Are you looking for an investment opportunity that combines the benefits of a holy place and real estate potential? If yes, then do not look any further, as Haridwar is the perfect place for you. As a pilgrim city, it has garnered a lot of tourists and also caught the eye of savvy investors due to its booming real estate market potential. Let’s explore the different benefits and other requirements that need to be considered before buying land in Haridwar.
Why should you buy land in Haridwar?
Prime Location
The strategic location of Haridwar makes it a prime location for investors who are planning to purchase land in Uttarakhand, as it is close to major towns such as Rishikesh, Delhi, and Dehradun. It offers easy accessibility to these towns by efficient road and railway systems.
Growing Demand for Land
The demand for land is increasing day by day as the number of tourists is also increasing. Also, the fast development of infrastructure which includes residential, commercial, and industrial has also contributed to the growing interest from real estate investors. You might also want to explore some of the latest projects in Haridwar that cater to this increasing demand.
Higher Return on Investment
With Haridwar’s spiritual significance and close proximity to other cities the land prices have steadily increased over time. Investing in land in Haridwar offers the potential for higher returns to investors making it an ideal opportunity for them.
Types of Land available in Haridwar
Haridwar offers diverse lands catering to different types of investors. The types of land available for investment are given below:
Residential Land
As the city is going through rapid urbanization, it is becoming a preferred location as a weekend home for many people and tourists seeking to visit the spiritual sites. This gives a lucrative opportunity to investors to invest in villas, apartments, and gated communities to capitalize on the growing interest in peaceful and spiritual living. You can consider luxury flats in Haridwar under Haridwar One Project by ETH Infra, as your next dream home.
Agricultural Land
While there are some legal restrictions on buying agricultural land for non-agricultural purposes, the land can be ideal for agro-related industries or organic farming ventures. This is a good opportunity for investors looking to acquire agricultural land in Haridwar, as it has good development prospects.
Commercial Land
Strategically located near the sacred sites, markets, and other developing zones, it is becoming a preferred location for investors for commercial uses such as hotels, resorts and retail spaces. This can prove to be a profitable opportunity for investors as Haridwar witnesses a heavy flow of tourists all year round.
Industrial Land
Haridwar is close to SIIDCUL (State Infrastructure & Industrial Development Corporation Uttarakhand Ltd), which has many industrial plots in the area for manufacturing units and warehousing, which can be a great investment option for investors.
Legal Considerations Before Buying Land in Haridwar
Land use and zoning laws
Purchasing plots in haridwar can be a rewarding investment but it is essential to understand the local land laws. The land use indicates how the land can be used for residential, commercial, industrial, and agricultural purposes.
Verify ownership
Before investing in land in Haridwar you need to verify the ownership and check the title of the land so that there are no disputes or fraudulent claims. You can consult some legal experts to avoid any potential complications.
Encumbrance check
This check is done to make sure that the land does not have any legal liabilities such as outstanding loans, Occupancy certificate, mortgages, etc. You can do this by obtaining an encumbrance certificate from the sub-registrar’s office.
Government approvals
Securing the necessary government approvals from the local authorities such as Haridwar-Roorkee Development Authority (HRDA) which is important to legalize the land purchase. Moreover, Haridwar Development Authority Plots are in high demand due to their affordability and convenice.
Steps to Purchase Land in Haridwar
Thorough research
Conducting a thorough research on location, market trends, and future development is a crucial step before purchasing land in Haridwar. You can assess the prices by comparison and evaluating the potential of high return on your investment.
Verify legal documents
As we have discussed above, it is imperative to verify the legal documents and other legal considerations as Sale Deed to ensure the land you are buying is free from all disputes and has a legitimate title.
Payment process
Understand the payment process thoroughly before investing which typically includes down payment, registration charges, IDC and EDC charges, stamp duty, and other charges. Get the breakdown of all costs so that the payments are done in a transparent manner.
Conclusion
Investing in a small land in Haridwar is a promising option as it combines the benefits of living in a spiritual city with modern amenities. The growing demand in the real estate market has made it a hotspot for investors due to the potential for high returns.
If you’re considering a relaxing getaway or a vacation home, be sure to look into Uttarakhand holiday homes, which can enhance your investment portfolio. Make sure that the property is not attached to any disputes or fraudulent claims to reap the benefits of investing in this spiritual city.
FAQs
What are the key benefits of investing in land in Haridwar?
Investing in Haridwar offers the unique combination of spiritual significance and increasing property values. The city’s close proximity to major towns like Rishikesh and Delhi, coupled with its growing tourism and infrastructure development, makes it a lucrative real estate investment opportunity.
Can outsiders purchase land in Haridwar?
Yes, outsiders can purchase residential, commercial, and industrial land in Haridwar, but they must adhere to local land use regulations. Agricultural land has restrictions for non-agricultural purposes, which may require specific legal permissions.
What types of land are available for investment in Haridwar?
The types of land available include residential plots for homes or villas, commercial plots for hotels, shops, or retail spaces, and industrial plots near areas like SIIDCUL for warehousing and manufacturing. Agricultural land is also available but is subject to specific legal guidelines.
What legal checks should be done before buying land in Haridwar?
Buyers should perform an ownership and title verification, ensure there are no encumbrances on the property, and obtain all necessary government approvals from bodies like the Haridwar Development Authority (HDA).
Are there zoning restrictions in Haridwar?
Yes, zoning laws dictate how the land can be used, whether for residential, commercial, agricultural, or industrial purposes. Understanding the zoning rules is essential before any investment.
How does one check if a property has legal liabilities?
You can conduct an encumbrance check through the sub-registrar’s office to ensure the land does not have any mortgages, loans, or legal issues.
What is the process for purchasing land in Haridwar?
The process includes conducting market research, verifying legal documents, obtaining necessary government approvals, and understanding the payment process, including costs like registration charges and stamp duty.
Can NRIs purchase land in Haridwar?
Yes, NRIs can purchase residential and commercial land in Haridwar. However, they must follow specific regulations and may require certain documents, such as a copy of their OCI/PIO card if applicable.
Is investing in commercial land in Haridwar profitable?
Yes, commercial land investments, especially near tourist sites and markets, can be highly profitable due to the continuous influx of tourists, offering opportunities for hotels, retail spaces, and other businesses.
What are the current real estate trends in Haridwar?
The demand for residential, commercial, and industrial properties is rising due to urbanization, tourism, and industrial development, which contribute to steadily increasing property values in Haridwar.
