Things to Keep in Mind Before Purchasing a Property in a Hill Station
Imagine getting a deep breath of fresh air each morning while waking up to a beautiful view of hills. This is possible if you own property in a beautiful hill station like Coonoor. Many individuals purchase homes in hill towns in India to enjoy their retirement years away from the hectic pace of the city. These vacation places have evolved into cutting-edge hotspots for expanding real estate prospects as a result. Hill stations are no longer only used as holiday spots but also have popular locations for second homes and after-retirement destinations for many. However, because of the difficult terrain and numerous issues with building and quality, buying a house in the hills might need extensive research. If you are looking to buy house in Coonoor or in any other hill station in India, you must keep a few things in mind so that the buying experience is seamless and free of worries.
Possibilities of future growth
It’s crucial to take into account the property’s current and potential future demand when making a house purchase in the hills. The value of your home may be positively or negatively impacted by the construction plans of other homes in the area of the site you have chosen. If you’re interested in learning more about the future plans, speak with local real estate agents that are active in this field as well as other real estate experts. Choosing a location for a property that will someday lose value serves no purpose.
Location of the property
No matter if you are buying the property to use yourself or for rent or other commercial purposes, make sure the location of the property you are purchasing in the hills is very good. There are many properties in hills as well which are located behind other properties and have zero scenic value. A property in the hills which has no scenic value is of no use at all. This is because if you live there, you will never be able to enjoy the scenic beauty of the hills and if you use it for commercial purposes, you will not get good returns because no guest would like to stay in a holiday home from where nothing is visible. So, make sure that you choose the prime location if possible. Also make sure that the location is easily accessible from everywhere
Construction quality of the property
In comparison to flat plains, construction on hills is significantly trickier and complicated. As a result, you should ask the builder and seller about the property’s building quality and perform a thorough inspection of all its components. Before purchasing the house, find out what materials were used in the building and examine the drain systems and outdoor landscaping. No matter where you purchase a property, the quality of the construction must be top-notch and not be compromised at all.
Check about seasonal damages if any
As you are aware, the topography and soil composition of hill stations make them vulnerable to natural disasters. As a result, you must ask about any seasonal harm, such as landslides and water stagnation from the monsoon season. Additionally, check that the home provides additional necessities like year-round access to water. If you are looking to buy luxury villas in coonoor, you must remember that it costs huge to buy a luxury villa and you must not leave any stone unturned to make sure that there are no seasonal damages whatsoever in the property.
Try for a housing loan if possible
Sitting with cash is the best thing you can do in this unpredictable world today. For this, you should choose how to fund the purchase before looking around for suitable hill station properties. Since purchasing real estate involves a large financial investment, you must choose a strategy that doesn’t compromise your financial stability. Therefore, taking out a house loan is the best option for buying property in a hill station since you won’t have to spend all of your cash and you will be the owner of the property in a few years.
Property must be cleared in legal papers
Before you give the amount for the registration of the property, make sure the land and the whole property is cleared with all the government and legal documents that allows you to purchase that property in the hills. There are some restrictions by the government of India in property buying and selling in some hills so before making any decision, make sure that you verify all the documents so that you sleep in peace even after purchasing the property.
Verify everything from a lawyer
Today’s society is filled with scammers, so we must all be on the lookout for anything that might come back to haunt us. The amount of cheats is just double when it comes to real estate, especially in India. Simply contact a lawyer, pay him his fee, and make sure you examine each and every document related to the property of the home once you have decided to purchase a certain property in the region of your choice.
Due diligence before buying
Most likely, you wouldn’t be familiar with the hill site where you’re thinking about buying a house. In this situation, you must ask locals or brokers established in the city about the property pricing. Such research would stop you from purchasing the home at high costs. Additionally, use caution and confirm that the developers marketing the property are RERA-registered and have a legal title to it.
Ask about state restrictions if any
Most essential, you need to find out if there are any limitations on who may purchase a home in an Indian hill station. For instance, in Himachal Pradesh, land purchases by non-residents are subject to state government approval. Similar restrictions apply to the ownership of more than 250 square metres of land in Uttarakhand by outsiders. Therefore, it is advisable to find out in advance whether there are any state limits.