Uttarakhand a land for Fractional Investing Dreamers.
Have you ever heard about an Indian state having more than 45 hill stations? That too within the geographical area of 53’483 sq. km. Yes, it’s Uttarakhand. In case you doubt let me write down the names so that you can search any one of them to know how versatile the terrain of Uttarakhand is. Or you can skip directly to the next paragraph if you still believe me. They are Abbott Mount, Almora, Auli, Berinag, Bhimtal, Binsar, Chakrata, Chamba, Chaukori, Chirbatia, Chopta, Dhanaulti, Didihat, Gangolihat, Garud Tal, Gwaldam, Harsil, Jeolikot, Joshimath, Kanakata Pass Trek, Kanatal, Kausani, Khairasain, Khirsu, Kush Kalyan Trek, Lakhamandal, Lansdowne, Lohaghat, Mathiyana Devi Temple, Mukteshwar, Munsiyari, Mussoorie, Nagthat, Nainital, Naukuchiatal, New Tehri, Pangot, Pauri, Pithoragarh, Pratap Nagar, Rahu Temple, Ramgarh, Ranikhet, Sattal, Sitlakhet, Uttarkashi and other places which you may find as a surprise location during your tourist visit.
I know you have skipped them all just after reading a few. But your lazy eyes don’t take away the truthfulness of the fact that Uttarakhand is indeed a place to be reckoned. It is known to many as the “Land of God” or in Hindi “Devbhumi”. The place also consists of many ancient religious places other than those surrounded by the beautiful Himalayan Landscapes. The state of Uttarakhand was formed on November 9th, 2000 as the 29th state of the Republic of India. Uttarakhand has the Yoga Capital of the world Rishikesh. It is having the highest Shiva Temple, two UNESCO world heritage sites to having highest dams in India. It also has the origins of countries most sacred rivers Ganga and Yamuna. Uttarakhand is a land of dreams and One of those dream is to have an ownership of home, land etc. A fertile land with landscape views of the Himalayas, Rivers and Tropical Jungles.
Being just 372 km close to the country’s capital New Delhi, Uttarakhand is a land of opportunities for Real Estate Investors. Post Covid, the scenario of land ownership or Real Estate investment has drastically increased. After Goa, Uttarakhand has become one of the favorite locations for property investors. This is the reason why property rates have increased by 15 per cent post Covid period. Buyers are looking desperately to buy a second home in the state of Uttarakhand. Places like Rishkesh, Chamoli, Mussori and Haridwar have become favourite spots of property investors to invest in. Buying at least a one-and-a-half “Nali” of land is common practice for a new investor. By the way, Nali is a term used in Uttarakhand to measure Land. 1 Nali is equal to almost 2100 sq. feet of land. Having 2 per cent of registration charges for any kind of land ownership. And stamp duties vary from 3.75 per cent to 5 per cent depending upon whether it’s a solo ownership or joint ownership. Also, Plots are sold as Freehold properties to avoid too much paperwork while making the transfer of property easy, making Uttarakhand the right choice for new entrepreneurs.
There are many non-Uttarakhand residents’ who want to invest in land in Uttarakhand and state regulations in Uttarakhand are such that it favours the prospective buyers either from India or from outside India (NRIs). Though there are some restrictions on buying the size of the plot i.e. you can’t buy more than 250 square meters of agricultural land on one Pan Card. This means that you can buy a fraction of a big land if you desire or already have selected any piece of land within the municipal limits of the cities of Uttarakhand. You can buy a house or a cottage as your second home but buying a big land for any commercial use may require a lot of efforts. Even people buy big land in Uttarakhand to build a resort, house or hotel to create a business for high passive income. Sometimes buying a big land can be tricky. Here comes the concept of Fractional Land Ownership where you can buy a fraction of a big piece of land either for big rental returns or big investment returns. Through Fractional Ownership your money will be invested either in a Commercial project or Residential Project.
Uttarakhand region is mainly divided into two areas Garhwal and Kumaau. So first you need to decide where you should start selecting Property as per your requirement. Also need to check whether it’s within reach of a local market since a lot of times your land may be way far from the location where you can park your car. Also, you need to check all the details of that land and whether you ought to be the first owner or not. A very important document with each land attached is called “Khatoni” (A kind of local governmental registered document where the actual names of the owners of the land are mentioned). You need to go through the same document as well. Sometimes a local builder signs an agreement with the locals or villagers to sell the land he owns and the locals or that villager tries to sell that land to you on behalf of the builder while showing you that agreement which creates a kind of controversy or monetary issues. For such reasons, Fractional Ownership of property through a reliable source plays a vital role in a smooth takeover of land.
Investment in land is considered to be the safest form of investment where NRI’s from the West are highly interested in owning land in India. Their strong desire to buy exotic land in India is getting fulfilled through Fractional Ownership Investment. (To know more about Fractional Investment read Blog 4) PROBANK is a professional portal that provides you with all the guidance in property sales where your hard-earned money through fractional investment. There is no better way to multiply your investment while owning a commercial or residential asset. Fractional ownership has become a boom in the real estate investent where no entrepreneur, angel investor or holiday homes buyers are lagging. So, if you are looking to buy land in Uttarakhand, the right time is now!