Saugor, or Sagar, is a small city in the Sagar district of Madhya Pradesh. The location is picturesque, as it is about 1,758 feet above sea level on the Vindhya Range. Recently, the Indian Government listed it under Smart Cities Mission, planning to develop it as a smart city among other hundred cities. This is increasing its demand as a residential area.
Currently, Saugor has a population of 375,000 people as per Census 2011. It offers good transport services to the residents through the Saugor railway station of the Bina-Katni line. Moreover, it offers great local facilities, including schools, colleges, hospitals and shopping malls. This has helped it grow as a residential area.
Keep reading to get a comprehensive overview of the residential real estate sector of Saugor.
Top Reasons to Invest in Residential Real Estate in Saugor
If you are confused about whether to invest in the residential real estate properties of Saugor or not, here are the top reasons to do so.
- Budget-friendly Rate
The residential real estate sector of Saugor is highly affordable as compared to the other parts of Bhopal or MP. You can find 2 BHK apartments here starting from only about ₹ 19 lakhs. Even though it is developing into a smart city, it has maintained an affordable range of properties.
- Developing City
Saugor is going to develop as a smart city soon. It is located in proximity to various industries like Rainbow Agritech India, Neeta Plantations, Jagrati Dalhan Producer, etc. The connectivity here is also effective, especially in the presence of National Highway 146. Moreover, it has a great infrastructure of transport facilities, through buses and railways.
- Local Facilities
The area offers great local amenities for the convenience of the residents. There are various educational institutes here, including St. Joseph’s Convent, Kendriya Vidyalaya, Gyan Sagar College Of Engineering, etc. There are also some reputed multinational hospitals here, such as Shraddha Shri, Nidaan and Kalyanika Hospitals. Some popular marketplaces include Katra Bazaar and the V-Mart Mall.
Investment Opportunities in Residential Real Estate in Saugor
Saugor can be a great residential area. Here are some of the most popular areas fit for investing in residential real estate properties.
It is a census town in Saugor, known for offering good quality residential properties at an affordable price range. Makronia Railway Station and State Transport Bus Depot serve as the major source of transport here. Nearby educational institutes are Greatmen International School, SSM School, and Swami Vivekanand University. The Health Centre Clinic offers good healthcare facilities. A 2BHK apartment starts from only ₹ 15 lakhs.
This residential area in Saugor offers high-quality residential options at an affordable price. Its proximity to the Saugor Railway Station and Government Bus Stand ensures transport facilities. Apart from hotels and restaurants, this area offers healthcare assistance through Hospital Vaidyaraj Ji. Blue Bells Public School is also nearby. You will find 2 BHK apartments here starting from ₹ 15 lakhs.
Located in Deori tehsil, it has gained popularity as a residential area in Saugor. BSNL Office Bus Stop is the nearest one to get buses across the town. Healthcare assistance comes from hospitals like Dr BR Prajapati. Sunshine High School is also nearby, and it is close to supermarkets like Brijlal Loha Market. Property prices start from about ₹ 25 lakhs in this area.
This residential area is mainly known for having multiple supermarkets. SR Group and Vidyasagar Shopping Super Market are some of these. Apart from that, Gyanoday Awsiya Vidyalaya and Gyanveer Institute Of Management And Science are close. Gopalganj Police Thane is responsible for looking after the residents. A luxurious 3BHK apartment starts from ₹ 97 lakhs here.
Things to Consider Before Investing in a Residential Property in Saugor
There are a few things you must keep in mind while investing in the residential real estate sector of Saugor. These are listed below.
- Local Environment
The environment in some parts of Saugor might not be as good as others. The rural and developing areas, for instance, are facing issues of lack of water, drought and pollution. Urban areas, on the other hand, suffer from traffic issues. You should inspect the local environment of the chosen property to ensure that it is free from such problems.
- Infrastructure & Facilities
Few areas in Saugor might be far from schools, colleges and hospitals. Moreover, the infrastructural developments in such areas might not be satisfactory. This makes it challenging to reside in such areas. Make sure to check the reviews of an area and its facilities before investing in its residential properties.
- RERA Registration
The Indian Government came up with a statutory body called the Real Estate Regulatory Authority (RERA) to ensure fair deals in the real estate sector. Every builder must register the property under RERA to avoid being illegal. You can check the website of MP RERA to ensure that your chosen property is registered here.
Stamp Duty in Saugor
While purchasing residential real estate properties, you must pay the stamp duty charges. Here are the charges you need to pay in Saugor.
- Stamp Duty Based on Ownership
|Gender of Owner||Stamp Duty|
|Joint ownership of two male owners||7.5%|
|Joint ownership of two female owners||7.5%|
|Joint ownership of a male and a female owner||7.5%|
- Stamp Duty Based on Document
|Type of Document||Stamp Duty|
|Lease deed||8% of the property’s total rent and deposit|
|Gift deed to family members||1% of the property’s market value (should be more than ₹ 1,000)|
|Gift deed to others||5% of the market value of the property|
Registration Charges in Saugor
Paying the registration charge is also mandatory when you are purchasing real estate properties in Saugor. Here are the charges you need to pay.
|Gender of Owner||Registration Charge|
|Joint ownership of two male owners||3%|
|Joint ownership of two female owners||3%|
|Joint ownership of a male and a female owner||3%|
Here is how you can calculate the registration charge in Saugor.
|Cost of the property||₹ 30,00,000|
|Registration charge||₹ 90,000 (3% of ₹ 30,00,000)|
Saugor Residential Real Estate Sector-What’s the Forecast?
Bhopal is probably one of the most popular residential areas in MP. Saugor located in Bhopal has naturally generated popularity. For instance, as of 2020-21, Bhopal reported a record registration for 352 new real estate projects, which reveals about 50% growth in this industry since 2019.
Various new projects are waiting in line for development in Saugor. Some of these include Shantipuram Apartment, Neelgiri, Khushal Nagar Colony, etc. The real estate cost can be highly diverse here, based on the location and facilities. In Bhopal, the price starts from only ₹ 211 and can rise to ₹ 92,857. On average, it is about ₹ 4,078 per sq. ft.
This shows that people from different income groups can find residential properties according to their budget here. It makes the real estate sector of Saugor bright and beneficial.
Residential Real Estate Vs. Other Asset Classes
If you are still unsure whether to invest in residential real estate properties, go through the following section. It compares residential real estate with other asset classes to identify the reasons.
- Residential Real Estate vs Commercial Real Estate
As the name suggests, commercial real estate properties are designed for serving the purpose of running a business. They generate higher returns, as people pay more rent to run their organisation. However, finding a suitable tenant for such properties is usually a liability. Moreover, residential real estate offers better tax benefits.
- Residential Real Estate vs Stocks & Mutual Funds
Investors often prefer investing in stocks and mutual funds. These are usually reliable and offer high returns compared to other investment instruments. However, when there are fluctuations in the economic condition, the returns become volatile. They can fluctuate highly. This problem is much restricted in the case of residential real estate properties.
- Residential Real Estate vs Gold
Almost every Indian household possesses gold jewellery items. Not only are they beautiful for fashion, but can be a great asset in times of need. As the gold price keeps growing, it has developed as both a long-term and short-term investment opportunity. It is also easier to liquidate. However, residential real estate properties generate more returns.
- Residential Real Estate vs Bonds
Bonds are good investment options if you do not wish to risk your investment. These are not volatile, and the returns hardly change due to economic fluctuations. As a result, it guarantees more or less a fixed ROI. Although the return is not as high as residential real estate properties or mutual funds, bonds can be a good option to start your investment journey.
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The following table will give you in-depth knowledge regarding the comparison of residential real estate with other asset classes.
|Parameters||Residential Real Estate||Stocks & Mutual Funds||Gold||Commercial Real Estate||Bonds|
Steps to Invest in Residential Real Estate in Saugor
The following steps will guide you through the process of investing in the residential real estate properties of Saugor.
Step 1: Plan your requirements with a fixed budget. Start collecting data both online and offline.
Step 2: Shortlist a few properties that are meeting your requirements. Start visiting their locations.
Step 3: Insect the localities and generate real-time reviews from the neighbours. Consult a broker to determine the positives and negatives.
Step 4: Make your final decision after analysing all the factors, like facilities and price. Discuss with the seller.
Step 5: Consult a lawyer and complete all the procedures legally. Keep copies of the documents with you.
Step 6: Complete all the payments. Get insurance for your property.
Thus, as you can see, investing in the residential real estate properties of Saugor in MP can be a beneficial decision for most people. As it is developing as a smart city, Saugor will soon experience a rise in the price of real estate. During this time, a property here will act as a valuable asset. Currently, it is super affordable and offers good local amenities.
Frequently Asked Questions
What is the current price of real estate in Saugor?
In Bhopal, the price of real estate is ranging between ₹ 211 and ₹ 92,857. On average, it is about ₹ 4,078 per sq. ft.
What are the top localities to buy a property in Saugor?
Makronia, Gopalganj and Tilli are some of the top localities if you are planning to invest in the real estate properties of Saugor.
Is it beneficial to invest in real estate in Bhopal?
Yes, Bhopal is beneficial when it comes to its real estate sector. It is likely to generate more profitability with time. Moreover, as cities like Saugor are becoming smart cities, Bhopal is likely to prosper in future.
Who are the top builders in Bhopal?
Some of the best builders in Bhopal include Unitech Group, Chinarr Group, Fortune Builders, Madhuban Group, etc. They are reputed and offer the best prices.