Why you should have a property in Nainital?Apr 16, 2018
As a searing heat wave sweeps through the plains, the highway to the hills of scenic Nainital is packed with traffic. A report dated 7th June 2016 in the Hindustan Times says “ The famous hill station is bursting at the seams as up to 50,000 vehicles are reaching the city on weekends and all hotels are filled to capacity…..Police say that they put up boards saying Nainital has reached its full capacity of tourists and that all hotels are full”. The road between Haldwani and Nainital which normally takes about an hour is now facing 5 hr long traffic snarls.
In such a scenario having your own apartment in Nainital will take care of the hassle of finding a decent place to stay during the peak holiday season. Builders have lined up with projects at picturesque destinations scattered across the district of Nainital, and there is something to suit every budget and requirement.
A small flat in Nainital can be the perfect getaway for short durations. If you are looking for longer periods of stay, or a retirement home then investing in a villa or cottage at Nainital can be a source of joy for the entire family for generations to come. Just make sure that this is located away from the tourist crowds for your peace of mind!
A home in the hills is a dream for most of us and more so now when the pollution, heat, traffic, crowds and noise of the cities is taking a toll on our health. We long to get away to the serene hills to rejuvenate both mentally and physically. A driving distance of barely 7-8 hours from Delhi takes you to Nainital with its stunning locales and cool temperatures which remain around 23°-24° C even in peak summer.
Another dimension is the possibility of financial returns as the rental income at Nainital during peak seasons is an extremely lucrative proposition. As you can see from the report in Hindustan Times, the demand for rooms far outstrips supply. A very average room at any ordinary hotel will be no less than Rs 2000-2500 per day. A cottage will be at least Rs 4000/- per day. The peak summer season extends through the months of May, June, and July. The places like Sunderkhal etc in Nainital district, which see regular snowfall in winter, are a big attraction for tourists during the months of December and January. Simple maths will show you the enormous earning potential from a property in Nainital during these seasons.
Property prices are going up in this region as builders and buyers are flocking to Nainital. A rise in disposable income, more people looking for a better quality of life, and the proximity to Delhi and Chandigarh, are also pushing up the prices day by day. Thus buying a residence in Nainital now, would be a smart move which will pay rich dividends both as a holiday home and as an investment option for years to come.