Imagine sitting in a balcony, surrounded by majestic mountains and beautiful trees. All you can hear is the peaceful whistle of the wind. If you buy a house in the hills, this scenery won’t just be limited to your imagination, but will be the reality.
Investing in properties in hill stations is a popular and growing trend. People often buy properties as a vacation spot, or post-retirement retreats. With the cheap property prices, along with convenient state regulations, buying a property in a serene hill station has become increasingly easy. Moreover, these attractive prices are accompanied by the beautiful scenery and delicious food that hill stations have to offer for you. Here are a few reasons why you should invest in a house in hill stations.
1. State Regulations
The State regulations in hill stations such as Uttarakhand are relatively flexible, while others may not give similar privileges. Uttarakhand welcomes investments from people residing in other states and has clearly stated guidelines for doing so. There is no particular restriction on the size of the property that you can buy. However, you can only own up to 250 square metres of agricultural area outside the city limits.
2. Variety of options
Depending on the price range you have in mind, hill stations like Uttarakhand offers potential buyers with multiple properties across categories. You can choose from a range of villas, apartments, plots or even agricultural lands. The entire region offers residential and vacation spots, depending on your needs.
3. Appreciation in Property Rates
Due to the steady development of hospitality and tourism industry in hill stations, there has been a steady appreciation in the property rates. Places like Mussoorie have witnessed the maximum jump due to its rapidly developing economy.
4. Freehold Properties
Another benefit of buying a house in a hill station is that the mutation and transfer of these properties is easy. All properties across the state, for example in Uttarakhand, are freehold properties. You can easily transfer and sell them when needed, with the required paperwork. This easy registration process attracts a lot of buyers every year.
5. Popularity of Leasehold models
With the rapid development of the tourism industry in hill stations like Mussoorie, the price of rooms has increased. Due to this, a lot of homeowners and investors have turned to the concepts of Airbnb and homestays for a source of rental income. If you’re looking to invest in a property with good returns, popular hill stations would be a good place to start.
To afford your dream property, visit Tata Capital for easy and hassle-free loans. We provide you with home loans and housing finance so that you and your family can invest in a luxurious house. You can visit our website to check your home loan eligibility and then choose to take a home loan, with our home loan interest rates starting at 9.25%. Visit Tata Capital today for your housing loan, to ensure a comfortable stay for you and your family!