Residential Real Estate Investment in Bikaner
Bikaner is one of the major cities of Rajasthan and is known for housing many majestic temples, palaces and forts. Besides being a popular tourist destination, Bikaner hosts relevant industries and educational institutions attracting people from nearby places.
Woollens, Namkeen, and ceramic are some of the significant industries here. Bikaner is also renowned for its namkeen and papad factories with over 400 units employing thousands of people. With rapid industrial development in the city, there are plenty of work opportunities for people who settle here.
Furthermore, as a tier II city, the living cost in Bikaner is not much high. This acts as a pulling factor for people of varied economic backgrounds. As an affordable city, scholars, and employees can lead a comfortable life here.
Keep reading to know about residential real estate opportunities in Bikaner.
Top Reasons to Invest in Bikaner Real Estate
Here are a few noteworthy reasons for you to invest in residential real estate in Bikaner.
- Institutions of Higher Education
Bikaner hosts some of the leading universities in Rajasthan offering academic excellence. It houses several reputable colleges and universities with high-quality facilities. This includes competent teaching faculty, advanced infrastructure and other facilities.
RNB Global University, Maharaja Ganga Singh University and the Institute of Agri-Business Management are some of the popular institutions in Bikar for higher education.
These universities tend to attract scholars from other cities of Rajasthan and neighbouring states. Residential properties in proximity to these top universities are in high demand among students.
- Transportation Facilities
Bikaner offers strong connectivity via roads and railways to other parts of Rajasthan and India. The Bikaner Junction Railway Station located nearby is one of the busiest major railway stations in the northwestern section of Indian Railways. You can easily travel from Kolkata, Delhi, Mumbai, Agra, Kanpur, Hisar and other various Indian cities to Bikaner via train.
Furthermore, Bikaner houses strong roads and expressways that connect major cities like Delhi, Panipat, Ajmer, Ahmedabad, Surat, Churu, Sikar and Bhilwara. The nearest airport is in Jodhpur, located around 4.5 hours away from Bikaner. Therefore, residents in this city will experience seamless travelling within and outside the city.
Residential Real Estate Investment Opportunities in Bikaner
Here are some places in Bikaner where you can invest in residential real estate to earn high returns on your investment.
- Mukta Prasad Colony
Mukta Prasad Colony lies in the southwestern part of Bikaner. This is a popular location for people seeking homes in Bikaner in a friendly neighbourhood. Mukta Prasad Colony lies close to major hospitals, markets, and schools and hosts big gardens for relaxation and sports. The Bikaner Railway Station can be easily accessed from here via public transportation.
You can invest in properties of various ranges like villas, independent houses and residential plots in Mukta Prasad Colony. Property prices here can vary from ₹40 lakh to ₹85 lakh approximately.
Lalgarh is another popular residential area in Bikaner offering family-friendly residences. You can invest in unfurnished or semi-furnished homes here to earn substantial returns from rental gains. There are houses with private gardens and airy and polished rooms that offer an urban lifestyle.
Property prices in Lalgarh range approximately from ₹48 lakh to ₹70 lakh.
Things to Consider before Buying a Residential Property in Bikaner
Here are some points you must consider before purchasing a residential property in Bikaner.
- Safety and Security
Tenants will wish to feel protected and secure in the house they rent. You must ensure that your property offers such facilities to attract a higher rental income. Therefore, consider conducting locality research to study the population neighbouring your property.
If your property lies in a deserted region, consider the distance to the nearest police station to your property. It will also be of great help if you also extend your research to know the crime rates in your area. This will help you take necessary measures to maintain safety on your property against theft or burglary.
- RERA Authentication
The Real Estate Regularity Authority Act, 2016 mandates the formation of a Real Estate Regularity Authority (RERA). This statutory body governs and monitors accountability and transparency in the real estate industry.
Therefore, every broker and builder in Bikaner must register their properties under the official RERA portal of the Rajasthan State Government. As an investor, you can verify the authenticity of your shortlisted residential properties in Bikaner.
Before investing in any residential real estate, you also need to be well aware of your financial standing and plan your budget accordingly. Furthermore, knowing your budget also offers insight into whether you need a loan to invest in a remarkable property or not.
When applying for a loan, consider evaluating your monthly repayments. By doing so, you can prevent your EMI obligations from hampering your future savings.
Stamp Duty in Bikaner
The table below displays the stamp duty charges applicable to residential real estate in Bikaner.
|Male||6% + 20% (of 6%) labour cess|
|Female||5% + 20% (of 5%) labour cess|
Registration Charges in Bikaner
The registration charges applicable to residential real estate in Bikaner are given below.
Bikaner Residential Real Estate Sector: What’s the Forecast?
Currently, Bikaner is a preferred destination for real estate investment due to its superb connectivity, social amenities, employment opportunities and low cost of living. Furthermore, several development projects and facilities are happening in this city that will likely develop the real estate market.
According to recent sources, Rajasthan RERA is following the tax exemption approach for green building in its major cities like Jaipur and Bikaner. Builders in this state are also submitting petitions to amend the double taxation rule applicable here.
The Real Estate Regularity Authority is also granting exemption certificates to builders in Rajasthan for certain properties. This exemption is only applicable for residential properties that are completed before any marketing or advertising move.
These factors are likely to bring a revolution in the real estate industry in India. Both investors and tenants can benefit from such new reforms in terms of ROI and safety.
Residential Real Estate vs Other Asset Classes
Let’s take a look at the differences between residential real estate and other asset classes regarding ROI, risks, liquidity and other factors.
Residential Real Estate vs Stocks and Mutual Funds
You must pay a large quantum to start investing in residential real estate whereas, in the case of stocks and mutual funds, you can start investing with a nominal amount. However, the stock market has a volatile nature. You must have a clear knowledge of this marketplace before investing in stocks and mutual funds.
However, residential real estate is comparatively less risky than stocks and mutual funds and offers decent returns. You can also enjoy certain tax benefits by investing in residential real estate.
Residential Real Estate vs Bonds
Bonds and residential real estates are good sources of passive income. However, investments in residential real estate bring in more ROI than bonds. You can also enjoy tax benefits by investing in residential real estate than bonds. In contrast, by investing in bonds, you can fetch modest returns at very low risks.
Therefore, if you are planning to invest in low-risk bonds and earn decent returns, browse our homepage. Here you will find various top-rated bonds trending in the market. So, register now and start investing with zero hidden or additional charges.
Residential Real Estate vs Gold
Gold is a more volatile and risky asset than residential real estate. On that note, gold is good for both long-term and short-term investments, whereas, residential real estate is fit for long-term investments only. However, you can fetch more returns by investing in residential real estate than gold.
Residential Real Estate vs Commercial Real Estate
Commercial real estate is much more expensive than gold. As a result, you can fetch more returns from these than residential properties. Also, owing to their soaring prices, commercial properties face more credit risks than residential ones. In terms of tax benefits, investors enjoy more tax benefits from residential properties than from commercial ones.
The table below compares asset classes based on their liquidity, volatility, risks and ticket price.
|Parameters||Residential Real Estate||Stocks & Mutual Funds||Gold||Commercial Real Estate||Bonds|
Steps to Invest in Residential Real Estate in Bikaner
Here are some important steps you can follow to invest in residential real estate in Bikaner:
Step 1: Fix a budget to invest in residential properties in Bikaner.
Step 2: Shortlist a few locations and conduct on-site research to analyse the ground situation.
Step 3: Visit these locations for a thorough understanding of your benefits. Also, seek help from real estate consultants to know about prospects in the area.
Step 4: Finalise and purchase your chosen property after checking its RERA authenticity.
Step 5: Collect the necessary documents like the sale deed and Encumbrance Certificate.
Step 6: Pay additional charges like stamp duty and registration charges to transfer the property under your name.
Step 7: Consider paying the service charges to brokers or real estate consultants (if any).
A real estate investor can earn substantial benefits by investing in both residential and commercial real estate in Bikaner. However, before you invest in either of these types of properties, consider doing adequate research on the locality and facilities offered.
Also, after investing in residential real estate in Bikaner, consider purchasing an insurance policy to cover your property. This will help to secure your finances in case of any damage to the property.
Frequently Asked Questions
What are some of the best English medium schools in Bikaner?
New Gurukul English Medium School, Basic English Public School, NDMF English School and Divine International School are a few prominent English medium schools in Bikaner.
What are stamp duty charges?
Stamp duty is a tax applicable during the sale of a property. Section 3 of the Indian Stamp Act, of 1899 makes payment of stamp duty mandatory for buyers along with the total price of the property.
Which residential properties I can purchase in Bikaner?
You can purchase or invest in residential properties like unfurnished or semi-furnished independent houses, villas and residential lands in Bikaner.
What are some popular places in Bikaner to invest in residential real estate?
Lalgarh, Mukta Prasad Colony, Bichhwal, and Nokha are a few popular places in Bikaner for you to invest in residential properties.