Doon valley prepares for realty rally
Uttarakh
and has always been among the top destinations on buyer’s wish list and the property market has witnessed a dream run in the past. The recent natural calamities in the state are to an extent responsible for an overall slowdown in the real estate sector.
As per the market watchers, there has been an overall fall of 35 percent in the real estate market and very few buyers are in the market despite the launch of several new projects in the state.
Mr. D.S Rawat, National Secretary of the Associated Chambers of Commerce and Industry of India (ASSOCHAM), says that property transactions have been affected due to the slowdown that has been noticed throughout the countries.
The destructive floods in last year state are responsible for migration of people from these regions to the lower pockets in the state. A large number of people are interested in shifting to Dehradun and the adjoining areas of Rishikesh and Hardwar and Udham Singh Nagar. This is raising the demand for housing sector in last few months.
Destinations and trends
The market is currently driven by the end users as migrants from higher regions as well as buyers from Delhi and other parts of the country are looking for residential properties in the Doon valley and the hill stations of Mukteshwar, Nainital and Chaukhutia (Almora).
The local requirement is completed by the local developers who are fast to understand the need of customers. In last few years, nearly 50 projects have been approved in Dehradun and most of these sanctioned projects are located near Sahastradhara falls and Rajpur Road.
Mr. Nazia Izuddin, President of S.N Group, says that Dehradun real estate market is dynamic and presents the investment opportunities in the realty sector which have not been tapped thoroughly.
Gathering momentum
The cost of commercial and residential properties in Dehradun and Mussoorie has already increased as big players like Parsvnath, Ansals and DLF looking for land parcels in these tourist attractions.
There are so many reasons that make Dehradun ideal for real estate investor. The city is close to Delhi and NCR region as compared with other regions of the state.
Source: The Tribune
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