Why Varanasi is the Ideal Place for Real Estate Investment?
With India's growing per capita income, the middle class is moving towards being upper middle class, and the lower income groups are stepping up as middle class. With this, the demand to own a dream home is increasing, too. Hence, the real estate industry in the country is currently booming.
The growth of the real estate market is not saturated to just top metropolitan cities like Delhi, Mumbai, Pune, Bangalore, and Kolkata. The tier 2 cities of the country are also seeing rapid growth and development, especially in the North Indian state of Uttar Pradesh. Lucknow, Agra, and Varanasi are booming heavily, given the robust development and investments raining their way.
However, today, we'll delve deeper into the Indian city of Varanasi and know the reasons that make it an ideal place for real estate investments.
Varanasi: The spiritual capital of India
Spread on the banks of the holy river Ganga, Varanasi is one of the oldest habited cities in the world today. The city is widely known for its importance in Hinduism and leading educational institutes.
A couple of years ago, the city's primary economy depended on education and tourism. However, with the recent development the city has seen in the past few years, Varanasi has become a major investment hub in several sectors, especially logistics.
The recent infrastructure development, the boost to the tourism industry, better connectivity, and the polishing of the education system have played an important role. The city, just 300 km from the state capital, has emerged as a leading market for both commercial and residential developments.
Reasons why Real estate Investing is ideal in Varanasi
If you want to invest in apartments in Varanasi, many options are available these days. Harhua, a region in the backdrop of Varanasi, is attracting real estate developers on a large scale. Many prominent builders from the state have already incepted their projects in the region.
There are many reasons that make Varanasi an ideal destination for real estate investment. Let's discuss some of the most prominent reasons that affect an investor's choice for making a real estate investment.
Infrastructure Development
The Uttar Pradesh government, in recent years, has done robust work in transforming the civic infrastructure of the city. This has resulted in better roads, improved services, and a better law and order system in the city.
Given its importance for the tourism potential, and to strengthen the same, Varanasi has received its share of growth. The expansion project of the 4-lane Varanasi Lucknow Highway and the widening of the National Highway 2 that runs through Varanasi-Aurangabad is in full swing.
The emergence of many infrastructural projects along the Ring road has also led to massive development in the region that skyrocketed the land rates in the area, giving good appreciation to the former investors.
Religious Tourism
Varanasi has a long history and is relatively important for Hindus.The city is home to magnificent ghats and temples to worship.
Apartments in Harhua, Varanasi, provide many affordable housing options. The area has easy connectivity to all the city's foremost destinations for a life close to the devotion of the lords.
Affordability and Land Appreciation
Being a Tier 2 City, apartments in Varanasi are pretty affordable. Given its simple and elegant city allure, the cost of living in the city is not on the lower end compared to other Tier 2 cities of the same state, like Lucknow and Agra.
The land appreciation rate in Varanasi is relatively high compared to the affordability of apartments in Harhua, Varanasi.
For example, Rudra Saubhagyam residential apartments offer suitable affordable apartments in Varanasi , which is an area of high appreciation.
Growing Educational Hub
Varanasi is home to one of India's best universities, The Banaras Hindu University (BHU). The inclusion of BHU into the Indian Institute of Technology has strengthened its cores to mark it as the best institute in the country.
With the growth of the educational sector in Varanasi, there is an increased demand for rental spaces and apartments. Investments made in apartments in Varanasi can thus bring stable rental income to the area.
Why Invest in Rudra Saubhagyam near Harhua?
Apartments in Harhua, Varanasi, are a good choice for a real estate investment. Modern facilities available in the apartments and robust civic amenities make the area a good option for families. The availability of schools, healthcare units, and important facilities like petrol stations, RTO, and banks are major attractions. The area has great connectivity with strategic positioning.
Here are some of the points that make Rudra Saubhagyam an excellent investment choice.
- Walkable distance to Varanasi Lucknow Road
- Proposed Allahabad Ring Road in five minutes distance
- 15 minutes to the railway station
- 20 minutes drive to the Airport
- Schools and healthcare within a 3 km radius
Wrapping Up
Varanasi is one of the fastest-growing cities in Uttar Pradesh. Given its robust infrastructure development, many real estate companies have already laid their project in the region.
Given its affordability and constant development, if you are interested in making a real estate investment in Varanasi, this is a good time to enter the market. The city's future looks promising, with opportunities for great return on investment.
Rudra Saubhagyam offers promising apartments in Harhua, Varanasi, that are loaded with modern amenities at an affordable price. The area is one of the fastest-growing regions in Varanasi, with many infrastructure developments already proposed in the region.
Therefore, all these reasons mentioned above make buying apartments in Varanasi a great option .
