Nashik, with a population exceeding 1.5 million, is set to see progress on various development projects worth INR 400 crore from the 2024-25 budget. The Nashik Municipal Corporation (NMC) delayed approvals due to the model code of conduct for recent and upcoming elections. With the Lok Sabha and Nashik division teachers' constituency MLC polls concluded, and state assembly elections approaching, the NMC aims to finalize project approvals soon. Projects include upgrades in public works, health, water supply, and town planning, enhancing core infrastructure and services. These developments could boost Nashik's real estate market by increasing property values and attracting new residents and businesses.
Residents of Nashik, a city with a population exceeding 1.5 million, can expect to see progress on various development projects in the city soon. The Nashik Municipal Corporation (NMC) is gearing up to approve proposals worth INR 400 crore allocated in the current financial year's budget (2024-25).
While the budget was passed earlier this year, the approval of specific development projects has been delayed due to the model code of conduct for recent Lok Sabha polls (held between March 16 and June 4) and upcoming Maharashtra state assembly elections. This code restricts government spending on new projects to ensure fairness during elections. With the Nashik division teachers' constituency MLC polls concluding in July and assembly polls potentially happening in October or November, the NMC is now aiming to finalize project approvals within the next one or two months.
The proposed projects encompass various departments, including public works, health (with a budget of over INR 100 crore annually), water supply, and town planning. This suggests a focus on improving core infrastructure and essential services across the city. Residents can expect developments related to roads, sanitation, water supply upgrades potentially reaching 28 nearby villages, and potentially even new parks or community centers.
These upcoming projects could have a positive impact on Nashik's real estate market. Investments in infrastructure and services can lead to a more livable and attractive city. Areas where these projects are concentrated could see an increase in property value and potentially attract new residents or businesses. For those considering buying property in Nashik, keeping an eye on approved development projects, particularly those in the INR 10-20 crore range, can be a helpful strategy.
While the wait for project approvals has been frustrating for some residents, the upcoming approvals signal progress for Nashik's development. The focus on core infrastructure and services suggests a commitment to improving the overall quality of life in the city. These developments, along with potential benefits for the real estate market, offer reasons for optimism about Nashik's future.
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