Jammu & Kashmir Property

The northern most Indian state, Jammu & Kashmir is well-known for its scenic beauty and charm. The state shares its border in south with Himalaya Pradesh, with China in both north and east, and lastly in the west, it borders Pakistan.

Jammu and Kashmir real estate market had never been considered to be a safe bet by the big guns in the property markets due to frequent wars and riots. In spite of many holdups that range from the stipulations laid down in the Article 370 of the constitution of India to the unremitting leaning of revolution and terror activities, a good number of investors have shown constantly growing interest in Jammu and Kashmir properties.

Due to its blissful beauty, which is spread everywhere, the state of Jammu and Kashmir has displayed massive potential for the improvement of commercial activities in association with regional tourism industry. Therefore, the commercial giants affianced in hospitality sector have not left even a single chance offered by the local state government.

At present, a well furnished 1 BHK house in the region of Lohna-Palampur is made available with a starting price of Rs. 32 Lakhs. A 2BHK 950 square feet apartment in Kangra Society, situated near Vikas Puri, can be purchased at a price of Rs. 90 Lakhs.

Upcoming Projects in Jammu and Kashmir

With stunning ice covered mountains, gleaming rivers, verdant woods and vivacious lakes, Jammu & Kashmir has a huge scope of attracting people from all around the world, and the state has displayed it effectively. The well-known United Build-Tech Private Limited firm has been reported to come up with a huge residential project in the middle of the Jammu city, and it has been named as “Heritage Apartments”. The total budget of the project is around Rs. 10 crores, and it is coming up with 36 exclusive apartments of varying sizes which would range from 2BHK to 5BHK. It has been regarded as the very first housing company in Jammu and Kashmir private sector. And, it is, certainly, a great opportunity to invest your money in Jammu and Kashmir property markets.

Some notable tourist attractions in this state are Mansar Lake, Gauri Kund, Bahu Fort and Gardens, Purmandal. Travelers have an affinity for places of importance, that include Pari Mahal, Nishat Bagh, Shalimar Bagh, Awantipur, and Martand in Kashmir valley. The regions that are surrounded around all the above mentioned tourists places have a huge scope for real estate industry as they are the best places to construct hotels, resorts, farm houses, shopping malls etc.

Property Price Trends

A 3BHK 1840.00 square feet flat (Price per sq. ft. Rs. 5000 per sq. ft.) located on the Kullu Manali road costs around Rs. 92 Lakhs, while 2BHK flats measuring around 1350-1400 sq. ft. in the area of Kullu Naggar Road are selling in the range of Rs. 68-70 lakhs.

Compared to all other real estate industry’s hot destinations in India, even the fledgling Jammu Kashmir real estate shows similar levels of improvement and potential required for the growth in future; as a result, it is drawing many real estate giants to invest huge assets in the state in the form of their projects.

Since many prominent businesses are very keen on pushing their capital to Jammu and Kashmir property market, it can give a considerable boost to the property market in the state, thereby causing speedy strides in both residential and commercial property.

In the northern part of India, the leading business persons have only three main real estate markets that are Jammu Kashmir real estate, Uttaranchal, and Himachal Pradesh. However, from the real estate perspective, there are only 2 main locations in Himachal Pradesh- Parwanoo and Baddi. Till 2006, Uttaranchal was showing huge potential for real estate activities when compared to the other 2 regions in northern India, but now J&K can’t be counted out either.

The state government of Jammu and Kashmir has taken initiatives to enhance the overall infrastructure and to develop a much improved sanctuary environment. Under major infrastructure developments in the state, many industrial estates are being constructed in order to guarantee accessibility of space for forthcoming industries, and also to bring about improved network of roads.

There are several Jammu Kashmir real estate agents who can assist you in finding the best second home at a fairly reasonable price. Find one for yourself and open up the door to happiness and new-found opportunities.