Real estate news on Realty projects at holy places

Builders/ Developers, New projects, Real Estate Tips, Amritsar, Haridwar, Antriksh Group, Eminent Group, Arrow Infra, Vardhman Developers, Raghunath Group
Posted on May 02, 2013
If you are planning to invest in a second home or a vacation home, pilgrim spots like Haridwar, Rishikesh, or Amritsar could well be your best options.

Developers are offering a variety of realty projects in these holy places like cottages, one- and two-bedroom well-furnished apartments, plots, villas, and independent floors.

All these pilgrim spots are witnessing huge real estate developments owing to several factors including suitable climate and fast connectivity to the national capital Delhi. The trend, for sometime now, of buyers investing in these localities has led to excellent prospects for not only investors, but also developers, who have lined up their projects, from plotted to group housing development, here.

With availability of land at affordable prices compared to cities like Delhi, the NCR, Mumbai, Pune, Chennai, etc, and supported by improved infrastructure, places like Haridwar, Rishikesh, and Amritsar are getting a good response from end users and investors looking to combine their spiritual needs with a long term investment plan.

Haridwar and Rishikesh

Haridwar and Rishikesh have seen hectic construction activity with a number of realty players entering the market here.

Apart from being a pilgrimage destination, Haridwar also has a huge industrial belt – another factor that has fuelled the second-home property market with NRIs and top executives coming from across India to work here and investing in second homes or vacation homes.

Another reason for investing in Haridwar and Rishikesh is the high rental returns. With a significant floating population, especially during festivals and fairs, the demand for temporary accommodation is high in these cities. So, buying property in Haridwar and Rishikesh makes a lot of sense, because homes in such locations are increasingly gaining preference as retirement homes and weekend getaways for the spiritually minded.

The criteria for a second home property in Haridwar and Rishikesh are quite different from other holiday-home destinations. Here buyers should choose property for their proximity to religious places like Har-ki-pauri, Mansa Devi Temple, Laxman Juhla, Tapovan, or Triveni Ghat.

According to a report, Haridwar has registered a tourist influx of more than 18.8 million in 2011. Also, Haridwar has a population of over 0.31 million people as per the 2011 census. The State Infrastructure and Industrial Development Corporation of Uttarakhand (Sidcul) has an industrial park in New Haridwar. The region offers manufacturing facilities to top industrial houses like ITC Ltd, Hindustan Lever Ltd, Mahindra & Mahindra, Hero Honda Motors Ltd, Havells India Ltd, etc.

Developers like Antriksh Group, Supertech, CHD Developers, Eminent Group, Arrow Infra, Vardhman Developers, Raghunath Group, etc, are developing projects to meet the growing housing demand. Antriksh Group has Antriksh NRI City on 24 acres in Sector 9, Sidcul, in Haridwar. It offers plots of 120 sq yd to 281 sq yd and 2/3 BHK apartments of 915 sq ft and 1,315 sq ft. The group has committed to deliver 325 plots and 800 flats in the next two years.

Rakesh Yadav,the MD of Antriksh Group, says: “This is one of the largest gated-community realty projects in Haridwar. The peace and tranquillity of the location attracts buyers, who find the region suitable for their dream homes. Keeping the needs of our NRIs clients in mind, we have plans to provide world-class facilities like three-tier security systems, swimming pools, clubhouses, shopping complexes, etc, in our projects.” Supertech has already opened its first 5-star hotel, Radisson Blu and Pentagon Mall, located in the prime vicinity of Sidcul compound in Sector 9, New Haridwar. The projects primary catchment areas include Shivalik Nagar, BHEL, Jwalapur, and New Haridwar, while Roorkee and old Haridwar are the secondary catchment areas.

R K Arora, the CMD of Supertech Ltd, says: “The Pentagon Mall has brought world-class business opportunities to Haridwar and its suburbs. It has a super built-up area of around 0.5 million sq ft. The mall has a basement parking with lower ground, ground floor, and an additional three floors, which have been designed according to their utility without compromising on the aesthetics.”

Rishikesh is also a major hub for adventure sports. The Shivpuri area of Rishikesh is a favourite for adventure-sport enthusiasts. This can also be a good destination to invest in a holiday home, which can serve the dual purpose: as a base for pilgrimage and also to enjoy adventure sports.

Cosmic Group has launched, City of Romance, with ready-to-occupy features, which give buyers the chance to move into exceptionally furnished units.

The project is strategically located at an approximate altitude of 4,500 feet; it is 25km from Rishikesh on the Tehri-Gangotri NH-94 and just 2km from Anandas. City of Romance offers ultramodern living with elegant luxury villas, premium Swiss cottages, presidential suites, and luxury studios.

Sushant Mutreja, the MD of Cosmic Group, says: “We are creating our most premium and signature collection, City of Romance, in the lap of nature. It is a true paradise for those who want to redefine romance in their own way.”


Amritsar has a population of 1.4 million, with a sizable NRI population. Being a vibrant business centre of India, Amritsar has an international airport and attracts 4.6 million tourists every year.

Amritsar is one of the Top 3 cities in Punjab where investors would like to take their projects, especially those in real estate. Amritsar is expanding its municipal limits steadily with many realty projects like AIPLs Dream City, Alpha G:Corpss Alpha One, Alpha International City and SARE Homes Cresent Parc.

The most of existing forthcoming realty projects are coming up in a 10km radius around the city centre. These developments are well planned and are introducing new living standards to the region. The real estate development in the residential segment is picking up significantly.

Advance India Projects Limited (AIPL) is developing an integrated township, Dream City, on 148 acres; it offers residential, commercial, retail, independent floors, plots, villas, independent floors, work spaces, hotels restaurants, a club, a school, and medical care facilities. This is a joint venture project of Advanced India Project Limited (AIPL) and Ambuja Housing and Urban Infrastructure Company Limited (AHUICL).

Sanjay Sachdeva, the executive director of AIPL, says: “In this integrated township youll find everything under one roof. This is one of the largest private parks in Amritsar with world-class recreational facilities, on campus school, a shopping mall, and healthcare facilities. The project has Bharti Wal-Marts first store on a 23-acre commercial complex.”

Alpha G:Corp has launched a new business and entertainment destination, Alpha One, in Amritsar. Alpha One is the single largest mixed use development in terms of area of construction, retail space, and quality of development in the region and caters to the entire city and emerging satellite towns, besides the tourists that flock to this holy city.

Prodipta Sen, the executive director and head of marketing & retail, Alpha G Corp, says: “The initial investment for this mega project in Amritsar is over Rs 350 crore, in Phase 1, with hypermarket, big-format retailing, standalone boutiques, hospitality, and F&B including one of the largest and choicest food courts in India. We will consistently elevate the expectations and experience of the people of Amritsar with a truly cosmopolitan experience customized especially for them.”

SARE Homes is developing an integrated township, Crescent Parc, on 101 acres on the main NH-1 in Amritsar. H S Sandhu of SARE Group says: “Crescent Parc blends the finest in international living and offers quality housing projects at affordable prices. Ashberry Homes is a part of this splendid project on 5.12 acres and offers 1-,2- and 3BHK apartments. We are developing the realty project into two phases: Crescent Parc Phase 1 on 25 acres and Crescent Parc Phase 2 on 55 acres. These will offer villas, independents floors and plots.”
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