Guide for Bilaspur Residential Real Estate Investment

An epicentre of sociocultural traditions of Chhattisgarh, Bilaspur had often been referred to as The City of Festivals. Moreover, due to its overall importance and impact on the state, Chhattisgarh High Court had bestowed this place with the prestigious title of the Law Capital here.

The city has recorded notable success with its booming electrical industry, becoming the primary hub of power generation for India itself. The widespread industrial boom has become synonymous with the state over time. Consequently, the real estate sector here had been impacted positively. As a result, more and more people are finding it lucrative to invest in this industry of Bilaspur. 

Why Should You Consider Investing in Bilaspur Residential Real Estate?

Some crucial aspects of why investing in the residential real estate market of the city can be beneficial for you has been listed below.

• Prospect of Becoming a Smart City 

India has launched a large-scale urban development scheme called Smart Cities mission where both the state and central governments will provide adequate aid to 100 cities so that they can become technologically advanced. The primary target of this mission is to have a trickle-down effect on the comprehensive sustainable development of the nation as a whole.

Bilaspur has been named one of these 100 cities and continues to showcase the remarkable potential for widespread development. The city has famously overhauled its healthcare system to ensure its residents can rest assured about their well-being. 

Moreover, with environmental awareness in mind, the authorities had given significant importance to alternative public transportation methods and tree planting. With such renovative measures underway, interest towards the real estate sector had also skyrocketed. So, investing in this sector now can be beneficial. 

• Upgraded Transportation System 

Residents of this city can feel more at ease here due to the improved transportation conditions in recent times. To elaborate, there are around-the-clock bus services which connect the city with all other major regions of Chhattisgarh. Moreover, as the zonal head office of the southeast Central Railway, the Bilaspur Junction has become a crucial link for the state to other noted cities all around India.

On the other hand, the quality of aerial travel has also been revamped exponentially. For example, Bilasa Bai Kewtin Airport of this city has received an upgrade to the 3C category. Therefore, even 72-seater planes will now be able to make a landing on this pivotal airstrip. 

• Push Towards Renewable Sources of Energy

A major reason why the housing industry in Bilaspur has seen a significant upwards swing is the city’s comprehensive commitment towards renewable energy generation. For instance, the state authorities had shown significant interest in solar plants and policies regarding installing rooftop solar panels at home. Moreover, the street lights here have all been replaced with solar-powered LED ones. 

Residential Real Estate Investment Opportunities in Bilaspur 

You can invest in residential real estate in these localities of Bilaspur:

• Sakri 

State highways 7 and 8 pass through this locality of Bilaspur, making it a hotspot for state-wise interconnectivity. So, it is no surprise that the housing sector here is on the rise. Moreover, the presence of renowned educational institutions in this area has been an added attraction. Note that the average property price here is around ₹2622 per square foot.

• Mopka

Improved healthcare service in this locality of Bilaspur had made this place an ideal centre for all-inclusive real estate development. There are a number of hospitals in Mopka from some of the leading names of the medicare sector, ensuring the residents will be in good hands in an hour of need. Here, the average price for residential property is around ₹2961/square foot. 

• Sarkanda 

Real estate developers had shown significant interest in Sarkanda due to its numerous intersections that connect Bilaspur with its neighbouring districts. Additionally, the presence of a widely popular supermarket in this locality can make it comparatively easier for residents to cater to their household needs. Prices for property here are currently averaging at ₹3212 per square foot.

Crucial Aspects of Consideration Before Investing in Bilaspur Residential Real Estate 

Before you invest in Bilaspur’s residential real estate sector, you must keep certain pivotal matters in your consideration. These had been discussed below:

• Quality of the Neighbourhood 

Ensuring you are buying a property in a safe and secure locality is an ideal course of action in this regard. So, consult with the other residents of the area to have an idea about whether there is a higher crime rate or any such other prevalent disturbances. Additionally, you must also know how far the property is from the local police station. A thriving neighbourhood can not only improve your standard of living but also can affect the resale value of this property positively. 

• The Reputation of the Real Estate Developer 

A thorough online browsing can give you a proper insight into the output quality of the builder from whom you are obtaining a residential property in Bilaspur. So, it is best to look through the builder’s website to better understand its portfolio and reliability. You can also learn about the past works which have been done by this organisation. 

This way, you can adequately judge whether this developer will be dependable for the construction quality of this property and its several amenities. 

• RERA Authentication of the Property

In 2016, the Indian Parliament passed Real Estate (Regulation and Development) Act as a regulatory measure for the country’s real estate market. The primary concern of this act is to safeguard the interests of potential homebuyers while increasing the scope of investments in the field. 

Therefore, all residential, as well as commercial properties, have to be registered under the Real Estate Regulatory Authority or RERA of the specific set. Therefore, before investing, ensure you visit the official website of Chhattisgarh RERA to verify the details of your shortlisted properties. 

Stamp Duty and Registration Charges in Bilaspur 

The stamp duty charges one has to pay in order to acquire a property in Bilaspur had been given below:

On the other hand, the registration charges for the same will be levied as per the rates as discussed below.

Future Forecast of the Real Estate Sector in Bilaspur  

A brief look at the developmental forecasts about Bilaspur can give you an insight into whether investing in real estate here can be beneficial in the long run. For instance, the entire state of Chhattisgarh itself had been gearing up for all-around sustainable growth, with the government’s Sanchar Kanti Yojana bringing the world closer to it through improved telecommunication methods.

Moreover, the federal government of this country has launched an Atal Mission for Rejuvenation and Urban Transformation (AMRUT) initiative focusing on improving the quality of lives of its citizens. Bilaspur is one of the leading cities that has significantly benefited from this mission.

To elaborate, the water supply and sewerage system, transportation management, stormwater draining mechanisms etc are witnessing a massive overhaul under this mission. So, it can be said that in the near future, such aspects can factor crucially into more people becoming interested in Bilaspur’s residential real estate sector.

Additionally, the authorities had been vocal about making the comfort of the citizens here their primary priority. That is why, special attention has been given towards pedestrian safety measures, designing parking spots, building recreational centres and similar ventures. 

Residential Real Estate and Other Asset Classes’ Comparison

Some of the key differences between residential real estate and other diverse asset classes have been discussed underneath.

• Residential Real Estate vs. Commercial Real Estate 

Whereas commercial real estate can lead to a comparatively higher return, residential alternatives have the potential to be highly beneficial in the long run. To elaborate, you can rent out a residential property with more effective ease than its commercial counterpart. 

Additionally, residential real estate investment allows you to claim certain tax benefits under specific terms – an option which is not available for commercial properties. 

• Residential Real Estate vs. Stocks and Mutual Funds

Financial experts have observed that in any given time span, the stock and mutual fund market is prone to a higher rate of volatility than the real estate sector. Therefore, the annual return for an investment in stocks can vary significantly based on the mood of the market. 

Therefore, if you are a risk-averse investor looking for a source of stable returns, real estate can be an ideal choice in this regard. 

• Residential Real Estate vs. Gold 

The higher liquidity of gold makes it an ideal choice for both long-term and short-term investments, whereas real estate is solely effective for long-term plans. However, when compared, real estate investments tend to fetch higher returns than gold investments. 

• Residential Real Estate vs. Bonds 

Bonds as a loan instrument and real estate investments both have significant potential in becoming your reliable sources of passive income. As it has a liquid market, bond investments can provide a more predictable income than one via renting out a residential property. On the other hand, residential properties can offer a higher return on investment. 

Having a comprehensive understanding of all these differences between the asset classes is quintessential for any investor. So, a one-stop comparison of these had been provided below:

So, apart from real estate, if you are considering investing in low-risk bonds for a stable income, consider registering at our website for the same. You can begin investing with us without having to worry about any added or hidden fees. 

Steps to Invest in Residential Real Estate Property at Bilaspur 

You must adhere to the steps as discussed below for a hassle-free experience:

Step 1: Calculate your budget for this investment plan. 

Step 2: Select a few properties of your interest. 

Step 3: Conduct a thorough onsite and online survey of these properties. 

Step 4: Consult with reliable real estate experts about the future prospects of the property and the locality where it is situated.

Step 5: Finalise the property you want to invest in.

Step 6: Check the RERA authenticity of this site of your preference. 

Step 7: Verify that all the data provided in the required documents are factually accurate. 

Step 8: Settle all your accounts to legally transfer the property ownership rights to your name. 

Step 9: Avail of an insurance plan for this property.

Final Word

As one of the 100 selected places to be turned into a smart city, Bilaspur in Chhattisgarh has seen a surge in its socio-economic development. This area and its surroundings are responsible for generating ten thousand megawatts of electrical power, with the concerned authorities hoping to further amp things up in the near future. 

Apart from the power generation, the city had a thriving rail, rice, coal, and silk industries – making it the business hub of Chhattisgarh’s north-eastern periphery. From advanced transportation and healthcare to increased environmental consciousness, there are several factors contributing to the growing demands for residential properties here. Therefore, investing in this city’s real estate market can be exponentially beneficial for you. 

Frequently Asked Questions