There is renewed interest in the picturesque regions of Uttarakhand. The verdant hillocks, scenic lakes & dams, spellbinding valleys, and snow-capped Himalayas in the background are beckoning second homebuyers from the NCR and other parts of North India. Uttarakhand, which is mostly approachable from NCR (around 5-6 hours), is witnessing increased investments in second homes and other allied concepts such as farmhouses, ecotourism hotels, rental villas, wellness centres, etc.

In the post-pandemic world, there is growing interest in wellness and rejuvenation and the demand for second homes & concept real estates is picking up. People understand the importance of striking the right balance between work and life. Earlier keeping monies in the bank was a norm. However, now readily buyers are investing in second homes and vacation villas, wherein one can periodically shun hectic city lives to stay and relax. Spending time amidst tranquil environs and bonding well with nature is no more just a buzz word. These are becoming integral part of lifestyles for many.

Naturally for investors and buyers from NCR, Uttarakhand is a preferred choice. Proximity and plenty of picturesque locations in the vicinity makes it a natural choice for many. Mentioned below are three prominent regions in Uttarakhand that make it a perfect recipe for second homes.

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Chamba: Tucked within the Tehri Gharwal is the scenic hamlet of Chamba. The region is located across the junction of roads from Rishikesh and Mussoorie. Chamba is around 2 hours from Dehradun. Nevertheless, after completion of the proposed Tehri Tunnel, the commute will come down to 40 mins. Chamba is a gateway to unrivalled Himalayan beauty. A nature’s bewilderment in true sense, Chamba is blessed with plenty of scenic water bodies, hills, verdant landscapes, etc. The highest man-made dam in India, Tehri Dam is located nearby. The gigantic dam is spread across 52 sq. km. The region is a fertile ground for gated projects, second homes, homestays, retirement villas, etc. Likewise, there is ample headspace for resorts, hotels, ecostays, etc.

Rishikesh: An evergreen second home location in the foothills of the Himalayas, Rishikesh and its nearby region such as Tapovan, Ganga Nagar, Dehradun Road, etc. are a bustling realty market. Traditionally buyers from Chandigarh and NCR invest heavily to buy farmhouses, villas, cottages, bungalows, etc. in the region. There is also notable increase in demand for smaller units such as 1 BHK, 2 BHK, Studios, etc. This is rooted in rise of industries in nearby Haridwar, which is also giving impetus to the property market. The region is a prolific ground for naturopathy & Ayurveda hotels, homestays, spiritual retreats, village camps, etc. Property in the main Rishikesh area ranged around Rs 5500- 6000/ sq. ft and is growing at a CAGR of 5%.

Narendra Nagar: Around 16 kms from Rishikesh is the town of Narendra Nagar located on top of the Himalayas at a height of around ~ 3500 meters. Narendra Nagar offers panoramic views of the mountains and the Holy Ganges. Around Narendra Nagar are the beautiful Alpine forests, which further adds to its natural charm. The natural environs of Narendra Nagar are perfect for rejuvenation and healing. The region of Narendra Nagar is known for popular spas and Ayurveda centres. It is becoming a sought-after destination for travellers, honeymooners, solo travellers, and travel vloggers. There is a plenty of opportunities to develop staycations, second homes, curated living, etc. in Narendra Nagar.

(By Ankit Kansal, MD, Axon Developers)

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