Dhule, formerly called Dhulia, is a city located in the northwest province of Maharashtra, bounded by the Berar, Nemad, Aurangabad and Bhir districts.
From its agriculture-oriented economy, this city has grown into a commercial centre as it witnessed several industrial advancements, especially in cotton textile mills and small-scale manufacturing industries. These industrial developments in the area continue to draw many people to search for employment opportunities in Dhule.
With a literacy rate of 87.86%, Dhule is home to several prominent educational institutions and, thus, attracts many students from nearby cities. The city has a well-planned township and proper availability of social infrastructure, amenities and recreational centres.
Lastly, if you are looking for a safe and sound place for residences with high-prospect properties, Dhule can be a perfect option. Its crime rate is 172.46, far lower than the nation’s average rate of 445.9. All of these factors make this city a perfect place to invest in residential real estate.
The section below discusses all the facilities provided by Dhule in detail. Read on to learn how and where to invest in residential properties here.
Top Reasons to Invest in Dhulia Real Estate
- Tourist Accommodation
Dhule has a rich history and is home to various ruined forts and temples, which are visited by hundreds of tourists every year. Therefore, Dhule can be an excellent option if you are looking to earn passive income by renting residential real estate to tourists. Some of the prominent tourist places in Dhule are Laling Fort, Songir Fort, Bhamer Fort, Thalner Fort, Ekvira Devi Temple, etc.
- Premium Educational Institutions
Dhule has some renowned colleges and universities like RC Patel Institute of Technology, College of Agriculture, Government Polytechnic College, etc. Therefore, many families move into this city to ensure that their children get the best education facilities. These educational institutions are well-connected to the entire city via roadways and railways, making them easily accessible to all its residents.
- Transport and Connectivity
Dhule is one of the lucky cities located near the three highway junctions in Maharashtra. Residents of Dhule can easily board state or privately owned buses to travel to the major cities of Maharashtra and Gujarat. Mumbai, Pune, Indore, Surat, Nagpur, etc., are connected to this city via NH 3, NH 6 and NH 211.
The nearest railway station is the Dhule Railway station which connects Chalisgaon Railway Junction, which halts 44 trains facilitating inter and intra-state transit.
Lastly, its citizen can access the Chikkalthana Aiport 132 km away in Aurangabad to travel to Hyderabad, Mumbai and New Delhi.
Residential Real Estate Investment Opportunities in Dhulia
If you are looking to invest in residential properties in Dhulia, the following are some of the best residential localities:
Deopur is among the most renowned locality in Dhule because of its sound urban infrastructure and availability of all modern amenities. The city’s top healthcare services, like Munot Hospital, Thakare Hospital, etc., are located here.
Furthermore, the locality has abundant stores, marketplaces and auto-rickshaws for easy transportation.
The prices of residential properties vary from ₹2,267 to ₹3,500 per square foot.
You may consider Shirpur for investing in residential real estate in Dhule. The locality has access to some well-known schools, namely RC Patel Primary and Secondary Schools, KVTR CBSE School, NP School No.2, etc.
You can also enjoy the seamless availability of water and electricity, making the locality more demanding among real estate investors.
The prices may vary from ₹4,947 to ₹5,000 per square foot.
Things to Consider before Investing in a Residential Property in Dhulia
You may consider the following factors while selecting a residential real estate in Dhule:
Safety must be the foremost criterion for purchasing residential real estate. To determine a city’s crime rate, you may refer to its average crime rate. In the case of Dhule city, the crime is by far lower than the nation’s average crime rate, which provides a safe environment for you and your loved ones.
- Builder’s Reputation
One of the smartest decisions while looking for residential real estate is to check the builder’s reputation, as it determines a property’s worth. You can easily profile builders based on their past projects, goodwill amongst past clients and developer reviews and ratings.
- RERA Authenticity Check
The Real Estate Regulatory Authority (RERA) is a statutory body formed under the Real Estate (Regulation and Development) Act 2016, which ensures transparency in the real estate industry, thus eliminating any discrepancies or disputes.
To check for a builder’s authenticity in Dhule, you may refer to Maharashtra’s RERA portal.
Stamp Duty in Dhulia
Following are the stamp duty charges in Dhule, Maharashtra
|Within the municipal limit of an urban area||Within the limit of a municipal council of an area within MMRDA||Within the limit of Gram Panchayat|
|Male||6% of the property value||4% of the property value||3% of the property value|
|Female||5% of the property value||3% of the property value||2% of the property value|
Registration Charges in Dhulia
The registration charges in Dhule are as follows
Dhulia Residential Real Estate Sector: What’s the Forecast?
Several infrastructure development projects are underway in and around Dhule, which are aimed to aid economic upliftment and promote quality of life for the residents of Dhule city.
The Union Minister of Road Transport and Highway, Sri. Nitin Gadkari has announced the construction of seven roadway projects worth ₹1,577 crore, which would include the Dhule administrative area. Furthermore, as per his statement, works on the 6-lane Gonde-Pimpri-Sado section are also in the pipeline.
In addition, the Union Minister has inaugurated 2 new National Highway projects in Dhule worth ₹1,792 crore, which is expected to add to the city’s economy and generate employment opportunities. The National Highway has been precisely planned to cater to the city’s ease of transit for agricultural goods and tourists in Dhule and Nandubar.
Lastly, Dhule city has been under the radar of various consumers and potential real estate investors. This is thanks to the CREDAI’s (Confederation of Real Estate Developers’ Associations of India) recent Shelter Expo. This will allow builders and real estate stakeholders to benefit from real estate investments in luxury and affordable housing.
All these factors state that the city of Dhule is recently undergoing tremendous infrastructural development. Therefore, for the foreseeable future, the real estate sector in Dhule will continue to provide more opportunities.
Residential Real Estate vs Other Asset Classes
The following section compares residential real estate to various asset classes:
Residential Real Estate vs Bonds
Bonds are debt instruments issued by companies in exchange for funds received from investors. The issuer (company) promises to pay back their debt with a certain percentage of interest. Bonds, especially those issued by highly rated companies, are typically low-risk investments. However, residential real estate offers much higher returns over time compared to low interest from bonds.
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Residential Real Estate vs Gold
Gold investments are movable assets which makes them difficult to manage and vulnerable to theft and forgery. In contrast, residential real estate is immovable and a lot safer. Furthermore, residential real estate can generate larger returns than gold.
Residential real Estate vs Commercial Real Estate
Commercial real estate is better in terms of price appreciation over time than residential real estate. However, they are exposed to higher credit risk. Residential real estate also attracts tax benefits, which are generally exempted in the case of commercial real estate.
Residential Real Estate vs Mutual & Stocks
Stocks and mutual funds are known to have the potential to yield higher returns. However, they are volatile and subject to market risk. In contrast, residential real estate is a lot safer investment and requires lesser research before investing.
Steps to invest in Residential Real Estate in Dhulia
Follow the below-mentioned steps to start investing in residential real estate in Dhule:
Step 1: Allocate a suitable budget for purchasing residential real estate.
Step 2: Look for promising localities which offer all the basic urban amenities and facilities.
Step 3: Shortlist some residential properties considering all the factors that cater to a quality life.
Step 4: Conduct a site inspection to determine the prospect value and market price of the property. You may consult a professional to evaluate on your behalf.
Step 5: Once you are done with the steps mentioned above, finalise a residential property to invest in. Keep all the required documents and official papers at your disposal.
Step 6: Appoint a legal assistant to proceed through the documentation to avoid any contract loopholes or discrepancies.
Step 7: Finalise the deal by paying the seller and pay the stamp duty, registration charges, professional assistance fees and any other liable charges.
Step 8: Get the property insured to safeguard yourself from financial losses in the event of damage to the property.
The city of Dhule is recently undergoing urban infrastructural development, which promises lucrative returns on real estate investment. With the addition of 2 new National Highways, as stated above, the city is expected to enhance connectivity to the Ajanta Caves, Daulatabad Fort, Gautala Sanctuary, etc.
The move promises to provide a further boost to the tourism sector, which contributes majorly to the city’s economy. This would create an excellent opportunity for investors to rent out tourist accommodations and earn a high passive income.
Frequently Asked Questions
What is the language spoken in Dhule?
The official language spoken in Dhule is Marathi, whereas the people from the villages speak Ahirani, a dialect of Marathi. However, the residents can communicate in Hindi and English. Therefore, visitors will not face any issues regarding communication.
What is the stamp duty?
Stamp duty is the legal tax that has to be paid to the State Government to validate a property transaction and handover.
Is residential real estate a safe investment option?
Residential real estate is comparatively safer than many securities, especially equity-related ones. However, property disputes and discrepancies may negatively affect its valuation. Therefore, you must always check for RERA authenticity before purchasing residential real estate.
Can I add multiple co-owners for my purchased real estate?
Yes, you can add multiple co-owners for your purchased residential real estate by mentioning it in the sales deed.