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Present real estate market in Dehradun
Dehradun is famous as a tourist destination but the real estate of the city is also expanding to great lengths. The city is well developed now and is the capital city of the state Uttarakhand. The city is ideally a tourist spot as it offers several scenic landscapes but the real estate market is growing in Dehradun there are famous schools and pharmaceuticals, plastic and FMCG industries that are based in this city. The residential and commercial buildings in Dehradun are rapidly expanding. There are many Indians and NRIs who are investing to buy houses in this city. The rates of property in Dehradun have seen an increase in 15% to 20%. Dehradun is just 6 hours away from Delhi with a distance of 243 km. There are many Delhi residents who buy property in Dehradun and go there to spend a weekend or more. There are many retired people who have started living in this city and many send their children to study in the famous schools that are located in Dehradun and then they settle there for their children. The place is ideal for a quick getaway from the chaos of the Delhi city.
Dehradun is also expanding itself economically and commercially. From being just a famous hill station, it has transformed itself into a city that can meet the needs of a modern resident. There are plenty of shopping malls, movie theatres, schools, colleges, hospitals and if one decides to live here one will get all the facilities that are available in metro cities. The pollution of this city is less and many also buy houses and often come to stay here keeping in mind their health. In Dehradun there are many renowned developers like Pacific Group, the Panache Group who construct good houses. Usually, the homes constructed by them are a bit on the steeper lever but there are many Indians and also NRIs who are buying these posh houses for residing in this city.
Some of the posh localities of Dehradun are:
- Indira Nagar, near Seem Dwar
- Nehru colony
- Rajpur Road
- Chakrata Road
- IT Park
- Canal Road
- Patel Nagar
- GMS Road
- Turner Road
- Maharani Bhagh
The experts predict Dehradun’s real estate market that the prices will be forever increasing instead of coming down. In the past two-three years, it has been noted that the real estate market for many major cities have declined but strangely the real estate market for Dehradun is forever expanding. In the future, the real estate market of this city is predicted to explode. This city is ranked fifth by the NRIs as the most preferable destination to make real estate investments. People who will invest in real estate today will only make gains if they wish to resell the property after a few years. Thus investing in this city for both NRI and Indian citizens is lucrative.
Real Estate Market in Jabalpur
Indian cities are presently divided between Tier 1, Tier 2 and Tier 3 cities. The categorization is based on house rent allowance and also population-wise. However in this article, the tier categorization will be based on house rent allowance. The city Jabalpur is a part of Madhya Pradesh state and is a part of Tier 2. Thus meaning that this city is not as well developed compared to cities like Bangalore, Delhi, Kolkata, who belong to Tier 1 but is rapidly expanding in all ways like economic, social, labour, population, urbanization.
Jabalpur is a major education hub in the country and there are many Indians from other parts of the country who come to study and then even settle down in Jabalpur. The rates of property in Jabalpur are presently not too high but experts predict that the city is expanding at a great pace and investment done by NRIs or Indian residents for property in Jabalpur will be fruitful. It has been notes that there is a great demand for residential properties in Jabalpur in the past few years. There are many real estate developers who are constructing different kinds of homes both posh and simple keeping in mind the resident’s demand. The prices fluctuate according to the locality, the size of the home and the amenities provided by the developers to its buyers. Apart from residential properties, there are several commercial buildings being developed for office, business centers, commercial shops and boutiques and much more.
The homes that the developers are building in certain localities like O.F. Khamaria, Ganjipura, Pachpedi, Katni, Russel Chowk, Tilwara, Panagar, Napier Town, Mandla Road, Vijay Nagar, Barela, Majholi, South Civil Lanes and many more. Today one can find easily 3 to 5 BHK homes as well as houses for rent too. The price for 3 BHK to 5 BHK apartments in good localities range between Rs 16 lakhs to Rs 10 crore. There are many Indian residents as well as NRIs who spend a great amount of money to build a luxurious villa or individual homes which provide several amenities. Presently there are many NRIs who are investing in this city and many big reality developers are now developing homes as per their customer’s choice.
Similarities between the real estate market of Dehradun and Jabalpur
There are several similarities between the Dehradun Real Estate and Jabalpur Real Estate. Both the cities are presently developing and the price of the properties are still not that high and the experts have predicted for both the cities that the price is expected to rise in the coming years and it will be a wise option if one is thinking of buying flats or individual apartments in these cities. There are almost nil chances to incur any losses rather one will in great profitable position if one this of reselling their apartments after a few years, they are bound to get much more money than they have invested.