Ooty is an awesome hill station famous as the “Queen of hills”, located in the Southern part of India. It has been regarded as the capital of Nilgiris in the state of Tamil Nadu. Also known as Blue Mountains, Nilgiris is one of the well-known tourist locations in India, at the moment. Due to the heavy inflow of tourists, tons of spas, holidays resorts and hotels have come up in the city, leading to a massive explosion in the Ooty real estate sector.

All through the year, one can experience very pleasing climatic conditions in this place. It is an extremely lovely hill station, and the tourists can feel the natural beauty, and spend quality time with near and dear ones, away from the bustling city traffic and pollution. Tourists have even shown interest in buying coffee plantations in the Ooty real estate market, and with growing demands, the prices have been growing steadily too.

During the spring period, Nilgiri Mountains look very colorful amidst appealing climate; while in the winter season, it offers the thrill-chill feel bordered by lofty valleys, tea estates and mountains.

Ooty real estate sector is largely governed by demands of tourists. It has been reported that many Israel-based real estate companies have revealed their interest in the prospering Ooty property markets.

Property Developments in Ooty

Elbit Medical Imaging Limited has recently invested a mammoth amount of around $135 million so as to develop both commercial as well as residential sectors in Ooty.

Additionally, an IT Special Economic Zone (SEZ) has been proposed by TRIL (Tata Realty and Infrastructure Limited) in association with the TIDCO (Tamil Nadu Industrial Development Corporation) in a place known as Taramani. It is expected to include a modern and well-sophisticated 5 star hotel, service apartments and an International standard Convention Centre. Therefore, if you want to invest in a piece of land, it’s a great time since the land prices are bound to increase manifolds over the next 5years.

Property Prices in Ooty

Currently, if you look for a small flat on the Ooty Conoor road, it would cost you somewhere around 15-20 lakhs for about 1000 sq. ft. built up area.

If you’re looking for a Bungalow in Ooty town, of say 1500-2000sq-ft dimensions, the prices can be vary from 50 lakhs to 60 lakhs.

Witnessing the growing trajectory of residential properties in the region, people from affluent class of the society, and even people from both upper-middle and middle class are planning to own a second home in Ooty so that they can enjoy their vacations amidsst the scenic beauty of Blue Mountains. Hopefully, the cost of a Bungalow would touch the 1 Crore mark over the next 3-4 years.

Moreover, the growing prosperity among local residents has also encouraged many of the Ooty property developers to invest hefty capitals in the briskly developing Ooty properties. There are many realtors and property owners who are vigilantly observing the fluctuating pricing trends and growing demands of residential properties, so as to take full advantage of the present scenario.

Ooty has been the most preferred tourist spot in the entire territory of Southern India since a very long time. Its scenic beauty, the plush green surroundings, the high mountains appeal to people from all over the place throughout the year. The growing popularity has led to considerable growth of the Ooty real estate industry in recent times.

With the arrival of a huge number of educational institutions, business centers, shopping arcades, hospitals and banks, the property prices in Ooty have seen a considerable hike. The astounding upsurge in the quantity of residential units in the place can be attributed to the efforts put forth by the local government authorities as well as real estate builder in the city.

The residential properties are available on rent in many forms including flats, guest houses, apartments, farmhouses, bungalows, cottages etc. There is a huge demand for commercial properties in the region, especially during the peak tourism seasons.

As a result, Ooty property market is developing at an unparalleled growing rate with many ongoing and upcoming projects from some of the leading real estate builders operating in India.

Where to Invest?

Potential of realty market in Ketti hasn’t been tapped quite yet. It still leaves you with a benefit if you can invest about 10 lakhs today and watch it grow to well over 20-25lakhs pretty soon for the prices are below 10 lakh per 10 cents at the moment.

Over the past few years, the property prices in Ooty are esclating due to the developments in real estate activities, and also its close proximity to the Bangalore, the Silicon Valley of India.

So, if you have any plans of building a second home, then Ooty would be one of the best choices, where you can enjoy a peaceful stay after retirement. Speaking commercially, you can obtain huge profits over the next few years by investing in areas like Conoor, Ketti, Wellington and Kotagiri.

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