Haridwar is attracting not just pilgrims,but real estate investors too,
Haridwar,the abode of gods,owes much of its significance to its spiritual relevance in Hindu mythology.But today,it has become an important hub of economic activity in Uttarakhand.Situated on the banks of the holy Ganga,the city has,for sometime now,become attractive to those keen on owning a house in Haridwar.Naturally,several developers have started carving out integrated colonies.
Among the giants that are developing urban hubs here are CHD Developers,Hero Honda,Sri Gayatrilok and Aarogyam.All claim approval as developers by the Haridwar Development Authority (HAD).According to Ravi Saund,business head of CHD Developers,most people who inquire about property in CHD clusters of 3BHK houses are the retired or elderly people who wish to live in a calm,holy environment.
Hero Honda,the two-wheeler giant,has launched a 50-acre township - Haridwar Greens - aimed at meeting the needs of the locals and the migrant population from various parts of India and abroad,who consider Haridwar the true Dev Bhoomi.
The Uttarakhand government too has played a major role in making the real estate scene here more vibrant.Its prize project,Inderlok Residential Scheme (IRS),has affordable homestead sites available at reasonable rates,says Subhadra Das of Sangam Estate Properties.The plots in IRS,being small (300 sq metres maximum),are selling like hot cakes,Das says.
Aarogyam is a world-class resort comprising furnished airconditioned residential apartments,furnished airconditioned service apartments and a 3,000 sq ft spa spread over 19 acres,says Rajesh Mehta,vice-president (sales) of Aarogyam.
Aarogyam is coming up in phases.In the first phase,the company has developed 480 units of which nearly 70% has been sold for Rs 2,600-2,800 per sq ft.In the Jurs Colony,which is being developed by a local firm,a 2BHK apartment is available for Rs 17.53 lakh and a 3BHK for Rs 23.77 lakh.
As several international brands have set up shop at Haridwar,the city is literally in high demand.With the establishment of BHEL (Bharat Heavy Electrical Limited) and SIDCUL townships,the demand for houses has increased and the rates have started moving northwards,says a city-based real estate consultant.
In prime residential areas like Model Colony,Adarsh Nagar,Govindpuri and Raj Vihar,the current rate is around Rs 6,500 per sq ft.The rental market too has become lucrative,with a one-room set fetching around Rs 3,000 a month.The main commercial area in New Haridwar,popularly known as the Connaught Place of Haridwar,fetches a monthly rent of up to Rs 100 per sq ft.Even the prices of agricultural lands on the Rishikesh-Delhi road are skyrocketing,with one bigha being quoted for Rs 1 crore and above,says Ramesh Chand,a developer in Haridwar.
