Why should anyone invest in real estate in Dehradun?
#Real Estate Investment #Indian Real estate
The state capital of Uttarakhand, Dehradun, has quickly developed into a full-fledged city and is performing on par with other hotspots for real estate investments like Cochin and Goa. Due to the challenges of a demand-supply imbalance and rapidly rising real estate prices, Tier II towns are presenting stronger chances and drawing investors’ attention.
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Due to its tranquil surroundings combined with high mountain ranges, recreational, spiritual, religious, and adventure opportunities, Dehradun has always been a well-known tourist destination that draws pilgrims and enthusiasts from all over India. It also has some of the most prestigious educational institutions and has grown in a number of industries, including plastics, FMCG, and pharmaceuticals.
Experts agree that there has been a surge in residential and commercial development since the city was proclaimed the state capital of Uttarakhand. Even though the city was twice rejected from the list of Smart Cities, the real estate market is expanding quickly. The land prices in this area have increased significantly.
Five years ago, a plot may have cost between Rs. 500 and 600 per square foot; today, it would cost between Rs. 1,000 and 1,100 per sq. foot.”The real estate business has grown well in Dehradun,” asserts Abhishek Bansal, Executive Director of Pacific Group. The Indian economy’s astounding rise is the main factor fueling the boom. The rise of malls in the area is linked to the real estate boom. Property and land prices are rising at a healthy rate of 15% to 20%.
Let’s examine the elements that draw both investors and end users to Dehradun as a location for investment:
Vacation home
Given that Dehradun is only 243 kilometers—or six hours—from Delhi, it makes for the perfect weekend getaway location for individuals to unwind and take in the city’s splendour. The city also proposes to be the ideal place to retire and settle down in a green atmosphere. With temperatures ranging from 14 to 28 degrees Celsius throughout the year, the climate is one of the main factors luring investors to the city.
Retail centre
In the centre of Uttarakhand, Dehradun is one of the best-kept real estate and retail secrets. Dehradun is quickly becoming a centre for technology and education. Dehradun is a desirable location for retail and real estate investment due to the city’s growing population and increase in visitors and students. In addition, as more young people move into the city, levels of aspiration, lifestyle, and wealth have increased as a result of their earlier adoption of the newest trends in entertainment, fashion, and technology. Dehradun will soon experience a retail project with the creation of a one-roof retail and entertainment destination mall, in addition to the already existing Indira market, which is the leading shopping destination in the city.
Tourism Spot
Due to geographic advantages, tourism is expanding in Dehradun. Seeing the opportunity, the Mussoorie Dehradun Development Authority (MDDA) is building a tourist destination on Rajpur Road across a 28-acre plot for Rs 10 crore. By erecting a 5-star hotel, a mall, and recreational amenities, MDDA’s Rs 624 crore proposal to develop Greater Dehradun on the Saharanpur-Haridwar bypass also aims to promote tourism. A real estate boom in both business and residential areas is being caused by the expansion of tourism.
Premium developers are present
Dehradun had only planned developments up until this point. There has, however, been a cultural change. Individuals are making investments in residential flats or apartments because they provide greater security and a sense of community. Some of the top developers, like Pacific Group, Panache Valley Group, and Pushpanjali Group, among others, have projects in the city to meet the high demand. According to experts, prices have reached their lowest points and can only go up from here. Local analysts estimate that the city’s average capital costs fall between Rs 3,700 to 5,500 per square foot. According to experts, prices have reached their lowest points and can only go up from here.
Low Rate of interest
Experts claim that Dehradun apartment prices have increased significantly in recent years. Despite the fact that the country’s real estate market has been in decline for the last two to three years, Dehradun’s market has withstood the test of time to record a significant increase in value, according to Bansal. A recent survey indicates that Dehradun’s real estate market is about to experience an explosion in growth and that prices will go up in the near future. Also, it has been listed as the seventh most popular location for real estate investments by NRIs. Thus, there is a very high likelihood of receiving a significant return on investment. Hence, investing in Dehradun is a wise and profitable choice for everyone.
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