City
Epaper

Nashik Sees Ready Reckoner Rate Hike, Housing Prices Likely to Rise 3-4%

By Chitra Rajguru | Updated: April 2, 2025 15:44 IST

The government has increased the official land valuation, known as the ready reckoner rate, across Nashik, with the highest ...

Open in App

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.

Average Increase in Land Valuation

The state government has raised the ready reckoner rate by 7.31% for Nashik city and 4.88% for Malegaon city.

Following the COVID-19 pandemic, the government had paused the annual market value hike, considering the financial strain on citizens. However, in the current fiscal year, the valuation has been revised upward, prompting a detailed study by real estate professionals to assess its impact on various areas.

Area-Wise Ready Reckoner Rate Increase

Satpur, DP-1, Canada Corner, Adgaon, Mahatmanagar – 10%

Govindnagar – 9.28%

Motiwala College Complex – 9.2%

Ambad – 8.5%

Makhamalabad – 8.1%

Mhasrul – 7.71%

Jail Road – 6.4%

Hirawadi, Tarwala Nagar – 6%

Gangapur Road – 5%

Pathardi – 5.4%

Kamatwada – 4.48%

Impact on Housing Prices

According to NAREDCO Nashik branch president Sunil Gawande, the highest increase has been recorded in Mahatmanagar, Adgaon, Satpur, and DP-A (Gole Colony, Ashok Stambh). Other areas like Govindnagar and Motiwala College have also seen a considerable rise.

CREDAI Nashik Metro president Krunal Patil explained that ready reckoner rates are influenced by four key factors: construction development charges, Transfer of Development Rights (TDR), stamp duty, and income tax. As a result, property prices are expected to rise in response to these increases.

With the new rates in effect, homebuyers and investors will need to account for the higher costs when making real estate transactions in Nashik.

Tags: NashikCredaiHousing and infrastructureCredai Maharashtra
Open in App

Related Stories

NashikNashik: Brave Woman Chases, Catches Chain Snatcher and Retrieves Her Mangalsutra (Watch Video)

MaharashtraWho Is Ashima Mittal? IAS Officer from Jaipur Takes Charge as Jalna District Collector

NashikDengue Outbreak in Nashik: Cases Triple in Just One Month After Increase In Rainfall

EntertainmentThree Minors Who Went Missing From Delhi to Meet Salman Khan Found Safe in Nashik After 4 Days

NashikNashik Faces Traffic Chaos as 12 Signals Remain Out of Service Amid Growing Roadworks and Congestion

Nashik Realted Stories

MaharashtraMaharashtra SSC, HSC Supplementary Results 2025 Declared: Here's How to Check Scores Online

NashikToilets in Nashik Civic Body Schools to Be Repaired for Students' Health and Hygiene

NashikSunil Bagul, Mama Rajwade Join BJP in Nashik Ahead of Municipal Elections 2025

NashikTrimbakeshwar Jyotirling Temple Fake Pass Racket Busted: 5 Arrested in Nashik for Black Marketing Online Darshan Passes

NashikNashik: Leopard Spotted Near Abandoned Niphad Sugar Factory, Locals Demand Immediate Action for Safety