Around 8.9 million foreign tourists visit India every year and a majority of them prefer going to the hill station for its scenic landscape

 

Real estate investment in India is not just limited to purchasing residential apartments, houses and commercial complexes but also about investing in properties located at hill stations. 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. 

The property at a hill station is not just a vacation home for the homeowner, but it can also be used as a rental home for travellers on both short term and long term basis. Those looking to invest in a second home must keep in mind the advantages of owning a place at a hill station for its strategic value.

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 favourable location with important centres 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. Home buyers 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 Mahabaleshwar, 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. 

Haflong on the other hand, which is a hill station located in Assam 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. 

For example, if a person who does not live in Himachal Pradesh wants to buy land there, then he would have to take permission from the state government of Himachal Pradesh under Section 118 of the H. P Tenancy & Land Reforms Act, 1972. 

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.

As properties in hill stations are usually located at unfamiliar locations, investors must make sure that the price they are paying matches the current rate of a similar property in the region and are being sold by genuine developers.