Will multiple infra projects become a boost to Realty in Uttarakhand?

Many new projects have been announced by the government in Uttarakhand recently to scale up the economy of the region.

This move by the government of India will boost the tourist revenue of Uttarakhand. According to the PMO, Uttarakhand is all set to see more tourism in the upcoming ten years than it has seen in the past hundred years.

The Prime Minister addressed a congregation while visiting the Kedarnath temple in the Rudraprayag district of Uttarakhand for the second time. He inaugurated several projects worth ₹130 crores in the state. 

Better infrastructure to attract tourists

Uttarakhand might be one of the premier tourist capitals of India but it lacks infrastructure. The roads are particularly bad as they are prone to landslides. The PMO aims to improve the connectivity of the region to boost tourism.

However, tourism is not the only motivation for this move. For instance, there have also been arrangements for wildlife conservation and rainwater harvesting along the Delhi – Dehradun Economic Corridor. There is also talk of the construction of a bridge near the Lakshman Jhula across the River Ganges.

The major areas to be affected by these projects are mainly the tourist hotspots such as the scenic Dehradun and sacred Char Dhams. The Prime Minister also told the people that work has begun on the development of a cable car so that more devotees can visit the state.

Among the key roadway projects are the greenfield alignment project that will reduce the travel time from Delhi to Haridwar. Animal passes will also be constructed in the Ganeshpur – Dehradun area to prevent any collisions of vehicles with animals. Rainwater will be harvested at regular intervals of 500 metres with over 400 recharge points.

The aim of all these projects, particularly concerning the roadways, is to make travel and living easier and safer in Uttarakhand. The state suffers from frequent landslides owing to its mountainous topography. By investing in road projects, both the Uttarakhand and the Central government will be laying the foundation for more development in the state.

The PMO also plans to inaugurate the child friendly city project in Dehradun to make the city safer for children. A new medical college will also be opened in Haridwar. The River Yamuna will also see the construction of the Vyasi Hydroelectric Project across its banks. 

Areas to be affected by better connectivity

The PMO said that work will be done to improve connectivity to the Char Dhams. The Char Dhams attract devotees from all over the country. Many foreign tourists also find their way to the Char Dhams. They generate a core part of the tourism revenue for Uttrakhand.

Additionally, ropeways near the Hemkund Sahib will also be constructed to boost tourism. The Delhi – Dehradun Economic Corridor along with 11 development projects have been given the green light by the government. This move will reduce the time taken to travel from Delhi to Dehradun by more than half. Consequently, the projects will also include core cities like Haridwar, Shamli, Roorkee, Nainital, Rishikesh and others. 

Furthermore, the Saraswati Retaining Wall Aasthapath, Ghats, Mandakini Retaining Wall Aasthapath, Tirth Purohit Houses and Garud Chatti bridge on the Mandakini river will also see significant developments. The overall cost of these projects are estimated to be around ₹130 crores – a major investment.

Dehradun will see the construction of a Perfumery and Aroma Laboratory. Moreover, the Himalayan Culture Centre will have a state museum to attract tourists.

What better connectivity means for real estate in Uttarakhand

Roads play the most important role for development, particularly in the mountainous terrains of Uttarakhand. With better connectivity, one can assume that people will be drawn to the state. Both commercial and residential properties will see major growth as transportation of materials will be easier. 

Better development means more properties and progress. Since Uttarakhand is famous for its tourism industry, one can expect hotels, resorts and restaurants to pop up in the area. Real estate homestays like Airbnb and hostels will also grow since more tourists are opting for homestays. 

Furthermore, better connectivity also means that there will be migration. India is already in the throes of migration and any promise of higher employment and progress will boost migration in that area. This will automatically lead to a boost in residential properties in the area. Rainwater harvesting and wildlife conservation are key attractions for people wanting to settle down in the beautiful state of Uttarakhand.

Conclusion: How will it boost reality?

Uttarakhand is the most beautiful and tourist place. Still, real estate is not booming. The reason is employment, infrastructure and demand. Steps by the government on development and infrastructure will boost employment and migration of the people here. which will increase the demand of homes and it will also give a boost to rental housing.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.