As you enter Rudrapur, construction activity is visible all around as mega housing projects mushroom on what, till a couple of years earlier, were paddy fields. The impetus to Rudrapur’s real estate market comes primarily from the massive industrial development that has taken place here over the past five years. And this industrialisation began with the Uttarakhand government allocating 3,339 acres for the development of the State Industrial Development Corporation of Uttaranchal Limited (SIDCUL) industrial area, Rudrapur.

Well connected
Rudrapur is well connected to the National Capital Region, Dehradun, and to cities like Moradabad and Rampur. This makes it an ideal investment destination for residents of Kumaon region, and for investors from the rest of the country and even abroad.

High demand expected
While currently the demand for apartments may not be very high, developers are undertaking projects in anticipation of the demand they expect as more and more companies shift into Sidcul area over the next three years.

According to a status report of the Integrated Industrial Estate (IIE), Pantnagar, which appeared on April 20, 2007, 465 plots have already been allotted in Sidcul. Of these, 394 industries have already executed lease deeds and taken possession of their plots, and 57 companies have started production. These 57 companies employ 8,563 people. These numbers are expected to multiply as more industries start operations. Once all the units begin operation, the Sidcul area is expected to provide employment to over 44,000 people.

With companies like Tata, Bajaj, HCL, HP, Voltas, Dabur, Escorts, and Britannia coming in, demand for residential apartments and plots will increase. A major incentive for industries to shift here is that Uttarakhand is a power-surplus state.

At present most under-construction residential projects are at a nascent stage, and the supply of ready-to-move-in apartments is limited. Awas Vikas, Model Colony, Singh Colony, Adarsh Colony, and Indira Colony are some of the prime localities in the town. Of these, Awas Vikas is a well-organised colony.

Rising prices
There was an artificial boom earlier, but that has been corrected. Land for group housing was available in February 2006 for Rs 25 lakh per acre. By July 2006 it had appreciated to around Rs 1.25 crore per acre. But such a high price was not sustainable. The bubble burst in October 2006, and the rate has now settled at a more realistic Rs 60,000-70,000 per acre.

Similarly, the price of individual plots, which was around Rs 4,000 per sq yd in early 2006 rose to Rs 8,000-9,000 by July. It is down to Rs 4,500-6,000 per sq yd now.

Apartments: After rising sharply during the last one year, apartment prices have dipped. The current builder rates of apartments range between Rs 1,450-1,800 per sq ft.

Rentals
Due to increased demand and limited supply of ready-to-move-in flats, rentals have risen very high. For a one-room accommodation, the rental is Rs 3,000 per month. For a two-bedroom apartment it ranges between Rs 6,000-10,000 per month. Rental for a three-bedroom apartment goes as high as Rs 10,000-20,000 per month.
Read more
Reply
2 Replies
Sort by :Filter by :
  • hi everyone,
    i am a new member. could anyone confirm if there are any basic requirements such as minimum posts required to send a pm message?
    CommentQuote
  • A very old paid news atricle, Rudrapur has industry but not that hype, it will take time to develop this town
    CommentQuote