House for Resale in Rishikesh Near Aiims

Rishikesh, often referred to as the “Yoga Capital of the World,” is not only a spiritual hub but also a burgeoning real estate market, attracting investors and homebuyers alike. Nestled in the serene foothills of the Himalayas and along the banks of the sacred Ganga River, Rishikesh offers a unique blend of tranquility and modern amenities. Among the many lucrative opportunities in this vibrant city, a standout commercial property is now available for sale in Gali No. 11, Shivaji Nagar, just 150 meters from the prestigious AIIMS Rishikesh. This 180 sq yd property, spanning three floors with 18 rooms and generating a robust rental income of ₹1.30 lakh per month, is listed at a demand price of ₹1.10 crore.

Why Invest in Rishikesh Real Estate?

1. Spiritual and Tourism Hub: Rishikesh attracts millions of visitors annually due to its proximity to the Ganges River, iconic landmarks like Laxman Jhula, and renowned yoga and meditation centers. This influx fuels demand for rental properties, making investments like the Shivaji Nagar house highly lucrative.
2. Institutional Growth: The establishment of AIIMS Rishikesh in 2012 has transformed the city into a medical and educational hub. The institute attracts doctors, students, and staff who require long-term accommodations, ensuring consistent rental demand.
3. Infrastructure Development: Improved connectivity via the Delhi-Rishikesh highway, Jolly Grant Airport (approximately 20 km away), and railway stations has enhanced Rishikesh’s accessibility, boosting property values.
4. Government Initiatives: Uttarakhand’s government has promoted Rishikesh as a smart city, with investments in infrastructure, tourism, and healthcare, further elevating its real estate potential.

According to a 2023 report by Square Yards, Rishikesh’s residential property market has seen a 15-20% annual appreciation in property values, particularly in areas like Shivaji Nagar, Virbhadra, and Ganga Nagar, due to their proximity to key institutions and amenities.

Property Highlights: Why This House Stands Out

1. Prime Location

The house’s location in Gali No. 11, Shivaji Nagar, is a significant advantage. Being just 150 meters from AIIMS Rishikesh, it caters to a captive audience of medical professionals, students, and their families. Shivaji Nagar is a well-connected residential area with access to schools, markets, and public transport, making it ideal for both tenants and owners.

2. Robust Rental Income

Generating ₹1.30 lakh per month in rental income, the property offers an impressive rental yield. Assuming an annual rental income of ₹15.6 lakh (₹1.30 lakh x 12 months), the yield is approximately 14.18% (₹15.6 lakh / ₹1.10 crore). This is significantly higher than the average rental yield of 3-5% in metro cities like Delhi or Mumbai, making it a standout investment.

3. Versatile Layout

The three-story structure with 18 rooms (12 single and 6 double room sets) is designed for maximum occupancy and flexibility. Single rooms are ideal for students or individual professionals, while double room sets suit small families or shared accommodations. This versatility ensures the property remains fully occupied year-round.

4. Proximity to Key Landmarks

Beyond AIIMS, the property is close to:

• Ganga River: Approximately 1-2 km, offering scenic views and spiritual significance.
• Rishikesh Railway Station: 3-4 km, ensuring easy connectivity.
• Laxman Jhula and Ram Jhula: 5-7 km, popular tourist attractions.
• Jolly Grant Airport: 20 km, facilitating travel for tenants and owners.

Rishikesh Real Estate Market Trends (2024-2025)

Demand Drivers

• AIIMS Rishikesh: The institute’s expansion, with over 1,000 students and hundreds of staff, sustains demand for nearby accommodations.
• Tourism: Rishikesh welcomed over 2 million tourists in 2024, per Uttarakhand Tourism data, boosting demand for short-term rentals.
• Remote Work: The rise of remote work has led professionals to seek serene locations like Rishikesh, increasing demand for long-term rentals.

Price Trends

According to Propflix, properties near AIIMS and Ganga Nagar command prices of ₹5,000-₹7,000 per square yard for residential plots. Built-up houses like this one, with established rental income, often fetch a premium. The asking price of ₹1.10 crore (approximately ₹6,790 per sq ft) aligns with market rates for income-generating properties.

FAQs: Addressing Common Queries

1. Is the property legally clear?

While specific legal details are not provided, properties in Shivaji Nagar are typically freehold with clear titles, as per listings on OLX and 99acres. Buyers should verify ownership documents, registry status, and any encumbrances through a legal expert.

2. What is the condition of the house?

As a ready-to-move property generating ₹1.30 lakh monthly, the house is likely in good condition. However, buyers should conduct a physical inspection to assess maintenance, plumbing, and electrical systems.

3. Can the rental income be increased?

Given the high demand near AIIMS, rental rates could be adjusted upward, especially for double room sets. Market rates for similar properties suggest single rooms could fetch ₹8,000-₹10,000 and double sets ₹12,000-₹15,000, potentially increasing income to ₹1.5-₹1.8 lakh monthly.

4. What are the maintenance costs?

Maintenance costs for a 18-room property may include utilities, repairs, and property taxes, estimated at ₹10,000-₹20,000 monthly. Buyers should confirm exact costs with the seller.

5. Is financing available?

Banks like SBI and HDFC offer home loans for properties in Rishikesh, typically covering 75-80% of the property value. Buyers with good credit can explore loan options, subject to property valuation.

6. Why is the seller offering this high-yield property?

Sellers may have personal reasons, such as relocation or portfolio diversification. The ₹1.10 crore price reflects the property’s income potential, suggesting a fair deal rather than a distress sale.