One option for property investors that is widely popular is hill station property investment. Often, people invest in hill areas properties for their retirement or to start a new life in warmer climes, but even if you don’t intend to live in another place, there are still opportunities for you to invest in other state markets and achieve good returns as a result. This guide takes you through the basics of hill station property investment, some of the most popular hill station sites to invest and things you need to think about when making some plans the move to a hill area market.
What are my options for property investment in hill stations?
There are various things you can do when it comes to mountain areas property investment — after all, it is fairly similar to investing in your home nation but just in a different state or location. One famous option is to invest in tourism areas and then either rent out your property as holiday home lets or sell it on, often to ex-pats. It can be a good option to look for up and coming holiday villas or resorts that have properties in need of development as you can make a good financial benefit on resale or achieve a handsome income stream through letting them out after doing them up.
You could also invest in the timeshare market as an owner, where you would own a lavish villa or wooden property and then let it out to holiday homemakers such as Airbnb, Booking.com, Goibibo, and MakeMyTrip who all have a stake in the property. This is a common way for a lot of hill station areas property investors, as is setting up small independent houses or apartments or any resort.
What are some common markets?
The property market is ever-growing, just like the home market. There are, however, some hill stations like property in Mukteshwar for sale that are eternally popular with home buyers or investors. For example, Uttarakhand is a very popular choice, particularly among Northern India investors as there is such a large ex-pat community over there.
Nainital, Mukteshwar, Dhanaulti, and Mussoorie are also very popular tourist places and they offer a lot of scope in terms of what’s available in the real estate investment market. It’s also worth paying attention to emerging real estate markets such as Uttarakhand and other hilly area states.
They are undergoing huge development but it’s still possible to get some beneficial properties for a good price like cottages in Nainital for sale and then sell them on for a profit, making this a currently very engaged market. If you’re looking to go further out in terms of location, Mukteshwar & Dhanaulti are good options where you will see a panoramic Himalayan view from the bedroom of your lavish independent wooden property.
What do I need to think about it?
As with any property deal, there are some useful things you need to think about when you’re going to invest to buy your retirement home planning. You should also pay some special attention to the site location and thoroughly research the real estate market — preferably through first-hand experience or through the development of a partnership as per your choices — before you invest there so you know you’re getting a beneficial deal.
For this reason, people investing in hilly areas often like to do it as a property collaboration, with someone who knows the property investment market well. Also, keep in mind that property laws & regulations will vary from state to state, so make sure you understand the ‘ins’ and ‘outs’ of their tax system and legal formalities before investment.