Real Estate in Siliguri Vs North East India

Siliguri’s position is epitomised by the highly significant strategic route connecting north east India to other parts of the country passing through the city. The friendly weather and bustling economic activity in the hilly city has pitch forked Siliguri’s place in the international over land trade map of India. The city’s location has accelerated the growth and has ushered the setting up of many businesses in the place. The critical corridor passing through Siliguri plays a major role in aiding the transportation of goods and movement of people. The following analysis offers gainful insights into the value of real estate vis-à-vis other states in north eastern India and explores the demand for commercial and residential spaces in the respective regions.

Assam

As one of the largest and the most significant of the north East Indian states, Assam shares its boundaries with almost each of the other state in the region. Real estate in Assam is mostly centred around the largest city in the state - Guwahati which is very near to the state capital Dispur. The demand for quality residential space and commercial buildings in Guwahati has strengthened in the recent years. This has enhanced the growth of real estate in Guwahati and in adjoining areas. The heightened socio-economic growth noted in the city and the presence of premier institutions like IIT, IIM have attracted population from nearby states. The announcement of constructing AIIMS and the laying of several rail lines to the tune of Rs.28000 crores has turned the spotlight on the city like never before. The government has conceived a plan with an outlay of more than Rs.5000 crores to give fillip to the telecom infrastructure in the state. Another announcement to set up 6 new agriculture colleges with focus on organic farming has raised the hopes of farmers in the state.

Manipur

The concatenation of two words Mani translating into jewel and Pur meaning a place or abode, Manipur shares international border with Myanmar apart from being bounded by Assam, Mizoram and Nagaland. Of late, the real estate in Manipur is exhibiting positive signs on the face of emergence of demand in the capital city area. Prominent construction magnates from Kolkata who have made a name for themselves in residential projects are drawing up plans to enter the real estate in Imphal. Among the entire north East India region, Manipur is known to have the highest number of handicraft units and artisans.

Meghalaya

The state of Meghalaya was originally formed by carving out two districts from Assam. Sharing a lengthy border with Bangladesh, Meghalaya is primarily rooted on the agrarian economy. The capital city of Shillong had been nicknamed as the “Scotland of the East” for its splendid beauty showcasing the nature’s bounty. As one of the wettest regions in the whole of country, Meghalaya is renowned for its rich fauna and flora.The real estate in Meghalaya though not at par with neighbouring Assam in terms of residential units built finds takers among the local populace. In terms of demand, Shillong real estate alone generates requirement for residential properties from other districts. The potential of tourism is slowly being tapped and naturally the need for quality accommodation is on the rise.

Mizoram

Deriving its name from its inhabitants Mizos, Mizoram has an overwhelming 95% of the population comprising of tribals. The Mizoram real estate picked up activity after achieving the status of a state in the year 1987. With the advantage of internationally bordering with Mynamar and Bangladesh, the state is deemed to be an important trade route for exports and imports from the neighbouring countries. The capital Aizwal and other areas of the state have a fairly high literacy rate with English commonly spoken among the locals.

Nagaland

With 70% of Nagaland’s economy dependent on agriculture, other significant sectors providing livelihood to the people of the state are tourism, cottage industries and to an extent real estate. The Nagaland real estate has witnessed veritable development with the steady increase in the arrival of tourists. As a largely mountainous state, the region has many rivers crisscrossing it. Though rice, the staple diet is widely cultivated, plantations of tea and coffee exist in few parts of the state. The real estate in Dimapur has scope for growth in the near future as the state is yet to realise the tremendous potential of hydroelectricity that would enable Nagaland to become a power surplus state.

Sikkim

Real estate in Sikkim is mostly dependent on agriculture and tourism. The state has earned accolades worldwide for achieving the status of fully organic cultivation throughout the state. Gangtok real estate has recorded immense progress with tourism attracting people all over India. The state retains the coveted position of being the largest cultivator of cardamom and also has a good share in terrace farming.

Tripura

A formerly independent princely state, Tripura became part of India in 1949. With a forest cover of more than half of the state, Tripura is interspersed with wild life sanctuaries and national parks. Tripura real estate activity is confined to the urban region like Agartala. Retail trade and manufacturing formed the bulk of employment providers after agriculture in the state. The former two sectors are responsible for offering the stimulus to Agartala real estate.

Arunachal Pradesh

As the largest of the Seven Sister States of North East India in terms of area, Arunachal Pradesh shares its borders Bhutan, Myanmar and Tibet which is controlled by China. Translated into Land of the Dawn – Lit Mountains, Arunachal Pradesh was mostly under the sovereignty of Assam Kings in the earlier days. The Arunachal Pradesh real estate is dependent on people employed in agriculture, horticulture, handloom and sawmill industries.

Real Estate in Siliguri

It is clearly evident why every real estate company in Siliguri are into development of large scale dwelling units and residential projects with world class amenities comparing to any other North East Indian Cities. Many of the migrants from the north Eastern states prefer having a residence in the city and approach property dealers in Siliguri. The perfect location of Siliguri providing access to other parts of the country has placed the real estate agents in Siliguri in the most sought after vertical. Be it flats in Siliguri or any house for sale in Siliguri, people are readily willing to purchase on short notice. Property in Siliguri is easily deciphered to be a hot cake as there enough prospective buyers in the city.

With quality educational and health care institutions, Siliguri is the preferred choice of second home for most of the high net worth individuals in North East Indian states. This vital factor put Siliguri real estate on a sharp growth phase and fetching high appreciation to the property owners in Siliguri which is marked by the increased trend of post property Ad by them to sell property online to make use of this opportunity and on the other hand amplified search for them by property buyers beyond boundaries. Beyond doubt the real estate in Siliguri is more attractive to the investors comparing to the real estate in the north eastern states of India and it deserves for it.