Dehradun Real estate overview
Dehradun is the capital city of the state Uttarakhand. It is located in the Doon valley in between the rivers Yamuna and Ganges on the foothills of Himalayas. Dehradun is one of the famous tourist destinations in northern part of India. It is also well connected by road and rail to many major tourist destinations in north India such as Mussoorie, Nainital, Haridwar and Rishikesh.
Connectivity:
In addition to the sylvan environment, the Doon Valley also boasts of swift connectivity. Through Jolly Grant Airport, which is located in the South-East part of the city, 25Km away from valley of Dehradun and through Dehradun railway station, the city enjoys swift air and railway connectivity. It is also well connected with NH-72, which connects Dehradun with NH-1 giving smooth connectivity to Delhi.
Current real estate scenario:
Being the capital of the state, well-connected tourist destination and availability of all kinds of amenities has also created a residential and commercial real estate demand. However due to recent natural calamities coupled with an overall market slowdown, real estate sector in the year 2013 and 2014 resulted in a steep fall. It is expected that there is an overall fall of around 35 per cent in the past year. Several new projects have been launched but the property transactions have decreased due to unavailability of buyers and investors. But it is expected that there will be mass migration due to the recent calamities in the nearby tourist spots resulting in an overall rise in residential real estate demand.
Many city level and state level facilities are located in the northern part of Dehradun. So most of the projects are concentrated in the northern part majorly along Sahastradhara Road, Mussoorie Road and Rajpur Road. Other areas with more real estate demand are Haridwar by-pass, Chakrata Road and GMS Road. Due to the proximity to the nearby tourist destinations, there is a demand for second homes in these areas. However the overall market is driven by end-users but not the investors. The migrant population from other higher regions resulted in only end-user residential real estate demand.
Dehradun Real Estate Price Trends:
There are many projects along Sahastradhara Road which offer 3BHK apartments in the range of Rs 2000 – 3000 per sq ft. 2BHK apartments are available in the range of Rs 1500 – 2500 per sq ft. Rajpur Road and Mussoorie Road being are far from the city center compared to Sahastradhara Road. So prices in these areas are also less in comparison to the prices of Sahastradhara. 3BHK and 2BHK apartment are available in the range of Rs 1000-2500 per sq ft. Villas and other townships located in these areas offer properties in the range of Rs 3500-4000 per sq ft.
