Shimla, the capital of Himachal Pradesh, is renowned for providing quality education, ever since the British Era. The hill station is also among the top tourist destinations of India. Tourists from all across the globe come to this hilly town to spend lavish holidays. Shimla provides a very soothing climate throughout the year, with snow-capped hills serving as the backdrop and picturesque beauty all over the place. People can indulge in adventurous trekking activities during the chilly winters, here. The scenic view, good climatic conditions and tranquilizing atmosphere together make Shimla an ideal destination for permanent settlement. As a result, many builders and developers of northern India are entering into the real estate market of the town, for residential and commercial projects.
Investment in the real estate business in Shimla is largely done for the construction of hotels and holiday inns, for the accommodation of tourists. Since more and more people are relocating themselves to settle down in the town, there is also an increase in the construction of shopping complexes, malls and restaurants in the town. This has resulted in the sharp increase in the capital and rental value of the commercial properties in Shimla. On the other hand, residential properties are also fast developing in the town. The Himachal Pradesh Housing & Urban Development Authority (HIMUDA) is responsible for the development of housing colonies at various places of the state, including Shimla. Private housing companies, both big and small, have also entered the real estate business of the town, to construct flats and apartments in Shimla, in order to cater to the housing needs of the growing population.
Top Builders and Developers in Shimla
Luxury homes are the special attractions of Shimla. Marvel Heights & Infratech Pvt. Ltd., leading real estate builder in north India, has come up with a residential project, namely 'Regalia Towers', located on the Zirakpur-Shimla Highway. Renowned builder Shubham Group's latest residential project in Shimla is the luxurious 'Indus Apartments'. Other established names in the real estate business of Shimla are Hike Developers, and Yaduvanshi Developers.