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Munnar Real Estate
Munnar, regarded as the heaven of tranquility and peace, is an ideal tourist destination to spend a cozy vacation. With breathtakingly beautiful sceneries and favorable climatic conditions, you can’t find a better place for a summer outing. Located at an altitude of 6000 ft above sea level in the district of Idukki, this place was once called as the summer resort of the British rulers in South India during the colonial days.
Now that we know Munnar is a place filled with nature’s gifts (like sprawling tea plantations, mist-covered mountains, incredibly green rainforests, wildlife sanctuaries, meandering streams), what do you think the condition of real estate is? Munnar real estate is blooming with property rates increasing drastically, especially with its growing popularity as a tourist spot. Farm lands and guest houses are hot-selling Munnar properties, which have suddenly grabbed the attention of investors from Bangalore, Mysore, and other major cities located in close proximities.
Buying property in Munnar may sound a bit complicated if you are a stranger to the place. However, the Munnar real estate agents can help you through the entire process of buying and other legal formalities like registrations and tax payments.
You can invest in villas, flats, cottages and lands for residential purposes.
Residential properties in this area are showing a demand escalation because of the city’s charm. There are people who invest in Munnar properties just to spend their holidays in this place, famous as the Queen of Hill Stations.
If you are interested in commercial properties, you can invest and earn bountifully from resorts, hotels, and commercial cottages, owing to its booming tourist crowd.
You can also invest in estates like tea and spices (cardamom, pepper, cloves, etc) plantations, which are the continually expanding businesses in this place. This has also led to a good scope for additional commercial activities, all of which need commercial land. Thus the demand for Munnar properties is rising high.
Property Rates in Munnar
Munnar property rates are increasing at a good pace. The properties are advancing strategically, in line with the modern architecture. The local development authorities have proved their efficiency with sufficient housing, infrastructure and commercial properties around the place. Let’s take a look at the property rates in different parts of Munnar -
If you wish to buy cardamom plantations in Munnar, a rough area of 60 acres will cost you nothing less than 2 crores.
An 8 cent land in Kallar (10 kms from Munnar) may cost around 20-22 lakhs
If you are planning to build a commercial complex, restaurant, hotel or resort in the heart of the city, then you will have to pay at least 50 lakhs for just 2.5 cents of land.
A 3 acres land at Chithirapuram (around 6 kms from Munnar) may cost around Rs. 60-65 lakhs.
A house built in 2500 square feet land in Devikulam (a famous hill near Munnar) will cost around Rs. 40-45 lakhs.
Top Builders in Munnar Real Estate Market
With Munnar real estate sector escalating at an unbelievable rate, few of the top builders are undertaking several development projects with the assistance of Kerala State Housing Board. Rock1 Builders and Developers is one of the topmost builders in this city with ongoing projects in other parts of Kerala as well.
Home Land Build Estate is yet another famous builder with an ongoing project called Seven Hills, close to Munnar. Investing in this regal residential colony would prove ideal for ensuring a free holiday for rest of your lifetime, and getting great returns over the next few years in terms of capital appreciation too.
Ponneth Builders have also invested in resort projects of this hill station. Chithira Woods Manor, the latest project from this group, is located facing the Adimali-Munnar stretch on National Highway 49.
Investing in Munnar real estate can turn out to be quite profitable in the long run, and frequent travelers from Bangalore are currently investing big amounts in Ooty and Munnar as they’ve seen the growth of the city and have realized that their investments won’t go in vain. If you’ve got money to invest and have never considered investing in Munnar properties, it’s time you gave it a serious thought!
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