Dehradun: Real Estate Rising Slow And Steady
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 Missourian, 32 km uphill, has also added to the real estate demand here. Some upcoming projects that could influence real estate prices in future. Two IT Parks being set up on Sahastradhara Road and a Pharma City at Silique Industrial Area will increase employment opportunities and demand for residential projects. A Rs 2,200-crore ADB funded 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. 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. Dehradun is also a regional commercial hub. Retailers from across the country are in the process of launching projects. Shortage of occupiable residential options has resulted in appreciation of rental values, bringing in more investments in the sector. 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.