Buying a second home is one of the luxurious decisions for any home buyer. People want to visit a destination where they could relax and break free from the fast-paced life in the cities. The rising popularity of real estate investment has led to hill stations like Khandala and Lonavala offering good investment opportunities.
Reasons why you must buy a residential property in Khandala
- Khandala as a tourism hub: Khandala has many adventure spots and presence of several hotels and weekend homes. Some of the attractive places to visit in Khandala are Khandala Lake, Rajmachi Peak, Shooting Point, Duke’s Nose and Aamby Valley Golf Course.
- 2. Excellent connectivity: Khandala is well-connected to two real-estate markets through the Mumbai-Pune Expressway. It is connected to other suburban localities of Mumbai like Panvel, Wadala, Powai, Matunga, Bandra West, Badlapur East, Mazgaon, Shilphata, Pen, and Chowk. It is also well-connected by roads, railways, and air.
- By air: To reach Khandala, the closest airport is Pune, about 66 km away. One can also take a bus or taxi to reach the destination.
- By road: There are also frequent bus services to reach this beautiful hill station available from cities like Pune, Nashik, Mumbai, and others.
- By rail: If you want to reach Khandala, the nearest railway station is Lonavala. Pune and Mumbai are other rail heads that are closely situated to Khandala.
3. Growing social infrastructure: Khandala is seeing a rise in social infrastructure and conveniences such as hotels, shopping malls, restaurants and guest rooms. It also has some well-known educational institutions such as Swatantra Veer Sawarkar School, Gurukul High School, and Auxilium Convent High School. Apart from that, it also comprises of some reputed hospitals such as Kaivalyadhama Yogic Hospital and Health Care.
- 4. Employment opportunities: Commercial development has generated employment opportunities for the locals. Lots of people come in search of jobs which has further pushed the rental market of this hill station. Businessmen set up restaurants and new hotels while most of the labor is provided by people from rural areas who moved for employment.
- 5. Eating and dining: Khandala has great variety in restaurants for dining and options for fast food. The local vada pav, chikkis and fudges are quite famous for those make it a stop between travels.
Points to consider while investing in a second home
- Expenses: Think about how your expenses will change your priorities. If you are planning to use the second home as a rental income, ask yourself will you be able to get enough rent.
- Location and size: Apart from these 2 factors also consider maintenance costs for the selected location and the size of the plot.
- Taxes to consider: You need to pay the property tax levied on it and the income tax if the home is to be rented.
- Responsibilities that come with being a landlord: If you are planning to rent or lease your second home, you need to also think about the various responsibilities that come with becoming a landlord.
- Safeguarding your home: Inspect your property thoroughly well. Your home loan lender will advise you to choose for home insurance and home loan insurance. This will protect your home against various damages. Along with that make sure that your property has physical security in form of a gatekeeper.
Khandala as a destination
This beautiful destination is located at a height of 1,800 ft. in the Western Ghats of Maharashtra. Beautiful mansions are standing tall as a tribute to the old times. Many people visit Khandala especially during monsoons, as an escape from the hectic life. The perfect time to visit Khandala is from June to March.
Khandala is definitely a traveller’s paradise. There’s a huge demand for hotels, restaurants and guest rooms. The demand for property in Khandala has created a positive market sentiment amongst the investors and developers. Khandala offers lot more than just attractive panoramic views of the greenery.
If you are looking for apartments, villa plots in Khandala, invest in residential projects developed by Hiranandani Communities. The real estate developer has forayed into the development of leisure homes in Panvel, Khandala and Alibaug.