Urban life is becoming hectic, draining off valuable time spent with our family. We always desire to move away from the clutter of urban life and spend some time, even it be just a weekend, in a cool climate and peaceful environment, that too in our own house? This sounds like a dream, doesn’t it? Moreover, after owning a house in the city and paying up all the expenses, people can only fantasize buying a piece of land or having a home in natural surroundings.
Owning a property is a suitable way to invest some money and also build something that one could use after retirement. Some people have already started investing in second and third homes, like the rest of the world. But with rising land prices in the city and urban areas, the focus has shifted to hilly states, where the land prices are comparatively lower.
Owning a property is a suitable way to invest some money and also build something that one could use after retirement. Some people have already started investing in second and third homes, like the rest of the world. But with rising land prices in the city and urban areas, the focus has shifted to hilly states, where the land prices are comparatively lower.
In North India, Himachal Pradesh, Uttaranchal and Rajasthan are popular destinations. The investors are mostly in the 30-45 age group and the most sought out in the North are Mussorie, Nainital, Bhimtal, Shimla, Bharatpur, Landour & Kasauni.
Till sometime back, an outsider (people who don’t have a Himachal domicile) could not purchase a land or property in the state as per Himachal Pradesh Tenancy and Land Reforms Act, 1972 (Section 118).
Things have changed over the period of time. Himachal Government has recently announced a new scheme to acquire lands for establishment of Housing Colonies. The dream of owning property in Himachal has become more realistic. The state government has now allowed the purchase of land by outsiders (non-Himachali). Himachal Pradesh Housing & Urban Development Authority (HIMUDA) is conducting demand survey of different areas in seven districts for the purpose of housing development in the state. HIMUDA has invited application from all citizens of India to own residential houses/plots/flats in proposed housing colonies to be constructed under partial self financing scheme. If the response for a particular area is adequate, the government will take necessary steps for acquisition of land. It plans to complete the formalities in six months.
After the finalization and approval of the scheme, people can buy, own and resell property in Himachal Pradesh. This is a dream come true for nature lovers, who always wanted to own a cottage in the salubrious environment of mountains. In case sufficient demand is not received for a particular location, the government may modify or abandon that scheme. You can download the scheme documents from the website of Himachal Pradesh Housing & Urban Development Authority. Now that it is easier to own house in Himachal Pradesh, we may still be worried about regular maintenance expenses and security. It is difficult to spend more than a few weeks a year in the second home or in mountains away from work. However, it is important to maintain the property for an extended period of time and employ a full time caretaker who is resident at the property. All this will put burden on the pocket. However, there is a significant income generation opportunity. A convenient option to address this dilemma is to convert the second home in Himachal as a vacation rental or homestay.
Lastly, promoting a vacation home or homestay requires significant time, money and energy for online and offline promotion, including creation of a website and building network with people by word of mouth or through their social circle. We offer a solution for your concerns. You can register your property with The Other Home at our website free of cost. The company will market your property and attract domestic & international travelers. You can list your property, control the inventory and manage other details.
The Other Home, an India-focused vacation rental, homestay and outdoor adventure properties consolidator, offers a platform to property owners to market their assets and attract clients. Some of the vacation homes and homestays registered with The Other Home in Himachal Pradesh are Treetops Cottage, Babavalley Farm, Aapo Aap Home Stay and Dwarika Residency Shelapani.
For more latest update, please see the presentation slideshare.net/theotherhome/himuda-demand-survey-own-a-vacation-home-in-himachal-pradesh-10041225
Now, you can download the list of applicants (Sorted by First Alphabet) of HIMUDA Demand Survey:
