| Shimla real estate and property market investment has experienced an increase in spite of restrictive real estate laws. Shimla is the capital city of Himachal Pradesh. The city has a total land area of about 25 square kilometers and is
located in the north-western ranges of the Himalayas. Outside investors are restricted from investing in non-agricultural land in Shimla on their own. Hence, many such investors buy and sell real estate by forming partnerships with the natives. Also, outsiders have to follow certain restrictions while purchasing properties, such as size of the property. At some point such restrictions may be removed. Shimla is a popular tourist destination. Predictably, places of tourist interest has experienced rise in property prices. Property development includes development of hotels, lodges, restaurants and other tourism related infrastructure. Mall Road is one of busy location of the city where one can find places to shop, restaurants, clubs, bars and tourist offices. Tourism also happens to be one of the primary sources of employment in Shimla.
|
|
Copyright © 2008 Realestatepropertyindia.com. All Rights Reserved.