Thursday, June 7, 2018

Why owning a Property in Haridwar is profitable?

Pilgrimage tourism has seen a steady spike for some years now and builders and hotel chains are lining up at holy destinations to cash in on this trend. The land is still available at cheaper rates compared to metros and with the rapid improvement of infrastructure, such destinations are seeing a rising demand from both investors and buyers. The holy cities provide the perfect opportunity to combine spiritual needs with a long-term investment decision. 1bhk flats in Haridwar are the prime example of this trend.

Flat in Bhupatwala

The city has always been an extremely important pilgrimage site for Hindus and sees a steady stream of tourists throughout the year. According to statistics a minimum of 2-3 lakh tourists visit the city every month and the numbers go up to anywhere between 25-30 lakhs or more during certain times of the year. The Ardh Kumbh and the Kumbh Mela see humongous crowds. Quality accommodation at reasonable rates is limited. So investing in a good residential property near Shanti Kunj at Haridwar makes a lot of sense for the regular visitor.

Many such travelers have arrangements with their ashrams, but for more and more people investing in the flats in Motichur, Haridwar has become a necessity.
The demand for quality housing is making a considerable impact on prices and rates which are seeing a steady rise. Big builders are already making their presence felt and investing now could make a smaller dent in the pocket than in the not so distant future.

Another vital factor which is pushing up the demand and the prices of single bedroom flats in Haridwar, is the proximity and easy accessibility to the major cities of Delhi, Chandigarh and Dehradun. The hill stations of Rishikesh, Mussoorie, and Ranikhet are also well connected to Haridwar.

Add to this the industrial development in the surrounding regions and the upcoming SEZ’s are likely to push the prices further.

Deluxe apartments in Haridwar

A big draw for investors is the likelihood of rental income. If the investment is made with the view of purely financial returns then an important factor in choosing a location which is close or at least well connected to important sites such as 1BHK near Har Ki Pauri and the important ashrams. However, if the investment is more in terms of having a personal residential space then one should go for a location away from the crowds.

So whichever way you look at it, investing in a property in Haridwar is a move which will definitely reap rich dividends in future.

1 comment:

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