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

HT Estates - - HTESTATES - Van­dana Ram­nani

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.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.