Meghalaya Property

Meghalaya real estate rates have been on a great path of steady increase and the boom is mainly due to the rise in industrialization in the recent times. The Meghalaya government is concentrating more on the industrialization, thanks to the wide range of human resource availability and better support from the central government. Currently, the state has attracted many companies for bulk investments and Meghalaya properties have gained high appreciation value consequently.

The currently hot-selling Meghalaya properties include industrial lands for setting up factories and professional buildings, as well as some of the upcoming houses and residential complexes that are being set-up to cater to the growing requirements of native residents.

Commercial Pricing Trends

Commercial property prices in Meghalaya have been rising at a rapid pace with the establishment of the Byrnihat Industrial Park with a total investment of 14.50 crores. In addition to this, industrial growth center will get established in the near future with total capital investment of Rs. 18 crores, which is certainly going to boost up the rates.

Prices of commercial properties have risen slowly in the past 6 months, thanks to plenty of development programs run by the government and other private builders.

Since the rates haven’t gone too high, but they are showing very positive signs of good appreciation over the next few months, it may be the ideal time to grab a commercial property in Meghalaya.

Coming to the current pricing, a commercial spot near Laban stop would cost you 25 lakhs. Even rentals aren’t that pricey; commercial shops in and around Shillong will cost you somewhere in the range of Rs. 6000 – 9000 per month.

Shillong industrial estate and others at Mendipathar, Williamnagar, Tura and Jowai, offer adequate infrastructure and industrial sheds for entrepreneurs at nominal rates.

Nongmynsong is yet another hotspot in the Meghalaya real estate sector, after Shillong.

And, to give you an idea about the pricing of bigger commercial establishments, a 5-storey Business Center set up on a land of 2600 sq. feet would cost you in the range of 4-5 crores, while merely the land rates would barely be 50 lakhs or lesser for a property of 2000-2400 sq. ft. in the city center.

Residential Properties and Pricing Trends

The residential real estate segment is worth mentioning in addition to the commercial establishment too; tons of residential flats, cottages, apartments and bungalows are fast coming up in Shillong.

Top realty players have come into picture and the prices of residential properties are increasing day by day. It is expected to get higher and higher in next 6 to 9 months. Since there are quite a few projects coming to Meghalaya, demand hasn’t crossed the supply levels, and you can still invest your money in the upcoming residential areas without shelling out big bucks, and be still assured of good returns.

Residential properties in Meghalaya are characterized by independent houses and charming cottages in the heart of Shillong. You can find tons of typical two to three storied houses as well as commercial complexes. Three bedroom flats in Khanapur, Guwahati cost you about 42 Lakhs, while a 2 BHK flat measuring 1,390 ft² are priced around 35 lakhs. A small 1 BHK flat measuring 700 sq. ft. is usually priced around the 15 lakhs mark.

Prices of houses start at around Rs 20 lakhs, and go up to as high as 40-50 Lakhs.

Upcoming Projects in Meghalaya

Government took the initiative to complete the construction of Parking-cum-Shopping Complex in Shillong through the NBCC

Industrial Corporation of Meghalaya has invested INR. 11.17 crore for 369 enterprises, and it has caused a steady inflow of realty ventures.

Projects by Brahmaputra Constructions including 150 apartments on the Baruah Road are one of the noteworthy ones in the state, at the moment.

Moreover, wide range of residential as well as commercial projects, like Southern Retreat, Riscon Villas, Agrim Residency, Protech Park, Zenith Heights, Uttarayan Greens, Royal Circle, The legacy, are in the pipe-line.

There’s much more than this. Ganeshguri’s Divine Plaza, Paltan Bazar’s Vishal Megamart, Shopping centre at Bhangagarh, Dona Planet multiplex are scheduled to open shortly, which are definitely going to boost up the rates in the Meghalaya real estate sector; so don’t hold back – if you’ve got money to invest, now is the time to do it!