Haridwar is one of the holiest cities in India, and it’s also a popular tourist destination for Hindus from all over the world. It’s located in the state of Uttarakhand. The city is home to many temples, ghats, and other religious sites, as well as a thriving market and a variety of cultural attractions.
It is also a rapidly developing city with a growing economy and population. As a result, the demand for property in Haridwar has been on the rise in recent years.
If you are considering buying property in Haridwar, there are a few things you need to keep in mind. In this article, we will discuss everything you need to know about buying property in Haridwar, from the different types of properties available to the legal and financial considerations.
What Types of Properties Are Available in Haridwar?
There are a variety of different types of properties available in Haridwar, including:
- Residential Properties: These include apartments, flats, houses, and villas.
- Commercial Properties: These include offices, shops, and retail spaces.
- Industrial Properties: These include factories, warehouses, and manufacturing units.
- Agricultural Properties: These include farms and orchards.
You can find properties in all price ranges, from budget-friendly to luxury.
Benefits of Buying Property in Haridwar
There are many benefits to buying property in Haridwar, including:
Haridwar is one of the holiest cities in India, and it’s a popular pilgrimage site for Hindus.
Haridwar is surrounded by the Himalayas and the Ganges River, making it a beautiful place to live or vacation.
Haridwar has good infrastructure, including roads, schools, and hospitals.
Potential for Growth
The real estate market in Haridwar is growing rapidly, so there’s potential to make a good investment by buying property there.
Where Are the Best Places to Buy Property in Haridwar?
The best places to buy property in Haridwar depend on your budget and needs. If you’re looking for a place to live, you may want to consider areas like Jwalapur, Kankhal, and Suman Nagar. These areas are well-developed and have good infrastructure. If you’re looking for a vacation home or investment property, you may want to consider areas like Rishikesh and Bhimtal. These areas are popular tourist destinations and have a lot of potential for growth.
How Much Does It Cost to Buy Property in Haridwar?
The cost of property in Haridwar varies depending on the type of property, the location, and the size of the property. However, in general, property in Haridwar is more affordable than in other major Indian cities like Delhi and Mumbai.
Here is a table showing the average price per square foot for different types of properties in Haridwar:
|Type of Property||Price per square foot (in INR)|
|Apartment||3,500 – 7,000|
|House||4,000 – 8,000|
|Villa||5,000 – 10,000|
|Commercial property||7,000 – 12,000|
|Agricultural land||2,000 – 5,000|
Please keep in mind these rates are off at the time of writing this article, it may change with time. Do your research also.
Legal and Financial Considerations
When buying property in Haridwar, it is important to be aware of the following legal and financial considerations:
All property transactions in India must be registered with the local sub- registrar’s office.
Stamp duty is a tax that is payable on the registration of all property transactions. The stamp duty rate in Uttarakhand is 6% of the property value.
Registration charges are also payable on the registration of all property transactions. The registration charges in Uttarakhand are 1% of the property value.
Property tax is an annual tax that is payable on all properties. The property tax rate in Uttarakhand varies depending on the type of property and its location.
If you are planning to finance your property purchase with a bank loan, you will need to get pre-approved for a loan before you start shopping for properties.
How to Buy Property in Haridwar
The following steps are involved in buying property in Haridwar:
- Find a Property: You can start your search for a property in Haridwar by visiting real estate websites, talking to real estate agents, or browsing through the classifieds in local newspapers.
- Negotiate a Price: Once you have found a property that you are interested in, you will need to negotiate a price with the seller.
- Sign a Sale Agreement: Once you have agreed on a price, you will need to sign a sale agreement with the seller. This agreement will outline the terms and conditions of the sale, including the price, the payment schedule, and the possession date.
- Register the Property: Once you have signed the sale agreement, you will need to register the property with the local sub-registrar’s office.
- Pay the Stamp Duty and Registration Charges: You will need to pay the stamp duty and registration charges on the registration of the property.
- Get the Property Insured: It is important to get your property insured against fire and other natural disasters.
Things to Keep in Mind When Buying Property in Haridwar
Before you buy property in Haridwar, there are a few things you should keep in mind:
- Do your Research. Make sure to learn as much as you can about the property you’re interested in, including the location, the amenities, and the price.
- Get a Lawyer. It’s important to have a lawyer review the property documents before you sign anything.
- Be Aware of the Legal Restrictions. As mentioned above, there are some restrictions on foreigners buying property in India.
- Be Prepared to Negotiate. The price of property in India is often negotiable, so don’t be afraid to haggle.
If you have made up your mind to invest in Haridwar then you can have a look at the newly launched Haridwar One project by EthInfra.
Buying property in Haridwar is a great way to invest in your future. The city has a lot to offer, including spiritual significance, natural beauty, good infrastructure, and potential for growth. If you’re thinking about buying property in India, Haridwar is definitely a place to consider.