It’s due to the emotional aspect that a surprising trend has embarked amongst the property buyers. There are a number of diverse property buyers who have diverse needs and thus the hurdles experienced by them are also varied. However, the emotional needs of the property buyers are to purchase a property that offers a serene view for feeling rejuvenated and fresh.
No matter whether it’s your 2nd property or a 3rd one, purchasing a property in Haridwar is an important decision that includes a huge investment. Even though the most important factor i.e. emotion still remains the same.
The previous trend used to be low cost within the limits of the city and the property buyer had to compromise with the basic amenities. But, now the whole scenario has changed. By purchasing a 2BHK property in Haridwar, you will get access to all the modern basic amenities which will help you lead a contemporary life. All the amenities comprise shopping malls, connectivity, hospitals, schools, colleges, etc.
Haridwar is expanding and even the mindset of property buyers is expanding. They are now ready to go for better spaces beyond the pre-defined limits of the city and purchase good properties at serene locations which have fresh surroundings as well as the environment. This latest trend is now boosting the growth of the real estate sector in Haridwar. The real-estate developers have now started a number of projects with good green space and a luxurious lifestyle which was way beyond the imagination of the property buyers a couple of years ago.
Benefits of buying a property in Haridwar
1. State regulations are in favour of the buyers
Haridwar is inviting a lot of investments from buyers from the other states also. The Uttarakhand Government has very clearly spelled the restrictions of buying properties for the people who reside outside the state. There are absolutely no restrictions regarding the size of the plot/property if someone is purchasing a property within the municipal limits of the city. However, according to the rules, an individual can purchase just 250 square meters of agricultural land which is outside the city. This also signifies that 2 to 3 people belonging to the same family may purchase a co-joined, separate 250 square meters of land. However, in case the Agri land is located within the limits of the city, one needs to comply with the Land Ceiling Act of the state.
2. Multiple options
The whole region has been developed as a vacation cum residential destination with options for different types of buyers. The new-age buyers who are willing to spend on a second home are attracted particularly to this region.
3. Steady appreciation in the rates of the property
Developing and the areas which are established have experienced steady appreciation in the prices of property across different categories, except the land. A lot of appreciation has been witnessed in the past 2-3 years. According to the real estate brokers in Haridwar, the region has seen a huge jump in the process in the past few years because of a rise in the tourism and hospitality industry.
4. Freehold properties
All the developments throughout the state are offered in the form of freehold properties where the mutation as well as the transfer of properties is very easy and has hassle-free paperwork. This helps in making the process of registration of properties very easy for the new property owners.
5. Leasehold model
With a number of hospitality chains now making their way to the market, the rents of the rooms are also going up prominently. Therefore, various second home investors and property buyers are now looking at these properties as a source of income.