Dehradun, the capital of Uttaranchal is one of the most picturesque cities of India. It is situated in the Doon Valley on watersheds of the rivers, Ganga and Yamuna. At an altitude of 700 mtrs, Dehradun is 230 kms away from the national capital, Delhi. It lies very close to cities of Mussoorie, Haridwar, Rishikesh, Roorkee and Saharanpur. The name Dehradun comes from the term “Dehra” meaning camp.
The emergence of MNCs in India and the growing preference of India as a business centre by leading global companies have proved hugely favorable to the economy. The job markets are flourishing, giving rise to demand for residential, commercial and retail properties. With all the tier-III and tier-IV cities experiencing a boom in their real estate development sectors, Dehradun is also becoming one of them. The property trends across contemporary India are very similar and boosting the economy almost on the same lines.
First, comes the IT or industrial boom with various corporate honchos zeroing in particular cities to establish and expand their operations.
Then, surge in real estate construction with mass development of property by best builders to meet the needs of the organizations and its people.
And finally, realty prices are sky rocketed due to the large-scale growth, investor potential and future scope of the property market.
The real estate market of Dehradun has altered in a major way in past few years. Some of the well known builders in India have shown their interest in developing property in Dehradun. The real estate developers of today are building properties of international standards to improve the living standards. They are constructing luxury apartments and breathtaking structures equipped with latest amenities to cater to the needs of young modern India. Thus, there is a swift growth of high level property across the country delighting the property developers and property dealers.
There are various reasons contributing to the growth of real estate in Dehradun and the hike in property rates. Some of them include:
Dehradun is a very popular tourist spot attracting loads of tourists, pilgrims and enthusiasts looking for serene environs. They create the demand for holiday homes in the city.
The scarcity or lack of land available in metro cities has diverted the focus of MNCS toward smaller cities of the country. Dehradun, ‘the Adobe of Drona’ is one of them.
The growing demand from technology sector to accommodate professionals needs more number of residential spaces. This has led to mushrooming of theme townships in the city.
The commercial and retail developments along with proposed IT/ SEZ coming up, residential sector is also seeing a high.
Also, Dehradun is a house to various national institutes and organizations like (a) ONGC (Oil & Natural Gas Commission), (b) Survey Of India, (c) Forest Research Institute and (d) Indian Institute of Petroleum.
Moreover, the headquarters of (a) Indian Military Academy, (b) RIMC (Rashtriya Indian Military College), (c) Indira Gandhi National Forest Academy (IGNFA) and (d) Lal Bahadur Shahstri National Academy of Administration (LBSNAA) are also situated here.
Some of the upcoming projects in Dehradun include Ramneek Vihar township by Piyush Group over 25 acres of land and a government approved La City Spa Township. The booming economy of India is causing overall development of the country which implies that all the industries and all the cities will grow in coming years. The growth will naturally increase the value and prices for properties in India. Known for its luxurious hotels, Dehradun is witnessing this fast paced growth today.
It is the ideal time to invest in Dehradun property as it will reap high benefits in coming years.