Guide for Dindigul Residential Real Estate Investment￼
Dindigul, located in Tamil Nadu, is an evolving residential area. It is located in close proximity to Chennai, Madurai and Karur. This city has gained popularity in the industry of safety lock-making, which constitutes one of its best features. Moreover, it also houses industries of leather tanneries, textiles, etc.
Apart from being an industrial hub, Dindigul is known for its superior connectivity and transport facilities. Large National Highways pass through this city, like NH 44, NH 45A and NH 83. The 2011 Census reports that Dindigul has a total population of 285,000 as of 2023. Residents are attracted to the transport convenience of this area.
Read along for a complete overview of Dindigul’s residential real estate sector and its investment opportunities.
Top Reasons to Invest in Residential Real Estate in Dindigul
The current residential real estate sector of Dindigul is blooming. Here are the top reasons you should consider investing in the real estate sector of Dindigul.
- Industrial City
Dindigul is an industrial city offering a great source of employment for the residents. The main industry here is undoubtedly that of the safety lock business. Locks are one of the most popular products here. Apart from that, textile spinning, leather tanneries, and administrative services are also common here. Agricultural machinery and trading are also popular here. Additionally, the banking sector and educational institutes are also growing here.
- Location & Transport
Dindigul offers excellent connectivity and transport facilities to the residents. NH 44 and NH 45A connect it with Madurai and Kanyakumari. About 150 town buses are operating across 128 countries. There is also a significant truck transport service, whereby 400-500 trucks enter the town for loading and unloading activities.
- Local Facilities
Various local facilities make this place popular among the residents. You can find educational institutes like the Gandhigram Rural Institute, GTN Arts College, RVS College of Engineering and Technology and MVM Arts and Science College. Moreover, it offers healthcare services like Dharshini Hospital and St. Joseph Hospital.
Dindigul takes pride in its safety lock manufacturing business, ensuring the complete safety of residents. Moreover, the police forces are also easily available, who look after the well-being of the residents in this area. There are over 21 police stations here that are responsible for looking after the residents and their safety.
Residential Real Estate Investment Opportunities in Dindigul
Here are some areas in Dindigul you can consider for investment opportunities in the field of residential real estate.
- NS Nagar
It is a popular locality in Dindigul, offering good properties and amenities. Chettiyapatti Rail Way Station is close, which ensures good transport. Additionally, bus service is also excellent here, with KR Nagar Entrance being the nearest bus stop. Apart from great hotels and restaurants, you can find hospitals like Agaram Ugaram Siddha Maruthuvam in this area. A 2BHK property starts from ₹ 47 lakhs here.
It is another popular residential area, also spelt Settinaickenpatti. Chettiyapatti Rail Way Station is the closest, which ensures proper connectivity. Apart from temples and mosques, this area has good theatres, hotels and restaurants. MVM Government Arts and Science College and Achyuta Public School are also close. You can get a 2BHK apartment starting from ₹40 lakhs here.
A suburb of Dindigul, Vedasandar is evolving as a popular residential area. It offers affordable properties along with multiple local amenities. Nearby educational institutes include St Patrick Academy Matriculation School, Vivekanandar Vidhya Mandir CBSE School and Sri Sai Bharath College Of Education. Moreover, Eriodu Railway Station is the nearest one. A 2BHK apartment starts from ₹ 17 lakhs here.
- EB Colony
It is a pleasant and pollution-free locality in Dindigul. Dindigul Junction Railway Station is nearby, which enhances transport facilities. There are many schools and colleges here, such as Jk College Of Education, ICFAI National College, and Sachan Matric School. You can get healthcare support from Saranam Iyappa Hospital. A 2BHK apartment starts from ₹ 18 lakhs in this area.
A small town in the Nilakottai block of Dindigul, which is closely associated with agriculture. Besides good bus services, Kodaikanal Road Railway Station is the nearest one. You can find some good educational institutes here, such as First Step Public School, Mount Zion Matriculation School, SAIS Academy, etc. You can find 2 BHK apartments starting from only ₹ 17 lakhs here.
Things to Consider Before Investing in a Residential Property in Dindigul
While investing in residential real estate properties can be beneficial from multiple aspects, here are a few things you should consider before purchasing properties in Dindigul.
- Local Environment
It is essential to check the local environment of the chosen property. Some areas often experience excessive traffic, as the National Highways are in close proximity. Moreover, the environment also might seem polluted due to the rapid urbanisation tactics and car emissions. You need to choose an environment free of such issues.
- Builder Reviews
It is essential to consider the reviews and reputation of the builder of a property before going ahead with it. If the builder is entirely new, there are possibilities of problems with the construction quality. Therefore, avoid choosing such buildings that are offering suspiciously low prices.
- Infrastructure & Amenities
Dindigul is still developing with a rapid urbanisation strategy. However, there are few rural areas which are yet to develop fully. Being in a developmental stage schools and colleges might be located far but transport is easily available to reach such destinations.
- RERA Authentication
The Real Estate Regulatory Authority (RERA) is a statutory body that keeps track of the transactions between buyers and sellers of real estate properties. The government came up with it to ensure fair and transparent transactions. Check out the website of RERA Tamil Nadu to ensure that your chosen property is registered here.
Stamp Duty in Dindigul
Before investing in residential real estate properties, it is essential to know the stamp duty charges. Here are the charges you need to pay in Dindigul.
|Type of Property Document||Stamp Duty Charges|
|Gift deed||7% on the market value of the property|
|Exchange deed||7% on the market value of the property|
|Conveyance or sale deed||7% on the market value of the property|
|Simple mortgage deed||1% on the loan value|
|Mortgage with possession||4% on the loan value|
|Cancellation deed||₹ 50|
|Sale agreement deed||₹ 20|
|Partition within family||1% of market value|
|Partition among non-family members||4% on property market value|
|Building construction deed||1% consideration made on an agreement or on construction value, whichever is highest|
|General power of attorney for selling immovable property||₹ 100|
|General power of attorney given to a family member for selling immovable property||₹ 100|
|General power of attorney for selling movable property||₹ 100|
|General power of attorney for consideration||4% of the consideration|
|Partnership deed when the capital is up to ₹ 500||₹ 50|
|Partnership deed in other cases||₹300|
Registration Charges in Dindigul
Buyers must also pay registration charges when purchasing new properties. Here are the charges in Dindigul.
|Type of Property Document||Registration Charges|
|Gift deed||4% on property market value|
|Exchange deed||4% on property market value|
|Conveyance or sale deed||4% on property market value|
|Simple mortgage deed||1% on the loan value|
|Mortgage with possession||1% on the loan value|
|Cancellation deed||₹ 50|
|Sale agreement deed||1% on advance money|
|Partition within family||1% of market value|
|Partition among non-family members||1% on property market value|
|Building construction deed||1% of consideration as per agreement or construction value, whichever is highest|
|General power of attorney for selling immovable property||₹ 10,000|
|General power of attorney given to a family member for selling immovable property||₹ 1,000|
|General power of attorney for selling movable property||₹ 50|
|General power of attorney for consideration||1% of on consideration or ₹ 10,000, whichever is the highest|
|Partnership deed when the capital is up to ₹ 500||1% on capital invested|
|Partnership deed in other cases||1% of capital invested|
Dindigul Residential Real Estate Sector – What’s the Forecast?
Dindigul is evolving as a residential area with its industries and connectivity. As of the first quarter of 2022, 70,623 units were sold in the real estate sector of Tamil Nadu, showing a 7% annual growth from the previous year. Tamil Nadu RERA reported a profit of ₹ 13,914 crore from registering new properties in FY2022.
Various new residential projects are yet to come up in Dindigul. Some of these are Sankar Yeses Apartments, Diamond Valley Phase II, Maple Front, Rose Garden, and others. Property rates are quite affordable here, starting from only ₹ 833 per sq. ft., which can go up to ₹ 5,888. This shows that the future of residential real estate will be bright for Dindigul.
Residential Real Estate Vs. Other Asset Classes
You might wonder how investing in residential real estate properties can be profitable. Here is a comparison between such properties with other asset classes.
- Residential Real Estate vs Commercial Real Estate
Commercial real estate properties are mainly rented to individuals or groups who are planning to run a business. These offer better returns, as the properties are used for commercial purposes. However, finding suitable tenants for such properties can be difficult. Moreover, residential properties offer better tax benefits than commercial properties.
- Residential Real Estate vs Bonds
Bonds are great investment options. They generate moderate returns, which hardly fluctuate according to the market conditions. Although the returns are higher in residential real estate properties, bonds offer fixed returns, and the risks are also much lower.
If you wish to invest in bonds at low risk, browse our home page for a list of top-rated bonds trending in the market.
- Residential Real Estate vs Stocks & Mutual Funds
Stocks and mutual funds have been popular investment options for a long time. These are known for generating high returns on investment. However, the problem is with their volatile nature. Fluctuating economic conditions can change the returns, increasing investment risks. This risk is much lower in residential real estate properties.
- Residential Real Estate vs Gold
Gold, being a valuable metal in India, has been a popular investment option. It is used to prepare jewellery items, which can later serve the purpose of an asset. People often prefer gold as an investment opportunity because liquidating it is easier. However, residential real estate properties can generate better returns than gold items.
Here is a table comparing residential real estate properties with other asset classes for an in-depth comparison.
|Parameters||Residential Real Estate||Stocks & Mutual Funds||Gold||Commercial Real Estate||Bonds|
Steps to Invest in Residential Real Estate in Dindigul
Here are the steps you can follow while investing in the residential real estate properties of Dindigul.
Step 1: Plan your criteria for a residential real estate property. Fix a budget.
Step 2: Conduct research into the current real estate market and shortlist properties based on your requirements and budget.
Step 3: Visit the locations and inspect the local environments. Consult professional brokers and gain reviews about the chosen properties.
Step 4: Make a final choice and meet the seller. Complete all the payments, including stamp duty and registration charges.
Step 5: Consult a lawyer and assess all the documents. Keep their copies.
Step 6: Finish the process by getting an insurance policy for your property.
Hopefully, that gives you a comprehensive account of the current investment opportunities in the residential real estate sector of Dindigul. It is known for having multiple business industries and excellent transport facilities. Investing in properties in this area will be beneficial for generating good revenue.
Frequently Asked Questions
What are some good residential areas in Dindigul?
While there are many good residential areas in Dindigul, NS Nagar, Vedasandur, and EB Colony are some of the most popular ones.
What is the price of real estate in Dindigul?
Currently, the price of real estate is about ₹ 833 – ₹ 5,888 in Dindigul. On average, the price is about ₹ 3,184 per sq. ft.
What are some essential documents when investing in the real estate of Dindigul?
When purchasing real estate properties, you need essential documents. Some of these are the sale deed, title deed, sale and purchase agreement, possession letter, completion certificate, etc.
Is it profitable to purchase real estate in Tamil Nadu?
With a strong urban planning, Tamil Nadu is emerging as a powerful state. Purchasing properties here can be profitable in the future as its price rises.