Booming Real Estate in Dehradun - By: Deepika B

Dehradun, the provisional capital of the state of Uttaranchal, is 230 kilometres from New Delhi. Dehradun is known for its premier education facilities and institutional centers all across the country. Nestled in Himalayas, it is preferred for its tranquil environs and has, thus, become a favored destination.

After becoming the capital city of Uttaranchal, Dehradun is also witnessing rapid realty developments. The industrial and IT wave in the city has triggered demand for residential and commercial property in Dehradun. It is already a ‘knowledge capital’ being an education hub but the government is all set to make it an IT and BPO destination. It is offering host of incentives like exemptions on central excise and income tax for first few years.

Dehradun is taking rapid strides towards industrialization and State Industrial Development Corporation of Uttaranchal Limited i.e. SIDCUL is playing a pivotal role in the same. SIDCUL has been developing various industrial and software technology parks in the city while creating its image as a Pharma, plastic and FMCG industry hub.

Moreover, apart from capitalizing on its status of being a ‘knowledge capital’, Dehradun also entertains its location advantage as a popular tourist destination. Realizing the potential of tourism growth in Dehradun, MDDA (Mussoorie Dehradun Development Authority) is now developing a tourist centre. It will be developed over an area of 28 acres on Rajpur Road at a cost of Rs 10 crores. The construction of various 5-star hotels, malls and recreational facilities is also under progress with an investment of Rs 624 crores. This growth in tourism is in turn triggering commercial and residential real estate in Dehradun.

Dehradun real estate is booming at a rapid pace due to its inherent advantages that make it a preferred realty destination. Some of the advantages that have been contributing to Dehradun property growth are:
-good climate,
-low crime rate,
-good infrastructure like power and water,
-prominent educational centres, etc.

The surge in realty demand and pressure on property supply has been driving real estate prices in Dehradun. Property experts believe that it is a sellers market which is particularly growing at a very fast pace. Both residential and commercial property in Dehradun has appreciated three times within the time period of two years. As land rates register steep hikes every three years, there is 15-20% increase in rental values as well. Rented properties fetch around 7.5% return per annum.

Real estate in Delhi had earlier lure various local and national realty players but they are now entering the property market of Dehradun. Realty developers are heading for Dehradun to have a share of realty pie and are launching various mega projects in the city by scaling up operations to a new high. Some of the property builders developing real estate in Dehradun are Parsvnath, Sri Balaji & Co, Prabhatam Buildwell, etc. According to sources, these builders will offer studio luxury apartments with state-of-the-art facilities like landscaped parks, theme gardens, children’s play area, swimming pools, gym, multi-cuisine restaurant, business lounge and shopping centers. For them, elite lifestyles get complete with independent home villas, bungalows, apartments, etc. brought together with jogging tracks, fountains, playgrounds with secured environs as it elevates the overall quality of life.

The tier-II and tier-III cities are benefiting a lot from saturation of real estate in metros like Delhi, Mumbai, etc. When developers and investors hunt for new realty destinations, smaller cities like Dehradun attract attention because of their unexplored realty potential and other advantages.

Dehradun is all set to be the next realty hotspot as it witnesses developments across all sectors-residential, commercial and retail.

About the Author

Deepika Bansal writes on behalf of 99acres.com, which is an internet portal dedicated to meet every aspect of the consumers needs in the real estate industry. It is a forum where buyers, sellers and brokers can exchange information. At 99 acres, you can advertise a property in India , search for a property, browse through Dehradun property .

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