Vijay C Roy
Today News Online Service
Chandigarh, May 26
Proximity to Chandigarh, better connectivity and climate has made Solan in Himachal Pradesh a most sought-after destination for home buyers and realty projects. This can be gauged from the fact that the district commands a lion’s share in the Real Estate Regulatory Authority (RERA)-registered projects in the state.
According to data, almost 58% of the upcoming projects are concentrated in Solan district, followed by Shimla (26%) and Kangra (5%).
The total number of projects registered on HP RERA portal was 78 with Solan having the maximum (45), followed by Shimla (20) and Kangra (4).
Demand for holiday homes gains traction
With most of the professionals working from home, geography is no longer a constraint. The need for a perfect work-life balance has fuelled the concept of a holiday home. —Senior executive, Real estate developer
“There are a couple of reasons why maximum projects are concentrated in Solan. Proximity to Chandigarh, better connectivity compared to any other district, including Shimla, and better climate make it an ideal location. Secondly, most of the upcoming projects are in the municipal limits and flats are easily transferable and don’t require permission under Section 118,” said Rajiv Shandil, a real estate agent.
Section 118 of the HP Tenancy and Land Reforms Act provides restrictions on buying of agricultural land by non-agriculturists in the state. Only bona fide Himachalis with agricultural background can buy land in the state.
In Solan district, a majority of the projects are coming up in Baddi and Kasauli. As per real estate brokers, the demand for holiday homes in the northern region is gaining traction amid the pandemic. In order to cash in on the growing demand, especially from the metros and NRIs, the developers have lined up various projects.
Developers said due to the Covid pandemic, the concept of a holiday home or a second home has gained widespread acceptance.