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The country’s largest real estate developer is planning residential developments in Goa and Kochi for 2022, with several other developers eyeing sites in Himachal Pradesh and Uttarakhand.
“Developers have tapped into the demand for holiday homes in such cities with innovative offerings with world-class amenities. Organized players who have a remarkable track record, have an advantage over others due to their vast experience and understanding of laws that govern do real estate in such markets,” said Akash Ohri, group executive director and chief business officer, DLF Home Developers.
Homebuyers have been investing in high value holiday homes set in the lap of nature for the past two years, as they seek social distancing, safety and comfort all in one place. Hill stations have always been considered as a favorite destination for vacations, especially for early departure from the metropolis.
“While Dehradun, Kasauli and Shimla have always been popular for quick access from Delhi NCR, cities close to these hills have also received a big boost, for example, New Chandigarh, Panchkula. Within a few hours’ drive from metro cities. Strategic location within. Spectacular views of Shivaliks, pleasant climate and tranquility are the hallmarks of these cities.”
Nearly 70% of the people who took the Seville poll said they want to buy a second home for less than ₹2 crore, and 57-70% want to buy a second home in the next two years.
Shweta Jain said, “Second home market is slowly growing. Unlike earlier, when capital appreciation and rental income were the governing norms, an additional dimension of a safe home away from the hotspots of the pandemic has become an important consideration. ” , MD, Residential Services, Sevilles India. According to the survey, Goa is at the forefront of home demand for second homes, with one fifth of the respondents interested in buying a second home in the popular beach destination. Realty developer Tata also has a project in Kasauli, while Eldeco, another listed developer, is planning to enter the holiday home segment soon.
Pankaj said, “We will enter the segment with projects in Kasauli, Rishikesh and Goa. We will do a joint venture and develop high-end villas. With our presence in Tier 2 cities, we are getting a lot of demand from our existing customer base. Get it,” Pankaj said. Bajaj, Chairman and MD, Eldeco Group.
Uttarakhand leads the domestic demand for second homes in the northern part of the country, while Himachal Pradesh has seen limited demand for second homes.
Chandigarh-based Sushma’s ED Prateek Mittal said, “Holiday homes are the talk of the town today. The lockdown has made everyone realize the importance of peaceful rejuvenation. People find a way to re-energize themselves regularly for their busy routines.” want the place.” Group.
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