After Uttaranchal became a state in 2000, areas in and around the capital Dehradun have witnessed steady demand. A Supreme Court order banning new construction in Mussoorie, 32 km uphill, has also added to the real estate demand here.
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Price Propellers
Some upcoming projects that could influence real estate prices in future.
1. IT Park, SEZs
Two IT Parks being set up on Sahastradhara Road and a Pharma City at Selaqui Industrial Area will increase employment opportunities and demand for residential projects.
2. Road Projects
A Rs 2,200-crore ADBfunded project is under way to overhaul and build roads in addition to JNNURM projects. The national highway stretch between Dehradun and Delhi is also being upgraded.
3. Airport Upgradation
Jolly Grant airport is being upgraded to accommodate bigger aircraft. This will improve accessibility not only of Dehradun but also of upcoming industrial locations in the state.
Major residential projects are coming up towards the south-east and south-west of the city. The latest revision in the circle rates for evaluation of stamp duty has pushed up land prices.
Retail Space Distribution by 2008
| Rajpur Road | 38% |
| Chakrata Road | 22% |
| Sahastradhara Road | 18% |
| Saharanpur Road | 10% |
| Others | 12% |
Total retail space supply by 2008: 1 million sq ft | |
Dehradun is also a regional commercial hub. Retailers from across the country are in the process of launching projects.
New Residential Projects
| Builder | Project | Location | Price (Rs)* |
| Neesu Group | Doon Paradise | Haripur | 25 lakh |
| Hansmukhi Dev. | Garden Estate | Sahastradhara Rd | 28 lakh |
| Octagon Builders | Santour Hills | Kandli Bilaspur | 28 lakh |
| Arun Dev | Arun Dev City | Chakrata Road | 30 lakh |
| GTM Builders | Forest & Hills | Haridwar Road | 35 lakh |
*Average price of a 3-bedroom apartment | |||
Shortage of occupiable residential options has resulted in appreciation of rental values, bringing in more investments in the sector.
Investment in Infrastructure by 2013
| Roads & Transport | 67% |
| Urban Renewal | 13% |
| Sewerage & Sanitation | 10% |
| Water Supply | 4% |
| Storm Water Drainage | 4% |
| Urban Poor | 2% |
Total planned investment by 2013: Rs 3,232 crore | |
More than half of the total identified investment over the next 5 years is proposed in the roads, traffic and transport sector, which is likely to give a big boost to real estate.
Buying Options
| Area | Cheap | Price | Expensive | Price |
| Central | Rajpur Rd | 2,900 | Mall Rd | 3,600 |
| North | Mussoorie Bypass | 2,100 | Sahastradhara Rd | 2,800 |
| West | Haripur | 1,800 | Chakrata Rd | 2,400 |
| South | Saharanpur Rd | 2,200 | Haridwar Rd | 2,500 |
Prices of residential properties in Rs/sq ft | ||||
Price Change
Average percentage price change in 2007 and 2008 (expected)
| 2007 | 2008* | |
| North | 30 | 20 |
| West | 18 | 10 |
| South | 20 | 12 |
| Central | 40 | 30 |
*Expected | ||
Source: Ernst & Young, Knight Frank
