Allahabad is a city in Uttar Pradesh that has traditionally been the home to spiritual activities due to presence of River Ganga and Sangam for a very long time. The city is also a hub of education institutions which have been around since the time of the British. There are many new and additional ones which are considered to be the epitome in their fields. Allahabad also has a High court which prevails over most of Uttar Pradesh. However the city does not have an industrial setup and that is why it may come as a surprise to many that there is a high demand for Allahabad real estate in the year 2015.
What has Pushed the Development of Allahabad Real Estate?
The demand for Allahabad properties has increased ever since the city has been recognized as a potential smart city. Smart cities are being planned across the country to accommodate the growing urban population. These new cities have been planned to become the cities of the next generation. They will be empowered with digital technology and will have energy conservation systems installed to ensure that they work at top efficiency levels. In this case, Allahabad would become one of the most sought after places once the smart city near it gets constructed. While the construction is awaited, it is clear that once it starts, the city would be in extremely high demand.
Therefore all the property investment that is taking place in Allahabad right now is for the sake of ROI. If one studies the profile of the investors, most of them currently are from outside the city. The idea is to opt for Allahabad apartments and houses and wait for the right time to sell. The builders are also increasing land development activities in the city because there is an opportunity available in the city.
The economic growth of Allahabad has not been fuelled earlier by any comprehensive industrial development. There are some small and medium sized enterprises near the city. These are manufacturing units that have been established along the freight corridor. However their numbers and concentration is not sufficient enough to push the local economy which is mostly driven by local activities. However, with the advent of the property business, it seems that real estate has indeed become one of the biggest and major industries in the city.
Things to Learn Before Purchasing Property in Allahabad
When one decides to purchase a house in Allahabad city, the things that he/she needs to learn include the details of the house, the details of the housing society and the details of the neighbourhood. While the last option amongst these is difficult to achieve without visiting the property site. But property portal housing.com has managed to eliminate that issue as well. The portal has been designed to help end users find houses and flats for sale in Allahabad online. to ensure that the search is worthwhile, the portal allows end users to find all information that helps them assess both the property as well as the locality. The locality based search allows property owners to assess the neighbourhood first and then the houses in that neighbourhood.
Housing.com allows end users to find the best houses by the use of technology innovation and data analysis.