As properties in metro cities go beyond the reach of utmost people, smaller cities are coming up as a substitute, for living as well as investing excessive money. Pilgrimage cities have projects extending from small- and mid-sized flats to villas and townships. While locals are buying homes in these townships both as an investment and for personal use, the focus of non-residents is short stays and living after retirement. Though some wealthy professionals in the late 20s and early 30s have also been purchasing ready to move in flats in Haridwar, most consumers are in the middle-age group or young people who want their parents to spend some time in harmony. The advertisement was at first focused on those looking for a second or retirement house. Now, there is good rental demand as well, which is why designers are also introducing rental-focused serviced apartments.
Developers are providing ready-to-move-in flats in Haridwar with all the facilities that a good urban residence can provide. So, without changing the lifestyle, one can live in a calm and serene environment after retirement or during religious visits.
Reasons for Demand for Flats in Haridwar
For dwellers in North India, mainly people from the Delhi-National Capital Region (Delhi-NCR), Haridwar is a weekend getaway destination. This town on the bank of the Ganges also holds an important position on the Hindu pilgrimage map. Closeness to foothills is an added advantage. In emerging localities on the periphery, several local developers are providing apartments in Haridwar near Ganga. Haridwar is expanding. The State Infrastructure and Industrial Development Corporation of Uttrakhand are upgrading a number of areas. Many big companies in the automobile and fast-moving consumer goods sectors also have manufacturing services in the area. Haridwar is also close to the Rajaji National Park. It adds to the attraction of this town. It is better to buy a property in Haridwar with the sole purpose of investment only after assessing your options in the market.
Steady appreciation in property rates
Steady appreciation of property prices has been seen in emerging and established areas across categories, except land. It’s been observed an appreciation of more than three times, over the past two to three years. Due to the increase in the hospitality and tourism industries, over the past two years, Haridwar has seen the biggest jump. Also, the upcoming Maha Kumbh at Haridwar in 2021 raises the demand for Homes for sale in Haridwar. A lot of local developers are providing ready to move in flats in Haridwar.
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