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Construction : Web Exclusive | December 2012 | Source : Construction Update

Steep hike in realty prices of Ganderbal district

With land prices skyrocketing, many villagers in Ganderbal district of Jammu and Kashmir feel lost on their bargains.The land and real estate prices in Ganderbal, 20 km northeast of Srinagar, have touched a new high over last few years.

A 10 feet 15 feet shop in the main market was sold at Rs 20 lakh few months ago. The land prices are also skyrocketing in other towns including Gund, and Kangan. In Kangan town, the cost of 1 Kanal land has reached around Rs 20 to 40 lakh.

According to locals, the prices of land usually depend on the location.A piece of land near main road or near a commercially active place would have a high price value.

They said the same piece of land located far from the road and commercially active areas would have a low price value.

However, they said people now prefer low price areas and construct hotels and residential huts. In tourist areas of the district like Gagengar, Rezan and Sonamarg the price of a shop ranges from Rs 20 lakh to Rs 30 lakh. Similarly, for 1 kanal of land in these areas, the rates vary from Rs 20 lakh to Rs 30 lakh, said a real estate businessman.

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