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Shimla Real Estate

Shimla Real Estate is presently on the verge of a boom phase; property prices in Shimla are increasing every passing day.

Shimla city has a temperate climate and it is well connected with the rest of India by good quality and well maintained roads. Shimla city has cheap power. All these factors make Shimla an ideal investment destination. The increased investment scenario has also given rise to the proper development of Shimla Real Estate.

Investments in Shimla Real Estate are done primarily for constructing getaways -viz. hotels and lodges. But speculative investments are also being seen in Shimla Real Estate; profit booking has already started on property in prime tourist areas.

Outsiders cannot invest in non-agricultural land in Shimla on their own; Shimla Real Estate laws prohibits any outsider i.e persons residing outside the region or state of Himachal Pradesh to buy (or sell) any land for speculative activity; only sons of the soil like native Himachalis can buy, sell or invest in Shimla Real Estate. However for all practical purposes outsiders are buying and investing in Shimla real estate-it is being done by forging a business partnership with the locals.

Shimla real estate falls into the prime Zone A category of the Himachal Pradesh property zone; built up structures for sale in urban areas within this zone of Shimla requires no state permission; only permission in rural areas are a compulsory affair. Outsiders can purchase property up to a certain limit: 500 square meters or 5,376 square feet in urban areas.

Shimla Real Estate will show real development if such stringent controls are relaxed. The flip side of such a move will be the increased pollution of the ethereal Himalayan countryside.

Last Updated on : 4/10/2012

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