Rudrapur - Indian Real Estate's Little Secret
Rudrapur is a picture postcard town in India, surrounded by beautiful hills, lush greenery and picturesque mountains. This sleepy little town was best known as the “Gateway to Kumaon Hills.”
But recently, Rudrapur is making waves as an exciting property destination, with many upcoming commercial and residential projects.
Where is Rudrapur?
This charming town is in the Udham Singh Nagar District in the state of Uttranchal in India. It is a small place - and many Indians would not be able to correctly pinpoint its exact location.
However, real estate experts are of the opinion that Rudrapur is all set to give a tough competition to the established property market in nearby Gurgaon. The great thing about Rudrapur is that the property prices are still to peak, so you can easily expect 25 to 40 percent price escalations in the next 1 to 2 years.
What makes Rudrapur a good place for property investment?
Rudrapur stands out as a good city for property investment because of its excellent infrastructure, which is otherwise a problem in some other cities in India. Both water and electricity are available in abundance in Rudrapur, and the government has planned 10 more power projects to ensure a steady electricity supply for years to come.
The state government is also actively promoting property development in Rudrapur. It has declared Rudrapur as a non-tariff area for central excise, custom and sales tax duties for 10 years.
The considerable savings in taxes makes Rudrapur an attractive destination for big corporations and businesses. Established multinationals and Indian companies like Nestle, Tata, Britannia, Dabur, Honda, Bajaj, Parle, Jindal, Mahindra & Mahindra and Voltas are expected to invest over Rs 30000 Crore (approximately 6200 million USD) in the region.
Business growth in turn has a positive effect on real estate development. Rohtas Goel, managing director of Omaxe Construction Limited, a leading property developer in India, says, “The tax breaks have facilitated the overall economic development of Rudrapur. It has attracted several corporates to open their offices, eventually triggering a rise in demand for housing and commercial complexes.”
Rudrapur real estate projects
Some big national and international property developers who have projects in Rudrapur include the Omaxe Group, Sherya Developwell, Samiah International Builders, and Weltech Builders. The Samiah Group is developing an ambitious project called NRI Lake City, a high-end residential complex. Omaxe Riviera is another upcoming residential project by the prestigious Omaxe Group.
Things to remember before buying a property in Rudrapur
Rudrapur has many projects where you can take your pick from residential single unit houses, villas, penthouses and plots. Before actually purchasing the property, do a thorough research on the credibility of the builder and the finer points of the real estate project.
If you are planning to stay in the property you purchase, or even for best resale potential, choose projects that provide services like a reverse osmosis filtration system, power backup, sound infrastructure, clubhouses, and other recreational facilities.
A good quality project developed by a reputed builder will go a long way towards generating above-average returns on your real estate investment in Rudrapur.
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