Guide for Raebareli Residential Real Estate Investment

One of the prime cities in Uttar Pradesh (UP), Raebareli has numerous industries offering employment opportunities to local as well as national citizens. It is also famous for its rich cultural heritage, which also holds an indelible mark in Hindi literature and arts. 

You can find several popular schools, colleges, hospitals, markets, malls and restaurants in Raebareli. All these make this city an important residential place, rich in all sorts of amenities. You should keep in mind some specific points before purchasing a house in this city.

Keep reading to know some of the major reasons why residential real estate investments in this location can be profitable for you.

Top Reasons to Invest in Residential Real Estate in Raebareli

Below are some top factors you can consider while investing in residential real estate in Raebareli:

• Seamless Connectivity

Raebareli is well connected to other cities and states via road, railways and airways. Some of the popular roads that go along this city are NH 30, NH330A, NH31 and NH128. Moreover, for airway travelling, Chaudhary Charan Singh International Airport, Allahabad Airport, and Varanasi Airport are also nearby. You can also get Raebareli Junction from where you can onboard trains to travel to faraway destinations.

• Top Education Centres

There are some popular schools in this city where you can enrol your children to get the best-in-class education. These include Kendriya Vidyalaya, Ryan International School, and SJS Public School. You can also find top colleges in this city, such as All India Institute of Medical Sciences, Raebareli (AIIMS), National Institute of Fashion Technology (NIFT), National Institute of Pharmaceutical Education and Research, Raebareli (NIPER), Rajiv Gandhi National Aviation University (RGNAU), Footwear Design and Development Institute (FDDI), and so on.

• Best Healthcare Facilities

Some of the top private hospitals in Raebareli city are Aarogya Hospital, D P Bora Superspeciality Hospital, Meditva Hospital, J N Hospital, etc. Moreover, there are government hospitals like Government Ayurvedic Hospital, Siddhi Vinayak Hospital, Aradhya Hospital, and so on. Thus, in case of medical emergencies, you can rush to these hospitals to get immediate treatment from experienced doctors. 

• Numerous Entertainment Opportunities

You can find a plethora of restaurants and shopping malls in this city where you can spend some quality time with your loved ones. Some of the popular malls here are City Cart Shopping Mall, Ashutosh Shangar Kendra, Saquib Mall, and so on. Besides this, you will get some of the top quality restaurants such as Spice Hut Restaurant, Govind Family Restaurant, Vrindavan Food Plaza, New Bati Sweets And Family Restaurants, etc. 

Investment Opportunities in Residential Real Estate in Raebareli

Here are some popular locations for residential real estate properties in Raebareli:

• Gora Bazar: This locality has all the necessary amenities that you will require to lead a convenient and smooth lifestyle. There is a hospital, several medical stores, schools, and general stores. So, you can stay assured that for your daily requirements, you do not need to travel far away. 
• Lalganj: The famous Baiswara Degree College is located in this area itself. So, you can easily get students as your tenants if you rent out your house or flat. Moreover, there are several necessary amenities nearby, including shopping malls, food and grocery stores, markets, etc.
• Jawahar Vihar Colony: It can also be an excellent location for your real estate investment in Raebareli. There are a few medical facilities and a college nearby. Besides this, you can get all the basic civic amenities from nearby locations.

Things to Consider before Investing in a Residential Property in Raebareli

There are some crucial things that you will need to consider before investing in residential real estate properties in Raebareli:

• Safety of the Locality

You can consult the local police officers and neighbours to get an idea about the crime rate within the locality where you intend to purchase the residential property. Otherwise, if you purchase a property in a location with high criminal activities, it will be difficult for you to resell it or find tenants for it. 

• RERA Authentication

The Government introduced Real Estate Regularity Authority Act 2016 to curb property-related fraud. According to this Act, every state, including UP has a RERA portal. All you will have to do is log in to the RERA website using your credentials to check the authenticity of the property details. This way, you can stay protected from fraudsters.

• Affordability of Property 

You must check out the amount of money that you will need overall to complete the purchase of your property. Remember to include the registration and brokerage charges as well. This way, you will ensure that you do not cross the budget and make the purchase, thereby facing a financial crisis thereafter.

• Easy Connectivity to Other Parts

You should ensure that the locality that you are selecting has proper facilities for commuting to different cities and states. For this, you simply need to check if there are nearby railway stations, highways, airports and so on. Otherwise, you can find it challenging to make inter-city or intra-city travel. 

Stamp Duty in Raebareli

The stamp duty charges that you will have to pay before purchasing a residential real estate property in Raebareli are as follows:

Registration Charges in Raebareli

You will also have to pay a certain registration charge after purchasing a property in Raebareli:

Raebareli Residential Real Estate Sector – What’s the Forecast?

There are several upcoming residential real estate projects on Raebareli Road, including Unimark Sparsh Mega City, NDL Capital Tower, Omaxe Hi Street, Omaxe Metro City, and so on. After these developmental works are complete, you can see a significant boom in economic activities as well as a rise in the demand in the real estate sector of Raebareli.

Residential Real Estate vs Other Asset Classes

Here are some crucial differences between residential real estate and other common asset classes:

• Residential Real Estate vs Gold

You can liquidate your investment in gold at any point in time. However, the market price of this yellow metal is highly volatile. On the other hand, if you intend to ensure a relatively stable earning over the long and short term, you can go with investing in the real estate market.

• Residential Real Estate vs Commercial Real Estate

Although commercial real estate provides higher returns than residential real estate, it can become difficult to find the right tenant or buyer for it. However, for residential properties, you can easily find a tenant. Also, you can avail tax benefits for purchasing a residential property by taking a home loan.

• Residential Real Estate vs Stocks and Mutual Funds

Stocks and mutual funds are highly volatile and hence high risks are associated with them. So, if you invest without proper research, there are huge chances of incurring an excess loss. However, the associated risk is negligible for your investments in residential real estate. Also, it can provide you with generous returns over the long term. 

• Residential Real Estate vs Bonds

Investments in bonds come with moderate risk and allow you it helps you grow your money at a relatively stable interest rate. However, residential real estate can act as a source of passive income and allows you to pocket rental income.

The table given below compares the above asset classes based on their liquidity, volatility, risks and ticket price.

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Steps to Invest in Residential Real Estate in Raebareli

You can follow the steps below to invest in residential real estate property in Raebareli:

Step 1: Estimate the amount that you would like to invest in purchasing the house. 

Step 2: Search both online and offline to shortlist a few properties.

Step 3: Go for an on-site inspection to check if the property if the locality is clean and safe.

Step 4: Have a word with a consultant to know whether the selling price is justifiable.

Step 5: Log in to the RERA portal to ensure the authenticity of that property.

Step 6: Calculate the total money that you will have to pay before finalising the deal.

Step 7: Pay the property price, stamp duty, registration charges and brokerage.

Step 8: Arrange all the necessary papers like property assessment extract, encumbrance certificate, title deed, etc., for property registration.  

Step 9: Finally purchase an insurance policy for your home to stay financially covered in case of any mishaps. 

Final Words

Investment in residential real estate can provide you with stable returns. However, due to the availability of numerous locations, it becomes essential that you select a house after conducting a thorough check on the locations. Also, if you purchase the property near a college, you can rent out your property. This ensures the generation of extra money every month that can act as an additional source of income.

Frequently Asked Questions

1. What are the employment opportunities in Raebareli?

There are numerous industries that provide you with immense employment opportunities. These include Feroz Gandhi Thermal Power Project, Indian Telephone Industries, Birla Cement Factory, Nandganj Sirohi Sugar Mill, Shree Bhawani Paper Mills Limited, etc.

2. What documents are needed for property registration in Raebareli?

Some of the crucial documents required for property registration in Raebareli are KYC documents of seller and buyer, PAN cards of all parties, copies of Certificate of Incorporation for buyers and sellers, copies of the property registration card, copies of the municipal tax bill, etc.

3. What are the nearby police stations present in this area?

Some of the nearby police stations in Raebareli are Lalganj Police Station, Ali Miya Chowk Police Station, Mahrajganj Police Station, etc. You can instantly approach them in case you are facing any trouble. Also, this helps in ensuring the safety and security of the residential area. 

4. What documents will I receive on purchasing a residential property in Raebareli?

After transferring the property in your name, you will receive some crucial documents from respective authorities. These include a No-Objection Certificate (NOC), possession letter, mutation register extract, copy of building plan, a general power of attorney, allotment letter, encumbrance certificate, property tax receipts, payment receipts, completion certificate, sale deed, etc.