Important notes before one invest in a property at a hilltop-
Indrajit Singh
Corporate Innovation Strategist | Ecosystem Architect |Growth Catalyst |Ex-YCombinator| Ex-SLP |Ex-Founder
Investment in India is not just limited to purchasing residential apartments, houses, and commercial complexes but also about investing in properties located at a hilltop. India is a land with numerous hill stations spread across the entire country. People living in the urban areas of India, as well as a huge number of foreign tourists, pay a visit to these hill stations almost throughout the year.
1. Accessibility
Even though hill stations are located far away from the city, an intelligent home buyer must make sure that the property is easily accessible from the nearest town so that those visiting the property or booking it on rent need not go through the hassle of driving through steep roads and forests. The property must have a favorable location with important centers like hospitals and food joints nearby.
For home buyers looking to purchase the property to put it on rent as a vacation home or a guest house, such amenities nearby assure a greater value for the property as it increases the chance of getting more guests.
2. Safety
As some hill stations are home to a wide variety of flora and fauna which adds to the diversity of the region, there might also be chances of endangered animals coming close to the property. Homebuyers need to make sure that the property is constructed with quality materials and is surrounded by a protected boundary.
Another major thing to be kept in mind is that properties in hill stations must provide security measures so that guests can be at ease at any hour of the day. Thus investors have to be ready that simply purchasing a property at the hill station is not going to be the end of their expenses. Additional costs will also occur when this property will be in use.
3. Growth
Investments made in properties located at popular hill stations can offer a faster and greater return of investment than those properties located at emerging hill stations. This means that purchasing a property located at Pune, which is located near both Mumbai and Pune, has a higher chance of witnessing a faster growth as it is already a well-known hill station with visitors from across the world.
Idylworld on the other hand, which is a hill station located in Pune offers some of the most beautiful landscapes and pleasant weather will take time to gain popularity like Mahabaleshwar.
4. Rules
In certain places, there are some rules and regulations to protect the interests of the people living in hill stations as well as to protect its rich geographical area.
Thus, before purchasing a plot of land or property, the homebuyer must be aware of the various rules and regulations that need to be followed concerning the purchase of a property. This would make sure that no mistakes are made unknowingly by the property owner.
5. Construction
Those planning to construct a property at a hill station need to get involved with an experienced builder who has years of experience in constructing properties in the hilly slopes.
The home buyer needs to conduct a proper check on the quality of materials used in the construction of the property and ensure that proper drainage and water facilities are made available. As the availability of water can be a major issue in hilly areas, the builder must be told to arrange rainwater harvesting units in the property.
6. Due Diligence of Property
Before investing in a property at a hill station, the home buyer must do proper due diligence. This means that the home buyer has to be aware of the risks associated with the property and ensure that all documents associated with the property are reviewed carefully.