buy a home in Uttarakhand
Hills of Uttarakhand offers a wide range of second home properties in all segments with the prospect of earning a good rental income. Let’s look if it all makes sense to buy a home in Uttarakhand & what factors they should consider. Advantages of buying a second home in Uttarakhand from the Best real estate company
buy a home in Uttarakhand
  • State regulations for buying

Uttarakhand is open for all investments from people who are living in other states. The government has already cleared the buying restrictions for people who live in other states. There are no such restrictions on the size of the property & if you are buying it within the municipal limits of the city. But as per the rules a person can only buy 250 sq. meters of agricultural land that falls outside the city area. This also means that 2-3 people from the same family can only own the land. So if the agricultural land is within the limits of the city then the person has to comply with the Land Ceiling Act of the state. 
  • Options For Prospective Buyers

The region has now developed its entirety as a residential-cum-vacation destination with all the options for all kinds of buyers. New buyers who can spend on a second home with a high disposable income that is attracted to this region. 
  • Appreciation in property rates

Development & establishment has been a steady appreciation in the price across all categories except land. According to the brokers, property rates have seen the biggest jump in the past 2 years due to a rise in the hospitality and tourism industries
  • Freehold properties

All developments across the state are sold as freehold properties where mutation & transfer of properties are easier for a new buyer with all the necessary paperwork. This makes fresh registration of properties easier for a new buyer.  

Some popular buying destinations in Uttarakhand

Several hill stations have come up with a second home destination for city growth. Some of these are popular because of the  scenic view they offer & availability of land:
  • BHIMTAL
  • DHANACHULI
  • BHOWALI
  • SATTAL

Things you must know before investing  in Uttarakhand

  • The land is measured in ‘Nali’ In Uttarakhand & 1 Nali is equivalent to 2,160 sq. ft.
  • An investor can only buy 1.25 Nali (2,700 sq ft) of residential land on a PAN card.
  • There are a lot of properties in Uttarakhand which are available for sale so investors should guard against the scams. 
  • There is scarcity in Uttarakhand as house construction requires a lot of water so you need to check if the water connection from the government is available in this area. Locals mainly rely on natural water resources which are seasonal. The government has banned borewells as many places in the state do not have a regular water supply. 
Before you you should check the veracity of the seller & the land documents through the Uttarakhand Land Records Department portal. 

How to make profit from your second home?

If you are Buy a home in Uttarakhand you can use it as a vacation as you still earn rental income through it by offering it for a short period such as  Airbnb, Vista Room and various other small players, that are active in this space & offer you consistent money by listing your property on their portal where people plan holidays search for accommodations on short term basis you need to be cautious when you let someone in your property through any 3rd party platform as the security & the upkeep of the property have to take care of by owner & should be virtually available addressing the queries of your guests. 

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