumbai and Pune market going to see a major change on gudi padwa?
Apr 01, 2014
MUMBAI: “Buyers are back in the housing market!” exclaimed one of the city builders with a sigh of relief and they have enough reasons to be relieved. There is a considerable rise in the sale numbers, compared to January and February. City builders are only hoping that this trend will continue in the coming months as well. Madhurima Basu, director – residential services, Cushman & Wakefield, says, “Increase in demand is expected, due to developers offering discounts and subvention schemes to att
Gudi Padwa will boost market sentiments
Apr 01, 2014
PUNE: Gudi Padwa is believed to be the most auspicious time for a ‘new beginning.’ The emotional quotient of buying a property on this propitious day is very strong. Many prospective buyers wait for months and put in all efforts to lock in on a deal, on this day. Developers have come forward to lure the buyers and offer a wide range of properties to every segment, including end-users and investors.
Growth centres planned by state yet to see the light of day
Mar 31, 2014
THANE: The state government's plan to set up growth centres at Bhiwandi, Kalyan-Dombivli and four other locations has developed a hitch.
Civic body to auction 28 blocks in APMC market
Mar 31, 2014
AURANGABAD: The Aurangabad Municipal Corporation (AMC) on Sunday initiated the auction process of 28 blocks belonging to shop owners in the Agriculture Produce Marketing Committee (APMC) complex at Jadhavwadi market after they failed to pay property tax.
Big purchases add sheen to Padwa celebrations today
Mar 31, 2014
PUNE: For Prachi Puranik of Pashan, this year's Gudi Padwa on Monday is particularly special as her family will bring home an SUV.
First investments for a young professional
Mar 31, 2014
MUMBAI: For a while now, we have been addressing the needs and concerns of individuals approaching retirement. Not surprisingly, we received queries from young professionals — who have just started their career.
Property market looks good this Gudi Padwa
Mar 31, 2014
AURANGABAD: A festive spirit only adds to buyers' sentiments in the property market. After last year's slowdown due to the severe drought in Marathwada region, belligerence is the watchword in the Aurangabad property market this Gudi Padwa.
Credai awaits rollback of ready reckoner rates
Mar 30, 2014
NASHIK: The Confederation of Real Estate Developers Association of India (CREDAI), Nashik, is awaiting a rollback of the hike in ready-reckoner rates announced by the Maharashtra government from January 1, 2014. The organization has expressed its disappointment, with the hiked rates remaining unchaged after an assurance from the state government.
Realtors eye Gudi Padwa bookings
Mar 30, 2014
NASHIK: 2014's Gudi Padwa could signal better movement for the real estate sector in Nashik after a lull that has lasted for over a year-and-a-half. Considered an auspicious occasion for bookings, the past three months leading up to Monday's Gudi Padwa have seen close to 400 flats being booked in the city.

Latest Realty News Of State

Realty Talk's