Uttarakhand Real Estate – Moving Towards the Best

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Uttarakhand — The “Land of God” (known as Uttaranchal from 2000 to 2006) is one of the most beautiful and enchanting states of northern India. Blessed with breathtaking natural beauty, rivers and many mountains, this state has been the heaven for people seeking solace in spirituality and a paradise for adventure lovers.Nestled in the Himalayas, Uttarakhand mainly depends upon its tourism industry that generates huge revenues for its economy. There is no dearth of tourist hot-spots in Uttarakhand. For everyone, there is some place to visit whether you are interested in pilgrimage, spirituality and adventure sports or camping.The tourist places that are hit with visitors are Dehradun, Nainital, Almora, Uttarkashi, Chamoli, Rudraprayag, Haridwar and Tehri Garhwal.

But with the recent real estate boom in India, even Uttarakhand is swarmed by dozens of real estate builders, who want to encash on the vast natural beauty of the state.

Most real estate builders have already come up with various theme townships in the state. Though, commercial and residential properties in major locations like Dehradun and Mussoorie have already shot up with big players like Parsvnath, Ansals and DLF looking for land in these tourist attractions.

Mushrooming of the malls in cities like Dehradun, Mussoorie and Nainital have raised the bar for land prices in these cities to almost fifty times in some cases.

Anticipating further rise in the price for residential and commercial properties in Uttarakhand, major and smaller real estate developers are jostling hard to grab the land at the earliest before rates move up.

Property developers can measure the potential of Uttarakhand real estate industry from the mere fact that a small hilly town like Rudrapur has attracted a whopping $2 billion investment its real estate sector.

Rudrapur is considered to be the next lucrative destination for property investment and overseas real estate developers. What could entice the both to sell their properties and to buy land in Rudrapur is the soaring property rates that have gone up by 10-12 times in the last one year.

Upcoming Property Projects in Uttarakhand (Uttaranchal)

Click Map of Uttarakhand to Enlarge View

Many cities of Uttarakhand are witnessing some or other real estate projects coming up or being sanctioned by the government.

India Inc. is pumping in well over $2 billion in the Pantnagar Integrated Industrial Estate on the outskirts of Rudrapur.

In the last two years, 397 plots have been sold at Rudrapur to set up industrial units. The companies that have bought properties are Tata Motors, Bajaj Auto, Escorts, Voltas, Britannia, Nestle, Parle Biscuits, HCL, Hewlett-Packard, Dabur and Kores India.

Where as, automobile major Ashok Leyland and computer firm Lenovo too are expected to buy properties here. According to sources, Ashok Leyland is planning to buy 175 acre land.

Indianrealtynews.com brings the real estate trends in Uttarakhand for all the real estate enthusiasts: