Haridwar is a place that attracts many homebuyers these days due to its spiritual and divine energy. Buying a residential apartment in Haridwar is the most trending real estate deal in many individuals are considering settling down in this city. There are a lot of factors like Budget, location, amenities, and even the builder’s persona to analyze.
Over a period of time, investing in real estate/property has given substantial yearly returns of around 9% especially in tourist cities like Haridwar and Rishikesh, that have seen an exponential growth in their real estate investment. Whether you buy residential property or invest in a residential complex in Haridwar, several factors must be considered to make an informed decision.
Location: Proximity to Key Areas and Accessibility
Accessibility to Temples and Ghats
When choosing a residential apartment in Haridwar, the location has an important role to play. Many people prefer to live close to the Ganga Ghats and famous temples like Har Ki Pauri, and Mansa Devi. Having a luxurious flat close to these locations will not only enhance your living experience but also help you earn rental income with good value appreciation.
Better Transportation Facilities
Whenever you plan to purchase real estate for your family, you need to be aware of how crucial reliable transportation is. Make sure that your apartment is well-connected to the railway station, bus station, and airport. This will make traveling comfortable, especially if you frequently travel to nearby cities like Rishikesh, Dehradun, or Delhi.
Nearby Amenities
Look for a location that has access to essential amenities like markets, schools, hospitals, and grocery stores. Buying a property in Haridwar near such facilities will make your day-to-day life more convenient. These facilities not only provide is comfortable life but also increase the overall quality of society. Maintenance and Other Recurring Costs
Besides the initial purchase cost, consider the ongoing maintenance fees, property taxes, and other charges like parking or security. These recurring expenses can add up over time, so it’s essential to factor them into your budget.
Budget: Understanding the Cost Involved
Initial Purchase Cost
The first step before buying any property is to set up a pre-defined budget for the property. The price of the apartment in Haridwar varies depending on the location, size, and amenities offered by the builder. Have a clear idea about your requirements for the property and what is the maximum budget you can spend on it. Make sure you don’t over exceed your budget, otherwise it will impact your purchasing power.
Maintenance and Other Recurring Costs
Buying a residential apartment in Haridwar does not only include the purchase cost, but other charges also play a major role. Expenses like maintenance fees, property taxes, and other charges like parking or security can increase the overall cost of your apartment in Haridwar. make sure to check all these costs before you finalize the deal with the developer. Always choose a flat which justifies all these costs and provides top amenities within the society.
Financing Options
How you purchase your residential apartment in Haridwar is very important. There are a lot of options you avail to finance your investment such as personal loans, home loans, and Home Equity Loan (HELOC) etc. Compare interest rates, loan tenure, and EMI options from different banks to find the best deal.
Size and Layout: Finding the Right Fit
Apartment Size
Right now there are primarily three types of flats preferred by the buyers. 1, 2 and 3 BHK flats in Haridwar offer high returns on investment. In addition, 1 and 3 BHK layout homes are generally purchased by couples. Whereas, 3 BHK is the best choice to family. But both families and couples can equally choose on which floor their home will be and on which side it is faced as per vastu.
Floor Plan and Layout
Floor plan and layout are other crucial things apart from sizes of your apartment. Make sure the home meets your requirements during the time of the project visit. Check the placement of rooms, kitchens, bathrooms, and balconies. A well-designed layout will maximize space utilization and provide better comfort.
Future Needs
Even if you are an individual or a couple always for future needs and how the project is going to fulfill them. If you plan to expand your family or need a home office, make sure the Haridwar flat has the flexibility to accommodate these changes.
Amenities: Assessing the Value Addition
Essential Amenities
In today’s age essential facilities and architecture are the basic requirement for everyone. Though it depends on person to person what kind of basic things they want. For someone, it can be a secure society and for someone, it can be having big parking spaces.
A modern residential apartment in Haridwar often comes with a range of amenities. Basic amenities like power backup, water supply, and security should be non-negotiable when choosing an apartment.
Lifestyle or Luxury Amenities
A person who buys his/her residential apartment in Haridwar has always been attracted to luxury amenities. Additional amenities like a swimming pool, gym, clubhouse, children’s play area, and gardens add significant value to your property. These facilities will have a positive impact on the quality of life and provide a better living experience.
The Importance of Resale Value for Future Returns
Market Trends in Haridwar
All residential apartments in Haridwar have their own release value. It mostly depends on the property location and the quality of your property. Haridwar’s real estate market has seen steady growth, and properties near spiritual locations usually have more appreciation rate.
For example- A person who purchases his residential apartment in Haridwar under a project like Haridwar One is going to enjoy high returns due to its high resale value. The project location near Har Ki Pauri is the key highlight of society.
Future Development Plans
The government of Uttarakhand launched a strategic plan to revolutionize the real estate sector of Haridwar. Upcoming infrastructure projects or developments like the Har Ki Pauri corridor, ring road, and pod taxies are going to provide good returns on your investment. Also, roads, public transport, or commercial projects can increase the property value in the future.
Rental Income Potential
Haridwar is a tourist city that offers various opportunities to earn rental income from your property. Almost half of the city’s population is dependent upon tourism and hospitality business. Millions of visitors come to Haridwar to seek the blessings of Maa Ganga. Buy Properties near temples, ashrams, or popular tourist spots to start your hospitality business and earn potential rental income.
Conclusion
Choosing Haridwar as your new home can be a little challenging due to its diverse offerings in real estate. Both ROI and NRI prefer this city to be the top choice to buy a holiday home. Therefore, buying a residential apartment in Haridwar might be the best investment decision for anyone.
But first, know your needs and set your budget to get the best deal at the right time. Find a home for your family within a gated society and enjoy other luxurious amenities. Whereas, Haridwar has much to offer, making it a truly special place to call home.
Ready to explore your dream home in Haridwar? Contact us now.
FAQs
Q1: What factors should I consider when buying a residential apartment in Haridwar?
You should consider the location, proximity to key areas like temples and transportation, availability of amenities, maintenance costs, and your budget while purchasing a residential apartment in Haridwar.
How does location impact the value of a property in Haridwar?
Properties near spiritual sites like Har Ki Pauri or with good accessibility tend to have higher value appreciation and rental income potential.
What are the ongoing costs after purchasing a flat in Haridwar?
Ongoing costs include maintenance fees, property taxes, parking, and security charges. These should be factored into your overall budget.
Is it a good idea to invest in real estate in Haridwar?
Yes, Haridwar’s real estate market has shown steady growth, especially in properties near spiritual locations, offering good returns and rental income potential.
