Dadar and Nagar Haveli is an ex-Portuguese territory that presently comprises of 72 villages, and it was included in the Indian Union way back in 1961. Situated 30 km. away from the western coast, it lies to the north of Gujarat and south of Maharashtra. This small union territory has just a net population of 2.2 lakhs, out of which 80% are the tribal folks. In spite of this, the region has witnessed a steady economic growth over the last few years. Another advantage is that it enjoys close proximity to commercial centers like Surat (140 km. away), and Mumbai (180 km. away).
Real Estate Business is dominated by Commercial Operations
When we look at the Dadar and Nagar Haveli real estate sector, it is pre-dominantly a commercial sector that has witnessed immense growth in the last few years.
The establishments of three different industrial estates in Khadoli, Masat and Amli have been the biggest projects in the territory. Another 2 major cooperative estates are under progress in the Amli region. The plans made by the authorities in the region also include another 1300 hectares of land for commercial properties. All this development collectively has boosted the Dadra & Nagar Haveli property values, and has forced the realtors and investors to open their eyes to this fresh market.
Investing Opportunities
There are a few more reasons as to why the big corporate players have chosen to move into the region of Dadar and Nagar Haveli; the most important of them being tax-free DNH that lures the customers; and since the all the union territories are considered as industrially backward areas, the companies that move in get cash subsidies which can be as colossal as 25%.
This was the case with the UT till 1988, and, therefore, many MNCs and entrepreneurs grabbed the chance at that time. However, as per the latest announcement, tax exemption is valid only till the year 2017 which has discouraged those who were planning to set up their operations in this Union territory.
Infrastructure is Improving Rapidly
Thanks to such benefits, the region is home to big companies like Gulf Oil India Ltd, Indian Oil Corporation, H.L.L. Ltd., Silvassa Industries Ltd., Parasrampuria Industries Ltd., Filatex, Sterlite Industries, Sterlite Optical Fibres, Bluestar, Tainwala Chemicals and Plastics, Precision Wires and many more. Apart from these big players, there are countless other firms operating in segments like plastics, telecom, textile, and paper industries. Looking at the splendid rate at which the region is industrializing, local authorities have laid down plans to construct a better transportation network and also to widen the existing roadways.
Apart from all the commercial growth in Dadar and Nagar Haveli there is also an immense scope for development of residential complexes, especially villas and farmhouses. The Dadra & Nagar Haveli property rates have also shot up in the last few years as the lush green fields and forest, serene countryside, beautiful waterfronts and rivers have already attracted many hoteliers. Today, we see many start hotels and resorts in and around the region of Silvassa, but still the competition is almost nil.
Property Prices
Let us look at some of the current price trends in the residential sector. Renting an apartment in Amli can be an affordable deal, while it can get pretty expensive in regions around Silvassa. A 1300 sq. ft. 3 BHK apartment can be rented at Rs. 6,500 to Rs. 8,000, while a similar apartment in Silvassa can cost you over Rs. 10,000 per month. A bigger apartment of around 1700 square feet in the heart of Silvassa can cost as high as Rs. 15,000/month.
As discussed earlier, the boom in Dadar and Nagar Haveli real estate market has affected the industrial and commercial sector the most. An industrial plot of around 3000 square feet in Amli can fetch monthly rentals of Rs. 45,000; needless to say, things start getting costlier as you move closer to Silvassa. You can also find a ready-made factory space for small time industrial start-ups in and around the capital city, very comfortably. A 4000 square feet of factory space in Silvassa would fetch you approximately Rs. 55,000 of monthly rent, so you may want to invest in a similar property if you’re looking forward to enjoying high monthly rentals.
Before Dadra & Nagar Haveli property rates go a tad higher, it would only be smart to invest in this terrific investment spot only if you are looking forward to establishing an industrial set-up, or if you want to make a commercial complex. However, even if you just want to buy a holiday home, Dadar & Nagar Haveli real estate sector seems like a good bet.
