Although the concept of weekend home has always been around, its evolution is fast changing. In addition to the upper-middle-class looking at investing in a weekend home, now even the middle-class are considering this opportunity. While Goa is one of the obvious popular choices for a vacation home, many new places are now coming up that have caught the investors’ interest. The present Indian generation understands the value of a well-deserved break after a hectic schedule. This need to find a work-life balance allows working professionals to be more mindful of their investments. While Indian Mutual Funds and Cryptocurrency are ways to multiply wealth, they are equally aware of their health. Investing in vacation home is one of the ideal ways they can manage both. However, the location is pivotal when undertaking a realty investment.
GooglePost shares a list of top budding vacation home destinations across the Indian Places.
Lonavala in Maharashtra has a booming real estate market owing to its proximity to two metro cities, namely Pune and Mumbai. While Mumbai is about 95 km away, Pune is relatively closer at about 64 km. The picturesque hill station in the Sahyadri Range, Lonavala, is also a major railway station on the Mumbai-Pune Line. It is easily accessible via both railways and roadways. The influx of tourists all round the year ensures a steady rental income for investors here. Many leading developers have launched contemporary villas, apartments and holiday homes to offer a range of choices to the investors.
Investment prospects in Lonavala, Maharashtra
|Tata Prive||Tata Hosuing||4 BHK villa||2,500 sq ft||Rs 5.25 crore|
|Safal Nature County||Safal Builders||3 BHK villa||1,700 sq ft||Rs 2.25 crore|
|Della Villa||Della Enclave||4 BHK villa||8,250 sq ft||Rs 5.5 crore|
|Sun Palms||Sun Housing||2 BHK villa||1,500 sq ft||Rs 95 lakh|
|Atharv Pristine Villa||Atharv Developers Mumbai||5 BHK villa||4,160 sq ft||Rs 2.75 crore|
Ooty, a city in the Western Ghats of Tamil Nadu, has grown leaps and bounds as a vacation home destination. Its beautiful landscapes attract many investors who consider colonial houses, bungalows, villas and apartments for investment purposes. Apart from Ooty, Coonoor and Kotagiri are also the popular choices for investment in the southern State. The trend here is that buyers purchase land later to construct a holiday home for their annual breaks. They give the property to a caretaker to rent it out to tourists. Non-Resident Indians (NRIs), particularly from IT and ITeS fields and hailing from Bangalore and Chennai, prefer investing here as it makes travelling to Ooty easier.
Investment prospects in Ooty, Tamil Nadu
|Lush Bergs||Westernhill Villas||2/3 BHK villa||1,000-1,300 sq ft||Rs 87.25-Rs 96 lakh|
|The Arcadia||Ivy Infra and Developers||3 BHK villa||1,200 sq ft||Rs 96 lakh|
|Fortune Villas||Fortune Builders Ooty||2/3 BHK villa||900-1,200 sq ft||Price on request|
|Boopathy Ketti Homes||Boopathy Homes Pvt Ltd||1 BHK villa||550 sq ft||Rs 32 lakh|
|Alpha Galaxy Valley||Alpha Realtors||2 BHK villa||1,014 sq ft||Price on request|
Nainital is regarded as one of the favoured investment choices among hill stations. Situated in Uttarakhand, it is a popular getaway from the summer heat of the North. There is a regular influx of tourists throughout the year in Nainital. The location has caught the attention of the NRIs in recent times. The constant construction activity in Nainital of residential and commercial projects appeals to investors. It is reported that land purchase is popular among buyers here, followed by apartments and villas.
Investment prospects in Nainital, Uttarakhand
|RG Indus Valley||RG Construction Haridwar||1 BHK/1 RK flats and 2/4 BHK villa||800-2,500 sq ft||Rs 42 lakh-Rs 2.1 crore|
|Shree Keshav Nature View Cottages and Apartments||Shree Keshav Buildtech Pvt Ltd||1/2 BHK units and1/2/3/4 BHK villa||700-2,000 sq ft||Rs 22.5-Rs 80 lakh|
|Mridul Pine Oak Paradise||Mridul Buildtech Builders||1/2 BHK flats||960-1,600 sq ft||Rs 32.5-Rs 55 lakh|
|Tranquille Living Chalets||Tranquille Living Spaces||2 BHK villa||1,400 sq ft||Rs 1.4 crore|
|Concept Corbett Crescent||Concept Buildtech||2 BHK villa||900 sq ft||Rs 50 lakh|
Gokarna in Karnataka is a small tourist town that has been gaining popularity of late for its beaches like Om Beach, Kudle Beach, Half Moon Beach and Paradise Beach. It also has some religious attractions, such as the Mahabaleshwar, Maha Ganapathi, Uma Maheshwara and Bhadrakali temples. The high point of this destination is its affordability and proximity to Bangalore, Chennai and Goa. Some of the frequently visited resorts in Gokarna are the SwaSwara, Gokarna Forest Resort, Om Beach Ayurvedic Resort, and Namaste Holiday Homes, among others.
Apart from these destinations, Coorg and Kodaikanal have also received admiration from investors and tourists alike. There is a continuous rise in demand for such vacation home destinations. Their construction is economical for the developers due to the low cost of land and easy availability of labour in these areas. Hence, the price paid by the buyer is also marginal.