Automobile and real estate markets in Nashik get a festive boost

The city of Nashik in Maharashtra has witnessed a surge in the sales of automobiles and real estate properties during the auspicious days of Dhanteras and Lakshmi Pujan. Both the sectors are hopeful that the brisk business will continue on Diwali Padwa and Bhaubeej, which will be celebrated on Tuesday and Wednesday, respectively.

Dhanteras, also known as Dhanatrayodashi, is observed on the thirteenth lunar day of Krishna Paksha in the Ashvin or Kartika month of the Hindu calendar. This year, it was celebrated on Friday, November 10. On this day, devotees pay homage to Lord Kuber and Goddess Lakshmi, the Hindu deities of prosperity and wealth. It is believed that making significant purchases on this day will bring in blessings and wealth in one’s life. It marks the beginning of the five-day Diwali festival, which ends on Bhai dooj.

Automobile and real estate markets in Nashik get a festive boost
Automobile and real estate markets in Nashik get a festive boost

Lakshmi Pujan is performed on the night of Amavasya, the new moon day, which falls on Sunday, November 12 this year. On this day, devotees worship Goddess Lakshmi and seek her blessings for success, happiness and abundance. They also light diyas, candles and lamps to welcome the goddess into their homes and businesses.

Automobile sector registers impressive sales

According to the dealers in the automobile industry, around 600 cars worth Rs 60 crore were sold on Dhanteras and Lakshmi Pujan. Moreover, dealers are also expecting more sales in the next two-three festive days. The response was good for the two-wheelers as well. As per data available, around 2,500 two-wheelers worth over Rs 20 crore were sold since Friday.

Bipin Bataviya, director of a two-wheeler showroom, said that they had a feeling that the business would not be good this Diwali because of the drought-like situation in the district and drop in tomato and vegetable prices. However, the response was great on Dhanteras and Lakshmi Pujan. He also said that banks and financial institutes were helping the cause by quick approval and disbursal of loans. He stated that they were expecting around 20% growth in business this Diwali as compared to the business during the same period last year.

Real estate sector also receives a boost

The real estate sector has also received a boost in the last two days. According to Jayesh Thakkar, vice-president of The National Real Estate Development Council (Naredco), around 200 flats worth Rs 80 crore have been booked between Dhanteras and Lakshmi Pujan. He said that the mood had been positive in the real estate sector since Dasara. Around 700 apartments worth Rs 280 crore have been booked during this period.

He also said that the demand had shifted towards higher price brackets, as people were looking for spacious and luxurious homes. He attributed this to the low interest rates, attractive offers and discounts, and the stamp duty waiver by the state government. He said that the real estate sector was expecting to recover from the losses caused by the Covid-19 pandemic and the lockdowns.

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