In the current evolution in Indian real estate market, real
estate developers have of late been eyeing the prospect
that Tier II and III cities and untainted cities have to offer.
After suburbs and satellite townships have been adorned, Rudrapur,
a developing industrial hub in Uttaranchal appears to bring
along a brilliant promise of a prized investment.
Rudrapur is situated at the heart of the Tarai Region which
boasts of people from all faiths and profession. The'Gateway'
to Kumaon hills, Rudrapur has found immortality as Jim Corbett's
setting for his book 'Man eaters of Kumaon'. Rudrapur's location
and infrastructure advantage can well enable it to surpass
other cities in terms of real estate growth.
While its geographical topography makes it the leader in
agriculture production in India; power generation is not a
problem. Another feather on its cap is ten power projects
planned by the government. Electricity rates are very low
and accessibility of water can be gauged by the fact that
it becomes available well within five feet below the ground.
Rudrapur nestling in wonderful locations on the Delhi-Nainital
Highway (NH-74) and Khatema-Panipat Highway (NH-87) boast
of sound connectivity. Adding to its real estate investment
prospects are availability of land, a wide pool of educated
and skilled workforce and plenty of growth opportunities.
The market potential is tremendous and pan-Indian real estate
agents are making a beeline to acquire land to started work
on integrated townships so that the region resounds with construction
Demand in Rudrapur real estate has been induced by end-users
also apart from the investors. This includes investors like
Non Resident Indians
(NRIs), corporate houses, local residents who are employed
outside the state of Uttaranchal, and have a property interest
in their home state. The role of NRIs in showing huge interest
in the upcoming high-end real estate products has also triggered
real estate investments in Rudrapur.
Residential properties in Rudrapur range from luxury to low
budget housing, it shows a variety of taste but single-unit
houses, row houses villas, penthouses and plots form the popular
taste. Rudrapur has had a taste of world-class lifestyle when
the NRI Lake City was developed. Its natural beauty and endowment
has made the idea of carving out exciting landscaped townships
every dweller go in complete raptures.
Enthusiastic real estate agents in Rudrapur and leading real
estate developers like Omaxe Group, Sherya Developwell, Samiah
International Builders, Weltech Builders and others are convinced
about the spiraling prices the region will offer. Industrial
houses like Tata, Bajaj, Honda, Escorts, Nestle, Britannia,
Dabur, Parle, Jindals, Mahindra, Kores, Radiant, Interarch,
U.S. Foods, Mahaveera Transport and others are promptly setting
up facilities here. The investment outlay of these companies
set for this work exceeds Rs. 7,000 crores.
Though the progress is encouraging, it is being predicted
that Rudrapur will take the steady route to mark the future
of real estate development in the country. The pace it acquires
over time will also be a deciding factor. The allotment of
a No Objection Certificate (NOC) is awaited for a smooth sailing.
The government is working on the proposal, though.
The measures taken by the Central and State Government to
declare land parcels as Special Economic Zones with economic
benefits and a 7 year industrial tax exemption have attracted
investments. Much of the development work has come on track
since Uttaranchal Land Reform Act permitted the sale of land
to private entities or those with non-domiciles status.
Rudrapur invites healthy comparison with Gurgaon and is expected
to consolidate its position steadily. Appreciation by 25-40
per cent during the next one-and-a-half to two years is likely
due to economic factors according to analysts.
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