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Despite many limitations, Srinagar real estate market is perfectly on the course of development, while Jammu and Kashmir is still confronting the burden of insurgency. The budding consciousness of the general public headed for progressive trends, and the efforts of local government firms are creating the platform for major development works. It’s all in perfect sync in the beautiful city of natural beauty. As a result, the city is displaying promising signs of expansion in many traditional trades along with developments of other contemporary forms of businesses, including hotels, IT parks, tourisms, and industrial estates. This is an answer to allegations that impugn Srinagar of lack of opportunities.
Completely encircled by many attractive lofty mountains, with beautiful gardens, lakes, rivers, and harmonizing scenery, Srinagar stands tall as one of the best places to invest huge capitals. It offers the best climatic conditions during the summer season. During winters, it provides opportunities to you to engage in many snow-related games, including skiing, which are more than enough to draw tourists’ attention. Moreover, Srinagar has a vivid tradition that has helped it in gaining a special identity in India.
Srinagar beckons investors with the intent to start a business, say a hotel, resort, restaurant or tour-maker. It is a great place to start a hotel or anything that caters to the needs of frequent travelers as well as one-time tourists.
Chief Commercial Projects –
the International Sher-i-Kashmir Conference Complex located on the banks of Dal Lake,
Software Techno Part in the locality of Rangeth electronics complex, and
other business complexes across the city.
The total accessibility to this city is under development, and the general public is developing a lot of trust on the improvement in the city’s overall infrastructure in the days to come. The chain of activities have helped the Srinagar real estate industry to obtain considerable boost as more potential investors take a plunge into the purchase of new properties in the city.
There are many potential locations, which could attract prominent business entrepreneurs from all around the country, and even the foreign investors. In addition to commercial properties, this city also provides a huge scope for residential property development. For many generations, Nagin, Dal, and Anchar lakes are renowned for offering residential choices to thousands of local families.
The city is noticing significant growth in modern housing in the form of apartments, villas, flats, and bungalows. Further, the real estate firms operating in this city offer exceptional services for selling, buying, and also renting residential properties in almost all parts of the city.
Srinagar is also noticing a growing demand in exclusive residential colonies in regions like Zainakot, and Hyderpora.
Folks had predicted that after nearly 15-years of boom, Srinagar real-estate sector would witness stagnation. But, due to shortage of land both in and around the city limits, the economic recovery has clearly convinced that Srinagar property market is not likely to show signs of recession any time sooner. That means, the market isn’t going to end, and the city would continue to thrive on burgeoning business through tourism.
Property Rates Overview
In the newly constructed Rawalpora colony, almost all residential flats are sold at a price above the ‘Rs. 60 lakh’ mark. Even the housing colonies that are built under the state housing board are being marketed at a starting price of well over Rs. 30 lakhs.
If you want to purchase a flat in the Rajbagh area, be prepared to shell out a minimum of Rs. 1 Crore as the base price. Yes, it is that costly! However, if you opt for a flat on the airport road of the city, chances are that the starting price could stand somewhere in the range of Rs. 60 lakhs to Rs. 70 lakhs or more.
It has been reported that SDA (Srinagar Development Authority) has sold a few land spaces in Sanghramal Complex at just over Rs. 23 lakhs per square feet. That’s a colossal figure, isn’t it? But who cares as far as the investment promises huge returns! With an investment in Srinagar real estate, chances are that you are set to rule the market.
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