In Kr­ishna’s neigh­bour­hood

You can get an apart­ment in Vrin­da­van for 2,500 per sq ft to`3,000 per sq ft and in Mathura for 2,300 per sq ft to 3,500 per sq ft

HT Estates - - HTESTATES - Van­dana Ram­nani

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Are you a Kr­ishna bhakt, look­ing for some peace and calm and a home in his birth­place Mathura or Vrin­da­van? These cities in the state of Ut­tar Pradesh have sev­eral real es­tate op­tions. While the lo­cals pre­fer to live in plot­ted de­vel­op­ments, they are open to park­ing their funds in up­com­ing apart­ments in the twin cities as long-term in­vest­ments. People from Delhi, Ahmed­abad and Jaipur show a pref­er­ence for prop­er­ties that are plot­ted, stu­dios and 2BHKs to be used as sec­ond homes or re­tire­ment re­treats of a short du­ra­tion.

Many in­vestors have rented out their apart­ments for which main­te­nance fa­cil­i­ties are of­fered by the builders. De­vel­op­ers ac­tive here are CHD De­vel­op­ers, the Shri Group, Kar­mayogi Group and Push­pan­jali Con­struc­tions.

Com­pleted projects by the Shri Group in­clude Shri Ja­muna Dham, near Goverd­han Cross­ing in Mathura, of 4.83 acres, Shri Ja­muna Dham Ex­ten­sion, of 2.16 acres, Shri Radha Pu­ram on NH2, Shri Radha Pu­ram Es­tate of 39.65 acres, Shri Radha Brij Ba­sund­hara, Shri Radha Orchid, Shri Radha Town and Shri Radha NRI Greens.

Projects in which work is con­tin­u­ing in­clude Radha Golf in Mathura, of 24 acres with plots in the range of ` 9 lakh to ` 22.50 lakh. Shri Radha City is spread over 40.73 acres, with plots and ground plus two floors in the range of ` 12,000 per sq yard and ` 27.25 for apart­ments. Shri Radha Val­ley is of 66.85 acres and of­fers plots, 2BHK and 3BHK du­plex and high-rises for ` 19,000 per sq yard, ` 45-65 lakh and ` 2,650 per sq ft, re­spec­tively. Other projects by the group in­clude Shri Radha Florence in Vrin­da­van, of 26 acres. It has sim­plex vil­las and du­plex vil­las and plots priced at ` 31 lakh, ` 45 lakh and ` 18,000 per sq yard and an eight-acre project. Shri Radha Vin­tage in Mathura has apart­ments priced at ` 20.15 lakh to ` 22.15 lakh.

Ac­cord­ing to Amit Handa, ex­ec­u­tive di­rec­tor, Shri Group, the com­pany has al­ready de­liv­ered 8000 units in Mathura. These are mostly sec­ond homes and se­nior liv­ing and va­ca­tion homes brought by Del­hi­ites and Gu­jaratis. The group, which has re­cently launched vil­las, is also plan­ning to come up with a town­ship in Vrin­da­van.

Some of the projects by CHD De­vel­op­ers in­clude Shri Kr­ishna Lok Apart­ments in Vrin­da­van. Their on­go­ing projects are Shri Radha Golf, with plots and houses in the range of ` 9 lakh and ` 22 lakh; Shri Radha Val­ley, which in­cludes plots, du­plex and high rise apart­ments; Shri Radha Florence and Shri Radha Vin­tage.

CHD Group has projects such as the 6.5-acre Sri Kr­ishna Lok Apart­ments in Vrin­da­van. It has 216 apart­ments. On the buyer profiles, Ravi Saund, COO, CHD De­vel­op­ers Ltd, says that the aver­age age of buy­ers in their projects has come down to from 60 years in the last few years to 50. Most of them are tak­ing loans while still work­ing and a num­ber of them are now in­vest­ing here in a sec­ond home or buy­ing apart­ments for their par­ents. Clients be­long to Ut­tar Pradesh, Ra­jasthan and Gur­jarat.

While a 1000 sq ft, 2 BHK unit costs around ` 25 lakh and a 1BHK of size 600 sq ft costs around 18 lak, the de­mand is pri­mar­ily end-use driven and there are no NRI in­vestors.

Ra­jiv Ag­gar­wal of Shri Balaji Prop­er­ties says that lo­cals are chiefly in­vestors. Projects that were bought for ` 20 lakh four years ago to­day cost ` 42 lakh but the same prop­er­ties can be bought for around ` 34 lakh from the re­sale mar­ket. Prop­er­ties in Vrin­da­van, es­pe­cially stu­dios, are avail­able in the range of ` 22 to ` 23 lakh.

About 50 fam­i­lies have moved into Shri Kr­ishna Greens and 50 in Ke­shavd­ham near Iskon tem­ple, says Dheeraj Sharma, a bro­ker.

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