Jammu and Kashmir Real Estate

Jammu and Kashmir, known for its sheer beauty and enchantment, is the northern most state of India. The state shares a border with Himachal Pradesh (India) to the south, Pakistan to the west, and People’s Republic of China to the north and the east.

Embracing beautiful ice capped mountains, verdant woods, gleaming rivers and vivacious lakes, the state is one of the most sought after tourist destinations. Some important attractions in Jammu are Bahu Fort & Gardens, Gauri Kund, Mansar Lake, Purmandal and toursists love to visit Shalimar Bagh, Nishat Bagh, Chashma Shahi, Pari Mahal, Martand, Awantipur in Kashmir valley.

Using the upcoming property markets as an example with which to compare Jammu & Kashmir fledgling real estate sector, it too predicted similar levels of growth initially. As prominent businessmen are apprehensive of putting their money in the state, this can give a boost to the property market here thereby bringing rapid strides in both commercial property and residential property.

These business persons see Uttranchal, Jammu & Kashmir, and Himachal Pradesh as three available choices. Himachal Pradesh only has locations like Baddi and Parwanoo to offer, where, because of the hilly terrain, setting up large production units is a little difficult. However, Uttarakhand (known as Uttaranchal from 2000 to 2006) seems to be leading till now.

The Government of Jammu and Kashmir is taking initiatives to bring improvements in the state’s infrastructure and to create an improved security environment. Under major infrastructure development, industrial estates are being developed to ensure availability of space for upcoming industries and encouragement of better network of roads. Also, the upgradation work of the Jammu-Srinagar Highway is in progress. Investments are also encouraged to develop more urban facilities in the capitals of Srinagar and Jammu.

Rehabilitation of existing infrastructure facilities will also be taken care of with the help of a project named as ‘The Multi-sector Project for Infrastructure Rehabilitation in Jammu and Kashmir (J&K) in India’, which envisages to re-construct about 1500 km of roads and 80 bridges damaged over the past fifteen years, located 14 districts of the state.

In addition, this multi sector project will also finance the rehabilitation of water supply and drainage system in two major cities in Jammu & Kashmir. These cities are no other than Srinagar and Jammu. Five sample sub projects (representing typical technical, environmental, and social conditions of the Project) had been selected for the development of two road sections, a bridge, one water supply facility and one drainage system.

All these development activities are believed to give a puffy boost to real estate in Jammu & Kashmir thereby crating large prospects for prospective investors.

Upcoming Projects in Jammu & Kashmir

Click Map of Jammu n Kashmir
to Enlarge View

United Build Tech Private Ltd is coming up with a residential project in the heart of Jammu. Titled as ‘Heritage Apartments’, it is a Rs10-crore project which will take up the construction of 36 exclusive apartments of different sizes, ranging from two bedroom to five bedrooms.

This firm is believed to be the first housing company in the private sector in Jammu and Kashmir. Interestingly, 80 per cent of the apartments have already been sold since the booking has started.

The company seems to have paved the way for other prominent builders who are thinking to establish their presence in the beautiful state of Jammu & Kashmir.