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Real estate firms in India have now begun to show more faith in targeting the pilgrimage areas. Yes, the cities which are well-known as temple towns in India, including Rishikesh, Haridwar, Tirupati, Shirdi, Mathura, and likes of them, are now witnessing tremendous real estate growth.
Rishikesh property rates have gone up by significant proportions in the last few years, but the city still has a great potential that can be tapped further. The builders and real-estate companies have found out that many pure-play investors are showing a lot of interest in these cities; no wonder the Rishikesh real estate market has been experiencing a healthy growth, off-late.
Rishikesh – An Overview
Rishikesh is a religious city, situated on the banks of the holy river Ganges. It is located just 25 kilometers away from Haridwar, and all pilgrims can experience an aura of divinity and the divine chants of mantras in its spellbinding and sublime air.
Salubrious climate, religious identity and many available scenic places have been always compelling to the huge number of tourists that flock to this holy city all through the year from different parts of the nation. This city is visited by huge number of NRIs on regular basis, and a large number of them would even wish to own a piece of property in Rishikesh so as to construct a second home there. This is yet another reason behind the improvement of real estate sector in the city.
Upcoming Projects in the Rishikesh
Rishikesh property rates are rising in tandem with the improvements in the several real-estate businesses in the city. Many builders and real-estate developers have been able to sense the future demands for residential properties and, accordingly, they are coming up with several new construction projects; while some of them are in pipelines, there are others that will soon be materialized.
Delhi-based AEZ Group is one of the most prominent builders operating in the Rishikesh property market. It is presently into development of the most luxurious as well as pricey residential township in Rishikesh – the “Aloha”. The residential space for building flats in this township is made available at a sky high rate of Rs. 4000 per square feet.
Following the Delhi-based AEZ Group, Rishikesh real estate market is witnessing the advent of many other strong players, including BK Associates, Aradhana Group, Shiv Ganga Group, Tarika Group, and the likes of them. All the mentioned builders are coming up with tons of new residential projects, so you can surely expect to see a steep increase in the Rishikesh property market prices.
Aradhana Group has 2-main projects in their hands, including Ganga Vatika I and II in channel, while BK Associates are working on a new project which has been named as Rishi Avenue. By observing the interest shown by all these developers, you can expect many more projects of analogous nature in the near future.
Future Plans of Uttaranchal Development Authority Will Help Too!
Apart from all these private property developers, government agencies, including Uttaranchal Development Authority, are also concentrating towards the improvement of residential properties in the city. Shiv Ganga and Tarika builders are also framing out many plans for providing Holy Township, which is expected to offer modern homes with a charming sight of the mountains.
Although it is too easy to find many new apartments for sale in this place, it is not a simple affair for an outsider to purchase lands or plots in the city because of the rigorous approval norms set by the government.
Remember, a blind investment always goes in vain, irrespective of the city or state it is made in; a smart investment always fetches great returns! So, if you’re not aware of the right areas in Rishikesh property market that possess good potential to fetch you greater returns in the long run, you won’t be able to make too much out of whatever little you invest, unless you’re a big player in the real estate sector.
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