Rudrapur

Rudrapur is a city in the Indian state of Uttarakhand. The city is being rapidly developed and becoming a lucrative destination for real estate investors. The city is well connected to other areas like Kathgodam, Rampur, Moradabad, Bareilly, Lucknow and Delhi by road, and rail network, which makes it all the more in demand. Adding to its real estate value are factors like: availability of land, wide pool of skilled workforce and plenty of growth opportunities.

With the ongoing real estate boom across cities in India, even Rudrapur is swarmed with dozens of real estate builders, who are taking up residential and commercial projects in natural surroundings.

Residential real estate
The residential property prices have risen considerably in the last one year. This is owing to recent infrastructural developments, government initiative, setting up of industries and also rising population. The properties in the city vary from luxury apartments and mansions to low budget housing. The development of NRI Lake City in Rudrapur has attracted investments from NRIs all across the globe.

Leading local and national real estate developers like Omaxe Group, Sherya Developwell, Samiah International Builders, Weltech Builders and others are setting up projects keeping in mind the future price rise.

Industrial Real Estate
The industrial properties demand in the city is rising because the government has declared the city as a non tariff area for central excise, custom and sales tax duties for a period of 10 years. This span may also be extended by the central government. This declaration has led to a large number of companies across industries setting up their factories in the city.

The prices have risen considerably more than 30-40% since the declaration and are expected to rise further. After the government declaration, the city has attracted a $2 billion investment in the real estate sector. Industrial players like Tata, Honda, Escorts, Nestle, Britannia, Dabur, Parle, Jindals, Mahindra, Kores, Radiant, have also made investment in real estate to the tune of 7000 crores, for setting up plants to the tune.

Future Developments
Anticipating a high rise, even in future, both local and real estate developers are making heavy investments in both residential and commercial real estate. Touted as the nest most lucrative realty destination, the city is also getting investment from global investors, which is expected to rise further.