Guide for Hapur Residential Real Estate Investment￼
Hapur is a small city located in Uttar Pradesh, which is also the headquarters of the Hapur District. It has great historical significance as it was listed under the Ain-i-Akbari as a part of the Delhi Sarkar in the 10th century. It is slowly developing as a residential area with multiple local benefits and facilities.
According to Census 2011, Hapur has an overall population of 361,000. It has increased vastly in the last few years. Transportation facilities are easily available here, which makes it easier for the residents to connect to the different parts of the UP. The nearest railway is in Meerut, which is only 29 km away.
Keep reading to get a complete overview of the residential real estate sector of Hapur.
Top Reasons to Invest in Residential Real Estate in Hapur
You might be wondering whether investing in residential real estate will be beneficial in Hapur. Here are the top reasons to do so.
- Connectivity & Transport
Hapur is well-connected across Uttar Pradesh and other parts of India. Its proximity to the National Expressway 3 and National Highway 24 has increased its connectivity with Delhi and other parts of UP. Hapur Depot is the best place to find state buses, while Hapur Junction railway station acts as one of the major sources of transport. The nearest airport is Indira Gandhi International Airport, which is about 72 km away.
- Local Amenities
There are multiple local facilities you can get from living in Hapur. It is developing as an educational hub with various research institutes, dental colleges, engineering colleges, etc. It also ensures good healthcare services through Life Line Hospital and Anand Hospital. There are also various hotels, restaurants and theatres in the surrounding area. Opulent Mall and Red Mall offer daily necessities.
- Developing City
Hapur is a developing city, as it is rapidly urbanising in UP. The state government has invested about ₹ 810 crores for inaugurating 274 new development projects in Hapur. The infrastructure for shopping malls, restaurants and healthcare is improving largely in this area. Moreover, it is developing an industrial hub, especially in the fields of agriculture, fertilisers, pumping, jewellery, testing equipment, etc.
Residential Real Estate Investment Opportunities in Hapur
Here are some of the most popular residential areas in Hapur that you should consider when investing in residential real properties here.
- Preet Vihar
It is a popular residential area in Hapur, offering multiple residential plots and properties. Delhi Public School, Sanskar School, SSV PG College, etc., are the nearest educational institutes. Moreover, it is close to railway stations like Bulandshahr and Hapur. 1 BHK apartments start from only ₹ 15 lakhs in this region.
- Garh Mukteshwar
Located in the Hapur district, Garhmukteshwar is gaining popularity as a residential town. Garhmukteshwar and Garhmukteshwar Bridge (Brijghat) are the two railway stations nearest to this area. Moreover, it is located on National Highway 9, which enhances its connectivity. Dev Memorial Public School and ILAS Degree College are the nearest educational institutes. Residential plots start from only ₹ 10 lakhs here.
This is another popular residential area in Hapur. It offers various facilities like educational institutes, including Mehar Public School, MEG Public School, SSV PG College, etc. You can get good healthcare facilities here through Shifa Hospital and Abdullah Nursing Home. 6 BHK independent houses are available here at only ₹ 50 lakhs.
Located in the Hapur district, Dhaulana can be a good residential area. The railway is the main source of transportation here, the nearest stations being Pilkhua and Hapur. It is also located near various markets, malls and hospitals. Popular educational institutes include APS Public School, AGS School and RSS Inter College. Prices of residential plots start from only about ₹ 30 lakhs in this region.
Things to Consider Before Investing in a Residential Property in Hapur
Here are a few things you should consider when purchasing residential real estate properties in Hapur.
- Local Environment
Some areas in Hapur are currently dealing with pollution. The air quality index is poor in such areas, mainly because of car and industry emissions. Moreover, the proximity to the national highways also contributes to traffic congestion. Residing in such areas can be challenging. Thus, inspect the local environment before choosing a property.
- Gap of Infrastructure
While Hapur is urbanising, some areas are still rural. They might have an infrastructure gap. Particularly, the problems of sewage, drainage and poor road conditions are visible in these. Living in such areas can be highly unhygienic. Thus, you should consider the infrastructural development of an area before choosing it.
- RERA Registration
The Indian Government came up with the Real Estate Regulatory Authority (RERA) platform to monitor real estate transactions. It allows the government to ensure that there is a just and transparent process of buying and selling real estate properties. Every builder must register a property under RERA to sell it. You can check RERA UP to find out if your chosen property is registered here.
Stamp Duty in Hapur
Stamp duty charges are mandatory when you are trying to purchase real estate properties. Here are the charges you need to pay in Hapur.
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Registration Charges in Hapur
Buyers also need to pay registration charges when it comes to investing in real estate properties. Here are the registration charges for Hapur, UP.
Hapur Residential Real Estate Sector – What’s the Forecast?
Hapur has been evolving as a residential area, attracting people from all across UP. In 2022, UP RERA reported a rise of 25% in fresh launches of real estate properties. There were nearly 125 applications for new real estate projects. The reason might be associated with the growing industrial developments in this area.
Hapur is growing largely as an industrial area. Moreover, it is also popular as an educational hub. This has contributed to improving its position as a residential area. Various upcoming projects are waiting in this area, including Platina Dinesh Nagar, HBL Balaji Greens, Samiah Garden City, etc. This means the real estate sector has a bright future in Hapur.
Residential Real Estate Vs. Other Asset Classes
Investors often wonder if residential real estate properties are beneficial investment instruments. For better clarity, here is a comparison between different asset classes.
- Residential Real Estate vs Gold
Gold items have gained popularity as a safe and less turbulent investment option. Almost every Indian household has gold jewellery, which serves as an asset in times of need. As it is easier to liquidate gold items, they are preferable over real estate. However, residential real estate properties generate higher returns than gold.
- Residential Real Estate vs Commercial Real Estate
Commercial real estate properties are mainly offered for business purposes. Tenants naturally pay higher rents for such properties. Moreover, they offer better returns. However, finding suitable tenants for commercial properties can be a liability. Additionally, residential real estate properties offer better tax benefits.
- Residential Real Estate vs Stocks & Mutual Funds
Investors often prefer stocks and mutual funds, as these are usually reliable and generate high returns. Even though they generate a strong source of income, stock markets are volatile. They can fluctuate according to changes in economic conditions. The returns from residential real estate properties are safer compared to mutual funds.
- Residential Real Estate vs Bonds
Bonds are popular among investors for their lower credit risks compared to the stock market. They generate more or less fixed returns and do not change according to market fluctuations. While residential properties generate higher returns, bonds are much safer and maintain fixed returns.
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Are you still having doubts? The following table will clear them further with detailed data regarding a comparison.
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Steps to Invest in Residential Real Estate in Hapur
Do you wish to invest in the residential real estate properties of Hapur? Here are a few steps to get you started.
Step 1: Analyse your needs for a residential real estate property. Decide a budget for the same.
Step 2: Start looking for properties in a chosen location. You can use a professional broker or conduct independent research.
Step 3: Visit the sites of the properties and generate feedback. Shortlist some of the properties based on the facilities and budget.
Step 4: Make a final choice and meet the seller. Assess all the documents before signing them.
Step 5: Consult a lawyer and complete the procedures. Complete the final payment, while paying the stamp duty and registration duties.
Step 6: Secure your property by purchasing an insurance policy for it.
Thus, as you can see, Hapur in UP can be a suitable place for investing in residential real estate properties. It offers good pricing while having great facilities regarding connectivity, transport and local facilities. Moreover, it has the possibility of growing in the future with better infrastructure and industrial development.
Frequently Asked Questions
What are some good residential areas in Hapur?
Some good residential areas in Hapur include Preet Vihar, Garh Mukteshwar, Majeedpura and Dhaulana. You should consider these areas for finding good residential properties and plots.
Is real estate expensive in Hapur?
No, real prices are quite affordable in Hapur. It starts from about ₹ 1,428 and can increase to ₹ 10,769. On average, properties cost about ₹ 3,584 per sq. ft. in Hapur.
What documents do you need when investing in real estate?
You need to have access to various documents when dealing with real estate. Some of these include the sale deed, possession letter, completion certificate, building approval plan, etc.
What are the names of some top builders in Hapur?
Some of the top-rated builders in Hapur include Verma Associates, Kohinoor Constructions, Right Key Constructions, GV Infra Projects, etc. You can enquire with them while investing in real estate in this region.