Uttarakhand– a paradise on earth!! Uttarakhand is very popular because of various temples and pilgrimage destinations found exclusively in this state. And that’s one of the reasons why it is getting a major appreciation in the real estate market. Investing in Uttarakhand will be the best decision one can make. Let’s know what it takes to buy property in Uttarakhand. Here are the few things you should know before investing in Uttarakhand housing.
1- Investing in Uttarakhand is more efficient and profitable than investing in Himachal Pradesh reason being as per the section 118, One cannot have ownership of land in Himachal Pradesh.
2- In Uttarakhand, land is measured in ‘Nali’. One Nali is equivalent to 2,160 sq ft.
3- In Uttarakhand, an outsider or investor can buy up to 1.25 Nali i.e. 2700 sq. ft. with complete ownership of land.
4- It is Uttarakhand state law that all plotted developments in the state are sold as freehold properties implying that allows the transfers of property to be performed quite easily, with the few necessary paperwork.
5- Investors should guard against scams. It is advised that you should get the plot measured in the presence of the government official. You could also make sure the owners of the neighbouring plot are also present at the site during the measurement of the land.
6-There is severe water scarcity in Uttarakhand. Since house construction requires a lot of water, you need to check if the government water connection is available in the area. Locals usually rely on natural water resources, which are seasonal.
7- Uttarakhand is prone to natural calamities. Therefore buyers should opt for comprehensive home insurance when buying property for sale in Uttarakhand.
8- Before purchasing land, buyers should check the veracity of the seller and the land documents through the Uttarakhand Land Records Department portal.
9-Stamp Duty in Uttarakhand
Stamp duty and registration charges in Uttarakhand
| GENDER | STAMP DUTY RATES | REGISTRATION CHARGES |
|---|---|---|
| MALE | 5% | 2% |
| FEMALE | 3.75% | 2% |
| JOINT (MALE + FEMALE) | 4.37% | 2% |
| JOINT (MALE + MALE) | 5% | 2% |
| JOINT (FEMALE + FEMALE) | 3.75% | 2% |
10- Uttarakhand is home to almost 46 hill stations. A plot with a view of the Himalayas carries a premium price tag and is often preferred over regular properties, if you are planning to build a cottage or holiday home. A lot of land in Uttarakhand for sale is available in the best places.
After a lot of research, we have taken out a list of the best places where you can invest in real estate in Uttarakhand.
1. Mukteshwar known as “Apple country of India”
2. Nainital known as “Lake city”
3. Ranikhet known as “Queen’s Meadow”
Know more about township in Mukteshwar "Indus Valley Mukteshwar"
4. Majkhali known as “Scottish countryside”
5. Almora known as “Cultural heart of Uttarakhand”
6. Haridwar knowns as “Gateway to Gods”