PM’s promise to make Varanasi ‘smart city’ brings it to realty forefront
India’s oldest town Varanasi is apparently on the verge of becoming a realty hotspot, with Prime Minister Narendra Modi having promised to turn the town into a ‘smart city’
Modi’s decision has set the real estate activity rolling in the Varanasi town. Some realty consultants have already started getting enquiry calls about the land prices in the town as well as about potential deals.
According to the details shared by property brokers, the prices of land in and around Varanasi have are witnessing an increase, as builders and investors look to create land banks.
With regard to the increasing land prices in Varanasi and its vicinity, property brokers have revealed that, three months back, one biswa (1,360 sq ft) of land in areas like Mohan Sarai on Varanasi’s outskirts was priced at Rs 12 lakh; but the cost has now leaped to Rs 15 lakh.
Since Varanasi is currently on the verge of a development scenario, investors and moneyed people from UP, Bihar, and Haryana are reportedly searching for land on the outskirts, expecting to sell it for a profit to property developers and hoteliers.
Moreover, with Modi signing a deal with Shinzo Abe to have Kyoto as a partner in Varanasi’s development, Varanasi has recently become ‘the talk of the town’ in the realty arena.
Source – The Economic Times
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