Second homes in the hills: A strong investment

With the world easily switching between being in fast paced world to unwinding at home and enjoying nature, buying a second home now features as one of the top priorities for most people, especially because of the last two years. According to a 360 Realtors’ latest research report, India’s retirement and second home market segment is currently around USD 1.4 billion and is expected to grow annually by 23.63 per cent in the next 5 years taking the size of the market to USD 4.021 billion by 2026. The covid-19 pandemic was one of the chief reasons for the increasing popularity. So, what are the advantages of investing in a second home and why investing in one is a good decision. We tell you.

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See also: How tax is imposed on your agricultural income?

Second home investment: Advantages

Vacation home: After effects of the pandemic has resulted in most organizations opting for remote working. So, investing in a second home can be your home away from home.
Rental income: When not in use you can rent your second home for holiday goers, thus earning rental incomes. Also, with real estate segment steadily growing, your investments will result in potential appreciation.
Tax benefits: There are tax benefits that are attached to second home investments that you can take benefit of.

Second home: Best location

While there are many options when it comes to locations for a second home, a property in the hills is definitely a class apart. With the serene and scenic views of the natural surroundings including the snow-capped mountains, the pleasant climatic conditions and the positive vibe, second home on hills fulfils your need of having a home away from the frantic city noise. Real estate industry reports suggest that more and more people are scouting for luxurious 2 and 3 BHK properties on the hills and what better place than Shimla. According to Sudershan Singla, Director, Cliffton Valley, “After the pandemic, we have so many people working from hills as work from home and many have created second income by giving their units on daily rentals through online portals”.

In this article, we tell you why Shimla and Solan has an extra edge over other places when it comes to second home investment.

1. A home surrounded by hills

Hill station is the best place to enjoy your childhood, adulthood and retirement days with the peace and beauty of nature. Shimla is rapidly emerging as a sought-after location for investment and gaining prominence to necessities. There is a grown interest in high-net-worth professionals and individuals with high profits for investments here.

2. No government approval needed

According to government rules, non-domiciles can easily buy a flat in Shimla/other hill stations or have a plot of land from a licensed builder. They do not need any approval from the state government or authorities. However, note that this limitation exists only for non-agriculturists buying land used for agricultural work. So, ensure that the property is registered under RERA and is constructed according to local norms.

Second home: Cliffton Valley Shimla and Chester Hills Solan

When you are buying a second home in Shimla, you should be aware of where you are investing. You should be well aware about the quality of construction, if it is RERA registered, the property’s maintenance, security, etc. to enjoy a good living experience.

Cliffton Valley Shimla

A perfect fusion of all the factors and more is the Cliffton Valley project in Shimla. A top-notch residency, the Cliffton valley project is fully featured with all modern amenities at affordable pricing.

Cliffton Valley home features

With work from home slowly becoming the norm, light is an important criteria in a building. While fluorescent lighting are mostly used for proper light while working, Clifton Valley offers a healthier and much more pleasing visual option – natural bright sunlight! The luxury apartments in Cliffton valley have abundant windows such that the interiors can be bathed in golden sunshine. All you need to do is to locate your desk or work area so that you can take advantage of the sunlight making work from home a great success and enjoyable here.

Also, Cliffton Valley 2/3 BHK apartment home have a host of amenities to unwind after a working day. Enjoy the rooftop swimming pool, spas, gyms, restaurants, fitness centre, or other amenities right in the luxurious apartments in stunning Cliffton valley. Additionally, you can visit one of the restaurants, shops or businesses located on the Cliffton valley’s ground floor or visit the varied dining and retail opportunities located nearby in Cliffton valley’s neighbourhood.

Chester Hills Solan

Chester Hills home features

Chester Hills is the only residency that allows people outside Himachal Pradesh to register for flats in own name legally. This is also the only residential property a non-Himachali can own. Chester Hills lies under the jurisdiction of Municipal Corporation Solan.

Chester Hills stands for ultra moden living. Approved under the RERA – RERAHP-SOP09-180041, Chester hills gated community has LED lights for lower power consumption, adequate water supply, power backup for basic facilities, 24 x7 security, intercom facility, lifts in all the blocks, CCTV for pathways, parking and parks.

The place is a well-crafted multi-housing program having all modern amenities including fitness, property-wide high-speed Wi-Fi, smart home features, lap pool and lounging pool, sporting facilities, green span, rooftop decks, in-building retailers and services, and a lot more.

While it is a home away from home, it is very centrally located with some of reputed universities and colleges such as Shoolini University, Manav Bharti University, Green hills engineering college and many more present here.

It also enjoys great connectivity with other locations like Chandigarh which is 2 hours away, Shimla which is an hour away, Kasauli which is 30 minutes away, Kandaghat which is 30 minutes and Panchkula which is 1.5 hours away from here.

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Anuradha Ramamirtham

With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
Email: anuradha.ramamirtham@housing.com