A home by the river Ganges
A small apartment in Haridwar can cost you about 15 lakh. Rishikesh is more expensive, with prices of residential units starting at 30 lakh
If you want to buy a home near the Himalayas with the Ganges flowing close by, a place that’s not too far from Delhi, Rishikesh and Haridwar could be the best options. While Rishikesh is a more expensive and upmarket realty destination, known for its mid-segment apartments or high-end villas, Haridwar offers options in the affordable range.
Also, while most units i n Haridwar and Rishikesh are second homes for people from Delhi, Gujarat, Maharashtra and Rajasthan, Haridwar also offers first home options for people working i n the State Infrastructure and Industrial Development Corporation of Uttarakhand ( SIDCUL) industrial belt. Housing options will increase with the around 4000 units currently coming up along the Roorkee Road. While apartments cost around ` 2500 per sq ft to ` 3000 per sq ft, plots start at ` 400 per sq ft and go up to ` 10,000 per sq ft.
Developers active in Haridwar include CHD Developers Ltd, Cosmic Group, Unnati Fortune Group and Antriksh Developers. Supertech has a few hotel projects in the region.
CHD has a project called Sri Gayatri Lok Apartments in Haridwar with views of the Shivaliks on one side and Ganges on the other. The project has been approved by the Haridwar Development Authority and is located on the Delhi- Haridwar National Highway (NH-58).
R av i S a u n d , C O O, C H D Developers Ltd, says that the company offers time-share options for its properties in Haridwar. A management company takes charge of the property while the client gets 60% of the proceeds and 20% is kept by the builder for the upkeep and maintenance of the unit. This also includes the brokers’ commission and rental yield is estimated at around 6% to 8%.
Antriksh Developers has started work on its 25-acre project, NRI City, in Haridwar. On offer are 300 plots and 700 flats located in the SIDCUL Complex that houses major companies such as Hindustan Lever, Mahindra, ITC, Havells and the Hero Group. “Around 25% investors comprise NRIs and locals who work in the industrial belt and visitors to Haridwar from Delhi, Haryana, Punjab and Rajasthan,” says Rakesh Yadav, managing director, Antriksh Group.
On offer are plots of sizes 120 sq yard to 180 sq yard, priced at ` 3425 per sq ft. Two BHK apartments of sizes 915 sq ft are priced at ` 2650 per sq ft and the size of a 3BHK unit is 1315 sq ft. While the plots will be handed over in March next year, the flats will be ready by 2015 end. The nearest river ghaat (for bathing) is 8 km away and the company plans to ply vehicles in the campus to ferry residents to the ghaat.
The Unnati Fortune Group is currently in the process of acquiring land in Haridwar and awaits a few approvals. Its project is spread across 60-70 acres and mainly has 1BHK units of 650 sq ft priced at ` 14 lakh and 2BHK units of 850 sq ft priced at ` 24 lakh. “We hope to launch the project in the next six months. It has been observed that people with the religious mindset prefer affordable units in Haridwar but those with a sense of adventure and style prefer luxury units in Rishikesh. We are planning to launch around 120 villas spread across 12 acres priced at 1.5 crore. This will be launched within a year,” says Anil Mithas, CMD, Unnati Fortune Group.
As far as properties in Rishikesh are concerned, the AEZ group has Aloha Rishikesh in Tapovan village along the Badrinath Highway. The five-acre project has around 200 1BHK and 2BHK units. “Possession for the project has been given to almost 50% of people who have invested in it and around four to five families have already moved in,” says Y R Gupta of Satyam Properties. The project was launched in 2005 at around ` 24 lakh for a 2BHK. The current price of a similar unit now is ` 80 lakh.
Rishikesh is also home to an ultra luxury project, Homage, located in Neergarh Village, three km from Rishikesh. These are leisure villas on the banks of the Ganges. The project has 27 limited-edition villas, including two triple storey four-bedroom villas, 15 double storey three-bedroom villas and 10 single storey twobedroom villas.