The twin cities are turning out to be an investment hub for outsiders. With land prices going beyond imagination in metro cities people are turning towards Hubli-Dharwad to invest their money in the residential plots here. The recent selection of Hubli-Dharwad twin cities as smart city project and IIT in Dharwad by central govt has attracted more buyers. The trends are in such a way that more than 50% of the investors in residential plots of twin city are outsiders.
What’s luring them is cheap land prices and good returns. Compared to metros, prices here are one-tenth of the land rates and gives more than 100% return in 2 years alone. The twin cities are also well-connected by air, rail and road to big cities like Mumbai, Pune, Bangalore and Goa and its proximity to these cities is making the difference.
People are now aggressively scouting for land in areas on the outskirts of the city. Land prices has increased almost twice as compared to last year. Layouts on Kusugal Road and Gokul Road, which had many takers a few months ago, is also now out of reach for middle and upper middle class families.
Developers are now scouting for land and concentrating on places near Navanagar and Tarihal where as these areas are nearer to both Hubli-Dharwad cities. More than 90% of outsiders who are buying properties here are doing it for investment purpose.