Choosing the right type of property as an investment is still a challenging task especially if you are going to buy a property somewhere in Uttarakhand. People are often going for 1, 2, or 3 BHK layout options as per their family size and other requirements. However, the 2 BHK layout is considered the most preferred choice of home layout by many homebuyers.
Purchasing 2 BHK Flats in Haridwar can be a life-changing decision for your retirement life. It not only provides a better living environment but also benefits you in earning various profits. The spiritual places like Har Ki Pauri and Chandi Devi Temple make this place more suitable for senior citizens and Hindu Devotees. Today, we will understand why you should buy 2 BHK Flats in Haridwar and what are the aspects behind this decision.
Opportunity for Future Gain and Property Appreciation
Potential for Property Value Appreciation
Property value appreciation is the most attractive part of buying a 2 BHK flat in Haridwar. The city’s land value is growing continuously because of the high volume of tourists visiting Haridwar every year. Having a property near high-value places can provide significant returns over some time. Also, you can earn massive capital gains by selling your apartments in the future.
Long-Term Financial Benefits
Investing in real estate and earning profits from it is a long-term process. You can not expect to gain huge profits through real estate overnight. Similarly, availing 2 BHK flats in Haridwar offers long-term financial benefits. The Uttarakhand government is constantly making efforts to attract wealthy investors to buy land in Haridwar. Those investors can use their proven experience and strategies to identify such opportunities to liquidate real estate assets when the market conditions are favourable.
Avail Tax Benefits While Investing in 2 BHK Flats in Haridwar
Income Tax Deductions on Home Loans
Those who invest in real estate can avail of various tax deductions by the government of India. Various banks and financial institutes offer home loan facilities against reasonable interest rates which, in accordance with Section 24 of the Income Tax Act, you may deduct from interest paid. Furthermore, Section 80C allows for a deduction of the principal repayment, which results in large tax savings.
Long-Term Capital Gains
This tax efficiency makes investing in 2 BHK flats in Haridwar an even more attractive option. If you as an owner do not sell your property for more than three years, it comes under the category of long-term capital gains.
What is long-term capital gains?
LTCG is taxed at a lower rate as compared to short-term gains. Further, you can reduce your long-term capital gain tax liability or burden by investing in specified assets like bonds or another property.
Earn Steady Rental Income
High Demand from Tourists and Pilgrims
Haridwar is the home of millions of tourists and pilgrims every year where locals can find new job opportunities. Investors can start their own hospitality services with the purchase of 2 BHK flats in Haridwar to earn a steady rental income. You will have an option to rent out your residential apartments on a short-term basis to visitors. Also, local residents can ask for your property on a long-term agreement.
Lucrative Returns on Investment
The rental yields in Haridwar are very promising for 2 BHK flats in Haridwar. Earn high rental income by purchasing properties near popular tourist spots and temples. Investors can generate rent as passive income and cover the mortgage payments.
Increasing Tourist Footfall
The city is a popular pilgrimage site in India where millions of pilgrims come to experience the Hindu culture and heritage. In fact, Haridwar is also one of the best city to settle in Uttarakhand, and the place where most Hindus start their Char Dham Yatra. This leads to ensuring a steady demand for accommodation and significant appreciation.
Healthy Living Environment in Haridwar
Pollution-Free Environment
Haridwar is covered with green mountains and forests which makes it a less polluted city to live. Metro cities like Mumbai and Delhi are the first choice for every real estate investor but at what cost? Haridwar is a home of holy Ganges and increases the importance of living close to nature. Owning a 1 BHK Apartment in Haridwar is also great there.
Peaceful Atmosphere
The city is famous for having a great holiday time for Indians and foreigners. Moreover, it is the perfect destination to live your retirement life. Here, you can visit places like Rajaji National Park, Patanjali Yogpeeth, and Ganga Ghats to enjoy personal well-being, spirituality, and relaxation.
Value for Money Investment in a Growing Market
Cost-Effective Investment
The cost of buying 2 BHK flats in Haridwar is comparatively lower than in metropolitan cities. So, both middle-class buyers and investors can invest in properties with high appreciation rates. Still, many builders in Haridwar are developing residential societies with world-class amenities just like any other premium society.
Potential for Future Growth
Haridwar is still a developing city in this beautiful India. The value of real estate is expected to rise more with a recently announced project by the Uttarakhand government. It includes development projects like Pod Taxies, the Har Ki Pauri corridor, and the right road. 2 BHK flats in Haridwar are anticipated to give very high returns in projects like Emerald Riviera and Haridwar One due to proximity to these development projects.
Conclusion
2 BHK flats in Haridwar are a wise option to choose among others available in societies. This layout can be a perfect choice for a small family and also provides good rental yields to its investors. You can expect good capital gain and tax benefits from your apartment.
Also, the cost of living in Haridwar is more affordable than in any developer city which makes it a good option for the middle-class population. It’s the perfect time to buy an apartment in Haridwar and guarantee your spot in this holy and bustling city of Haridwar, as the city is becoming more and more popular as a tourist destination and as a real estate market.
