Hills Popular Destination For Holiday Homes- Lansdowne,Uttarakhand (India)

Residential property prices in metros are nearing their peaks. With a studio apartment in the Delhi-National Capital Region (NCR) and Mumbai priced at as much as Rs 15-50 lakh or even more, people are looking at properties in new locations closer to the metros. If you dream of having a home with a picturesque view of snow-capped mountains or lush green hillocks, it might be time to explore properties in hill destinations such as Nainital, Ooty, Lansdowne, Lonavala and Kodaikanal. With growing popularity of real estate as an investment, these destinations also offer fantastic investment opportunities as people desire to break free from the fast-paced life in the cities and demand for properties in hill destinations is growing.

Rising disposable income and the desire to get away from the frenetic pace of city life is opening up new windows of growth for real estate in the hills.

Though the interest in hill properties remains leisure-centric, these are being viewed as second homes, rather than holiday homes. The terminology plays an integral part in how they are priced and utilised. The demand is booming, as it makes for a viable economic investment for the buyer as well as the developer due to low construction cost and easy availability of labour and construction material.

As hill properties are seen as holiday homes or weekend getaways, buyers prefer easily accessible destinations close to metros or their first homes. "In the case of Mumbai and Pune, Lonavala, Khandala, Baneshwar and Alibagh are preferred destinations. In the northern and the eastern parts of the county, the places of choice would include Darjeeling and other non-restricted areas in Uttarakhand like LANSDOWNE.

Several property developers are selling plots, apartments and villas in these hill stations to capitalise on the growing market. You can easily find a suitable property starting from a few lakhs for economical apartments and plots to several crores for luxurious villas in popular destinations such as Lansdowne.

GROWTH PROSPECTS

People often buy properties to park their surplus money, it is important to look at the trend in the real estate market of hill properties. "The growth prospect of properties in the hills is robust. With rising disposal incomes the propensity to consider such locations will rise.

The property rates are surely appreciating. Some of these hill destinations second as tourist spots, and have their basic infrastructure and amenities already in place to cater to the needs of the people. This has initiated fresh flow of investment in these destinations by buyers and developers alike. 

Promoter of Potential Land & Housing Pvt Ltd Devvart is an alumnus of IIM Lucknow & real estate professional with over 12 years experience. Having worked with  renowned prestigeous firms like DLF Ltd in Delhi NCR and Goa Region and ETA Star Properties LLC in Dubai, he understands the interplay of Real Estate Marketplace. says "Appreciation of hill properties vary widely in accordance with the extent to which the hill town in question figures on the tourism map. Growing popularity of a destination will facilitate better appreciation of your property in the hills. So don't be the last one to spot the trend. Next time you plan a vacation, set some time aside for hunting for your new holiday home."

Potential Land & Housing Pvt Ltd