Get the Tata Capital App to apply for Loans & manage your account. Download Now

Blogs SUPPORT
Loans For You
Loans for Business
Investment
Insurance
Apply

Quick Links for loans

Quick Links for Insurance

Investment

Offers Quick Pay
Back

Equipment Finance

Avail Digital Equipment Loans
up to Rs. 1 Crore

  • Attractive ROIs
  • Customizable Loan tenure
Know More
Back

Equipment Leasing

Avail Leasing solutions
for all asset classes

  • Up to 100% financing
  • No additional collateral required
Know More
Back

New Commercial Vehicle Financing

  • First time user
  • Retail and strategic Clients
Know More
Back

Used Commercial Vehicle finance

  • Repurchase
  • Refinance
  • Top up
  • Balance Transfer
Know More
Menu  
 
Apply Now

Tata Capital > Blog > Loan for Home > Top Tips for Purchasing a Real Estate Property at a Hill Station

Loan for Home

Top Tips for Purchasing a Real Estate Property at a Hill Station

Top Tips for Purchasing a Real Estate Property at a Hill Station

Imagine waking up to a scenic view of hills while taking in a breath of fresh air every morning. Well, having a property on a hill station can make this a reality.

Many people buy house in hill stations India as a vacation retreat or enjoy their lives post-retirement away from the fast-paced city life.

As a result, these tourist destinations have transformed into new-age hot spots for growing real estate opportunities. So, if you are considering investing in real estate at a hill station, here are some tips to help you along the process.

1. Consider the growth prospects of the property

If you want to buy real estate in a hill station to invest and multiply your excess funds, you must consider the region’s growth prospects. The property prices are affected by factors such as location, basic amenities, and social infrastructure. Moreover, the capital appreciation of the property is highly dependent on the popularity of the particular hill station.

Therefore, make sure you research thoroughly before signing a deal.

2. Check the construction quality

Here’s a fact. Construction on slopes is much more tricky and intricate as compared to flatlands. Thus, you must consult the builder and seller about the construction quality of the property and conduct a proper check on all aspects of the house. Find out what materials have been used for construction and inspect the drain systems and hard landscaping before buying the house.

Additional Read: Is It Worth Buying House in Hill Stations?

3. Enquire about any seasonal damage

As you know, hill stations are prone to natural issues due to the topography and soil type. Therefore, you must inquire about any seasonal damage like landslides and excess water stagnation during monsoons. Furthermore, make sure that the house has water availability all year round and other basic amenities.

4. Ask if there are any state restrictions

Most importantly, you must check if there are any restrictions on a non-resident to buy house in hill station India. For instance, non-residents have to seek the state government’s permission to purchase land in Himachal Pradesh. Similarly, outsiders are not permitted to own more than 250 square metres of land in Uttarakhand. Hence, it’s best to inquire about any state restrictions beforehand.

5. Consider a housing loan

Before you start shopping around for suitable hill station properties, you should figure out how to finance the purchase. After all, real estate is a significant financial commitment, and you must pick a method that doesn’t compromise your financial security. Hence, borrowing a home loan is ideal for purchasing real estate at a hill station as you don’t have to dip too much into your savings!

Additional Read: Budget 2021: Some Hits and Misses on Real Estate Sector

Over to you

With more and more people buying their dream home in the hills, the real estate market in hills stations is rapidly growing.

If you, too, are looking to escape to the mountains, Tata Capital can help make that possible. You can afford your desired abode with the help of our hassle-free housing loan options.

Visit our website to learn the exact home loan interest rate and use the home loan EMI calculator to get an estimate of your monthly EMIs in an instant.

Apply For Home Loan

Say Hello to Your New Home with Our Easy Home Loans!

Apply now
Popular Searches
anyror modt charges 712 utara online gujarat pre emi calculator earnest money deposit Goa Land Record earnest money khasra number meebhoomi Assam Land Record
Disclaimer

Most Viewed Blogs

Trending Blogs

Calculator

Personal Loan EMI Calculator

Personal Loan EMI Calculator
Home Loan EMI Calculator

Home Loan EMI Calculator
Business Loan EMI Calculator

Business Loan EMI Calculator
Used Car Loan EMI Calculator

Used Car Loan EMI Calculator
Two Wheeler Loan EMI Calculator

Two Wheeler Loan EMI Calculator
Loan Against Securities Calculator

Loan Against Securities Calculator
Loan Against Property Calculator

Loan Against Property Calculator
More Tools
Our Subsidiaries
Our Other Websites

Useful Links and Resources

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Policies, Codes & Other Documents

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Tata Capital Solutions & Services

Uh oh, something went wrong

Please try again later.