Uttarakhand – The “Land of God” (Known as Uttaranchal from 2000 to 2006) is one of the most beautiful and enchanting states of northern India blessed with breathtaking natural beauty, rivers and many mountains, this state has been the haven for people seeking solace, in spirituality and a paradise for adventure lovers. Nestled in the Himalayas, Uttarakhand mainly depends upon its tourism industry that generates huge revenues for its economy. There is no dearth of tourist hot –spot in Uttarakhand. For everyone, there is some place to visit, whether you are interested in pilgrimage, spirituality and adventure sports or camping. The tourist place that is hit with visitors are Dehradun, Nanital, Almora, Uttarkashi, Chamoli, Rudraprayag, Haridwar and Tehri Garhwal.
But in the recent real estate boom in India, even Uttarakhand is swarmed by dozen of real estate builders, who want to encash on the vast natural beauty of the state.
Most real estate builders have already come up with various theme townships in the state. Though commercial and residential properties in major locations like Dehradun, Mussoorie, Haridwar & Rishikesh have already shot up with big players like Pacific Group, Ansals and Unitech, looking for land in these tourist attractions.
The mushrooming of the malls in cities like Dehradun, Mussoorie, Haridwar & Rishikesh have raised the bar for land prices in these cities to almost fifty times in some cases.
Anticipating a further rise in the price for residential and commercial properties in Uttarakhand, major and smaller real estate developers are jointing hard to grab the land at the earliest before rates move up.
Buying a property in Uttarakhand & relevant issues………….
In September2003, the Uttarakhand government promulgated an ordinance to regulate the sale of agricultural land. Only those registered as farmers in the revenue records could buy agricultural land, others had to route their application through the district magistrate (DM) and the divisional commissioner (DC). The ordinance also banned the sale of land on the basis of a power of attorney.
The amended law states that non-tenure holders can how buy up to 250 Sq. Mtr. of agricultural land for residential purpose, this law also applies to extended families. No individual can now purchase more than 250 Sq. Mtr. of land in the name of his dependents, parents, spouse or unmarried daughter. If the land is being bought for commercial purpose, permission needs to be taken from the state government. In case the land is being bought for agricultural and horticultural use, permission has to be sought from the DM.
However, there are no restrictions on buying apartment units in the state or land up tp 12.5 Acers within the Municipal area limit.