Why to live in Lonavala
A hill station adorned with the carpet of greenery interspersed with captivating cascades, serene lakes and astonishing caves - Lonavala is fondly called as the 'Jewel of the Sahyadri Mountains' and the 'City of Caves'.
As the gateway to natural locales in Western Ghats from the frenetic life, the ideal season in Lonavala is during the monsoon period of July to September. It is located at 2047 feet above mean sea level and the summer temperature is quite bearable at a maximum of 37°Cin the day to minimum of 19°Cat night. Winters cap the day temperature at 30°C and plummet to 10°C in the night.
Lonavala is a retreat to savour the pristine beauty of nature without the frills of taking anarduous journey and owning a property in Lonavala doubles up the merriment. Among the multiple hill stations in the Sahyadri range, Lonavala stands out for its ease of commute and proximity to metropolitans like Mumbai and Pune. While Mumbai is regularly flooded during monsoon season, Lonavala is at its picturesque best with cloud hidden peaks, lush green valleys and garrulous waterfalls. Probably it is the only hill station in India with world class theme park, wax museum, forts and numerous ancient historic caves from which the name of Lonavala derived.
Buying & Rental Trends in Lonavala
The land available in Mumbai is almost saturated and its mostly vertical development, prompting buyers to the vast swathes of Lonavala. A property for sale in Lonavala is deemed as the lucrative option to buy for the prospective customers who are interested in earning rental income from their properties. With the value of apartments in the Mumbai cosmopolitan’s suburbs running to crores it is seen as a prudent decision to buy a piece of land in Lonavala.
The palatial bungalows in Lonavala owned by families and celebrities for generations have enriched the charm of the terrain. Private villas have long been a fad in Lonavala offering refuge from the simmering heat. The market for second home in Lonavala is burgeoning at a quick pace with buyers from outside the state too expressing their willingness to buy a vacation or summer or retirement home here.
The sylvan settings of the hill station and the ease of accommodation beckons not only tourists but the work from home professionals to stay in Lonavala for an extended duration. There is also consistent demand to get a property for rent in Lonavala to those looking for a brief sabbatical from the rigours of their profession.
Economy of Lonavala
The economic growth engine of Lonavala is predominantly powered by the tourism industry. It offers the much needed peaceful habitat in the weekends for the people in nearby cities and also from the far flung towns. It is the most visited hill station in Maharashtra and unlike other hill stations it has ample options for the tourists like Adventure Park, Amusement Park and Clubs apart from sightseeing. Yoga and alternative medicine centres have stimulated growth in the hill station and is thronged by the health conscious travellers.
The vacation homes have long caught the fancy of big developers and the huge number of completed projects in Lonavala is an indicator of the economic value in real estate. Along with many marque projects coming up in the hill station, it is the Lonavala villa or bungalow or farmhouse that captures the attention of buyers rather than low cost housing. Companies figuring in the Fortune-500 list have their plants and training centres in Lonavala.
Chikki or the hard candy manufacturing business holds a paramount place in the economy of Lonavala and it caters to a legion of food lovers across states. It employs and sustains the income of many people in the town. Chikki is most sought after by tourists who gift it to their dear ones on returning back to their homes. Adventure activities too have bloomed in Lonavala offering diverse range of thrill to the youth and young at heart.
Why to invest in Lonavala
Lonavala is started being considered for primary home rather than second home as the Navi Mumbai is rapidly getting converted into business district. The upcoming international airport in the Navi Mumbai will accelerate this process exponentially for sure.
The elite group of builders renowned for their quality constructions have already made a mark with their signature apartment, villa, row house or luxury bungalow projects in Lonavala. Lonavala being the nearest hill station to Mumbai and Pune, easily accessible by road and train from both cities, these Lonavala properties are booked swiftly which is a testimony to the real potential in the place. It has been a lifetime preference for the uber luxurious from Mumbai to own a farmhouse in Lonavala and the trend continues to sustain this day.
Lonavala property price has ascended quickly in the last couple of decades. In the recent time, the residential real estate rate at Lonavala has been appreciating up to 10% year on year. The nearby Aamby valley is a glittering attraction with its star studded properties signifying the real estate value in the region as it ushered a new era of investments in Lonavala with remarkable returns. It proved to be a harbinger of development and unleashed an investing spree in this hill station.