Uttarakhand is currently swarming with dozens of real estate builders who aim to encash on the vast natural beauty of the state. "Commercial and residential properties in Dehradun, Rishikesh, Haridwar have shot up with big players like Parsvnath, Ansals and DLF announcing their projects," notes Rehan Ahmed, Manager-Sales, Land Asia Infrastructure Ltd. Most of these builders are coming up with theme-based townships. The state has also received a couple of projects in the hydro-electricity, automobiles, fertilisers and IT-based industries. Developers are jostling hard to grab land banks in the state at the earliest, anticipating further rise in its prices.
Upcoming residential developments
The influx of population from Delhi and other different parts of India is inducing the growth of residential properties in Uttarakhand. "The state is witnessing a rise in development of low-cost and budget housing," states Raj Kumar, Manager-Sales, JJ Buildtech. Prominent builders like DLF, Parsavnath, Gulmohar, Unitech, Gaursons, etc, have announced their projects in the state. Some of these include:
Arogyam: This project by Eminent Infra Developers in Haridwar comprises a tower of G+6 floors having 1-4 BHK apartments with amenities like swimming pool, club house, gym, etc. It is likely to be complete by July 2012.
Princess Park: This is a project by Digvijay Realestate Developers in Dehradun comprising a block of G+6 floors having 42 apartments of 3 BHK. It will completed by December 2012.
Rock Valley: A rock valley by Setia Build Tech in Dehradun comprises a block of stilt+6 floors having 84 apartments of 3 BHK. It will be completed by December 2012.
Upcoming commercial developments
The cost of commercial properties in Dehradun, Ghaziabad, Greater Noida, Agra, Meerut, etc, is surging upwards due to the influence of the price hike in Delhi and its adjoining areas. "Current rates range from 30,000 to 40,000 per sq ft," informs Kumar. The total supply of commercial space in Noida, Ghaziabad, Greater Noida, etc, is increasing rapidly. Every year, about 2.14 sq ft of new area is being added to the existing commercial real estate. The upcoming projects in the state include:
Arun Dev Plaza: This commercial complex by Arun Dev Builders in Haridwar comprises a tower of G+4 floors having retail and commercial spaces with amenities like a 2-screen multiplex, anchor store, restaurants, discotheque.
Tamak Lata Hydro Electric Project: This 250 MW project is being set up by Uttarakhand Jal Vidyut Nigam in Dehradun.
Commercial buildings: For a hospital in Dehradun, Uttarakhand State Infrastructure Development Corporation plans to construct non-residential buildings.
