Guide for Yamunanagar Residential Real Estate Investment ￼
Yamunanagar is located in the state of Haryana and is famous for its paper industry and timber manufacturing plants. This city serves as a major hub for different industrial sectors pertaining to agri-business. In addition, Yamunanagar is showing development in the tourism industry. Some of the notable places to visit in this city are Kalesar National Park and Chaneti Buddhist Stupa.
Additionally, there are some reputed colleges and educational institutions that offer a superlative quality of teaching. Meanwhile, sectors like residential real estate have also shown massive development in recent years.
This context offers guidance to people who are looking to invest in its residential real estate sector or purchase a house for making a better decision.
Top Reasons to Invest in Residential Properties in Yamunanagar
Some of the major reasons for investing in residential real estate in Yamunanagar are as follows:
- Industrial Development & Opportunities
Yamunanagar is growing in different industrial spheres and developing in agricultural arenas. Being primarily a production hub for wheat, rice, and sugarcane, this city also has a manufacturing setup for various refineries and machinery for processing. The growing development in the business sector is bound to increase the value of land to a great extent. Moreover, with the growth in these sectors, employment opportunities will also increase.
- Availability of Amenities
The availability of amenities in its locality affects the current market value of the property to a great extent. This city offers a variety of amenities like multiplexes, reputed colleges, industrial hubs, departmental stores, etc., to residents. Hence, the developing trend in different arenas makes it a profitable sector for investment in residential properties.
Investment Opportunities in Residential Real Estate in Yamunanagar
Some of the lucrative locations where investment opportunities are high in residential real estate in Yamunanagar are:
- Sarojini Colony
Sarojini colony is one of the popular places in this city of Yamunanagar, offering direct road connectivity with the other major parts. Suitable for industrial transportation, the average value of the property starts from approximately ₹4,000 per square foot.
- Vishnu Nagar
This locality of Vishnu Nagar is extremely posh and is a hub including offices, industries, departmental stores, restaurants, schools, and many other amenities. The average price of the plot starts from approximately ₹5,000 per square foot.
Things to Consider Before Investing in a Residential Property in Yamunanagar
Some of the factors to consider before investing in a residential real estate plot in Yamunanagar are mentioned down below:
- Amenities Available in the Locality
The facilities available in this locality state the quality and standard of living of the area. The availability or development of shopping malls, luxury stores, departmental stores, and multiplexes influence the market value of the land.
- Checking of RERA Details
RERA is a statutory body that deals with transactions and activities in the real estate sector and is governed by the Real Estate Regulatory Authority Act, of 2016. There is a separate and unique RERA team that functions in every state and UT of the country.
Every broker in Haryana must get their projects registered under the official portal of the RERA Haryana. Investors or home buyers can check or verify the details of a property from the portal before making the final payment.
- Making Financial Planning
As investing in residential real estate property includes a huge sum of money, taking into consideration the financial condition before and after the investment is essential. You need to analyse properly how the expenses and other financial needs will be taken care of.
Stamp Duty in Yamunanagar
The rate of the stamp duty in rural areas in Haryana is provided in a tabular format below:
|Types of Documents||Rural Areas|
|Exchange deed||6% of property or market value (higher)|
|Sale and conveyance deed||5%|
|Special power of attorney||₹100|
|General power of attorney||₹300|
The rate of the stamp duty in urban areas in Haryana is provided in a tabular format below:
|Types of Documents||Urban Areas|
|Sale and conveyance deed||7%|
|Special power of attorney||₹100|
|General power of attorney||₹300|
In addition to this, based on the property ownership, the rate of stamp duty is explained below in a tabular form:
|Type of Property Owner||Rate of Stamp Duty in Rural Areas||Rate of Stamp Duty in Urban Areas|
Registration Charges in Yamunanagar
The registration charges on property in Haryana depend on the valuation of a property and are given in a table:
|Value of a Property||Registration Charges|
|₹50,000 – ₹5 lakh||₹1000|
|₹5 lakh – ₹10 lakh||₹5000|
|₹10 lakh – ₹20 lakh||₹10,000|
|₹20 lakh – ₹25 lakh||₹12,500|
|₹25 lakh – ₹40 lakh||₹20,000|
|₹40 lakh – ₹50 lakh||₹25,000|
|₹50 lakh – ₹60 lakh||₹30,000|
|₹60 lakh – ₹70 lakh||₹35,000|
|₹70 lakh – ₹80 lakh||₹40,000|
|₹80 lakh – ₹90 lakh||₹45,000|
|₹90 lakh and more||₹50,000|
Yamunanagar Residential Real Estate Sector – What’s the Forecast?
In the upcoming years, there have been major and minor projects that will be set up in the entire state of Haryana. Haryana State Industrial and Infrastructure Development Corporation Ltd., is coming up with a plethora of projects like the Delhi Mumbai Industrial Corridor and Kundli-Manesar Palwal Expressway.
The completion of such major projects will like to have a positive impact on all sectors across Haryana. So, people planning to invest in residential properties will likely expect higher rates of returns shortly.
Residential Real Estate vs Other Asset Classes
The difference between residential real estate plots and other asset classes are as follows:
- Residential Real Estate vs Commercial Real Estate
Funding money in the commercial real estate sector is sure to attract a higher rate of return. However, this investment instrument attracts a higher volume of paperwork for entering the market as compared to the residential real estate market. On top of this, funding in residential real estate will provide tax benefits that will be not applicable in commercial real estate.
- Residential Real Estate vs Gold
Gold is a great choice of investment and offers a stable return on investment. In addition, it is extremely hassle-free to buy and sell gold. However, if the market is facing economic fluctuations, or inflation, investing in residential real estate will offer a better rate of return in the long term due to its appreciating value.
- Residential Real Estate vs Stocks and Mutual Funds
Though it is very easy to invest in the stocks and mutual funds markets, however, the extreme fluctuations in the market due to higher volatility make this instrument a risky investment. Investing in the residential real estate market offers a higher and steady rate of return, thus ideal for long-term funding.
- Residential Real Estate vs Bonds
Both bonds and residential real estate investment are excellent instruments used for short-term and long-term funding. Also, where the residential real estate sector offers a high return on investment, bonds offer high liquidity.
The table below shows the profound comparison of different assets based on different factors like market liquidity, volatility, and risk involved.
|Parameters||Residential Real Estate||Stocks & Mutual Funds||Gold||Commercial Real Estate||Bonds|
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Steps to Invest in Residential Real Estate Property in Yamunanagar
Here are the following step-by-step procedures to invest in residential real estate properties in Yamunanagar:
Step 1: Understand your finances and know your future financial goals for better planning on investment in residential real estate.
Step 2: Select a list of prospective locations that match your preference and budget for investment.
Step 3: Take note of the crucial details of the property by carefully verifying with the help of on-site and off-site surveys.
Step 4: A lot of time guidance is required to understand the intricacies of the real estate market which can be achieved through consultation with real estate agents. Seek their consultation for better insight into its market so that you know where the investment opportunities lie.
Step 5: After completing or deriving all information about the property, you can finalise the desired property.
Step 6: Before you make payment for a property, check the authenticity of the property from the RERA portal of the respective state. This will ensure whether the property has been built following the guidelines and requirements or not.
Step 7: Thoroughly verify the property-related documents to establish their accuracy.
Step 8: Once you have done the verification of all documents, set the accounts for the effective and quick transaction of finances and ownership of the property.
Step 9: After completion of all these important steps, purchase an insurance policy for the newly bought property for safeguarding its interest.
To conclude, this context throws light on the investment scopes in the city of Yamunanagar. With growing development in different sectors and increasing rate of relocation, this city is likely to grow more in the upcoming years.
Frequently Asked Questions
Why investing in residential real estate is the best decision for long-term funding?
Investing in residential real estate is great for long-term investment as it offers a steady and increasing rate of return over a long period of time. Moreover, this market is constantly developing, hence, the value of land is also appreciating.
What are the documents necessary for property registration in Yamunanagar?
Documents required for property registration in Yamunanagar are proof of ownership which include original sale deeds, proof of identification, verification of GPA, NOC, identity proof of two witnesses, digital photo of the building, etc.
Which locations are ideal for investment in residential real estate in Yamunanagar?
Some of the locations which are ideal for investment in residential real estate in Yamunanagar are Sarojini Colony, Vishnu nagar, Chhachhrauli, Shastri Colony, etc.
What is the primary function of RERA?
The primary function of RERA is to monitor all the activities in the real estate sector. Moreover, a project registered under the RERA portal of the respective state specifies that the project was built keeping all the guidelines and protocols in mind.