Igatpuri
Igatpuri, a scenic hill station in Maharashtra, is a paradise for nature lovers and adventure enthusiasts.
About the location
Overview
The real estate market in Igatpuri is growing due to its increasing popularity as a weekend getaway. Property prices range from INR 20-35 lakhs for plots and INR 35-80 lakhs for villas and apartments. The market is expected to grow with the increasing demand for holiday homes and investment properties.
The Lifestyle
Igatpuri offers a peaceful lifestyle amidst natural beauty. The community is a blend of locals and tourists, with Marathi being the prevalent language. The area is known for its hospitality and the local festivals, especially the Ganesh Chaturthi, are celebrated with great zeal.
Attributes
Scenic Beauty | Adventure Sports | Spirituality | Vipassana Meditation | Trekking Trails | Waterfalls
You're sure to adore
Igatpuri, a serene hill station nestled amidst the Sahyadri Mountain ranges in Maharashtra, known for its picturesque landscapes, historic landmarks, and vibrant local markets.
The Market
Igatpuri has a bustling local market that sells a variety of goods from fresh produce and spices to handicrafts and clothing. The market is a hub for local traders and craftsmen.
Connectivity
Airport
The nearest airport to Igatpuri is the Chhatrapati Shivaji Maharaj International Airport in Mumbai, approximately 120 kilometers away.
Bus
Igatpuri is well-connected by Maharashtra State Road Transport Corporation (MSRTC) buses. Regular bus services are available from major cities like Mumbai, Pune, and Nashik.
Train
Igatpuri has its own railway station which is a major railway junction on the Mumbai-Pune route, making it easily accessible.
Road
Igatpuri is conveniently located on the Mumbai-Agra National Highway (NH 3).
Social Infrastructure
Educational Institutions
Gagangiri Maharaj School, Igatpuri Public School | Bhavani Hospital, Primary Health Center.
Hospitals
Major hospitals in Igatpuri include Civil Hospital and Primary Health Centre. There are also several private clinics and pharmacies in town.
Crime Rate
The crime rate is relatively low in Igatpuri, making it a safe destination for travelers and residents.
Geography
Soil
The soil in Igatpuri is mainly lateritic, suitable for agriculture.
Topography
Igatpuri is characterized by hilly terrain with the Western Ghats running through it.
Altitude
Igatpuri is situated at an altitude of approximately 600 meters above sea level.
Flora & Fauna
The region is rich in biodiversity with a variety of flora including teak, bamboo and mango trees and fauna such as leopards, tigers, and various bird species.
Climate
Season at a Glance
Igatpuri experiences a tropical monsoon climate with heavy rainfall during June-September, pleasant winters, and moderately hot summers.
Rainfall
The average annual rainfall is around 3660 mm.
Temperature
The temperature ranges from 14°C in winter to 36°C in summer.
Real Estate Trends
Rental Yield
The average rental yield in Igatpuri is around 3-4% per annum.
Capital Appreciation
Real estate in Igatpuri has witnessed a steady capital appreciation of around 7-10% annually over the past few years.
Average Price per sq.ft
The average price per square foot ranges from INR 2,500 to INR 4,000.
Demand & Supply Dynamics
There is a steady demand for residential properties owing to the town's scenic beauty and peaceful ambiance, with supply predominantly consisting of independent houses and apartments.
Short Term Rental Trends
Types of Assets (No. of AirBNB Listings)
There are approximately 200 Airbnb listings in Igatpuri, including private rooms, entire homes, and unique stays like treehouses and farm stays.
Revenue Potential
The average revenue potential for a rental property in Igatpuri is around INR 20,000 to INR 25,000 per month.
Occupancy Rate
The average occupancy rate for rental properties is around 60-70% annually, peaking during the tourist season.
ADR
The average daily rate (ADR) for Airbnb listings is around INR 2,500.
RevPar
The revenue per available room (RevPAR) is approximately INR 1,500.
Investment Guide
1. Consider investing in holiday homes due to increasing tourist inflow. 2. Plots of land could be a good investment for long-term capital appreciation. 3. Proximity to natural attractions can increase rental yields and property value.
Places to Visit
25 km I A historic fort offering panoramic views and trekking opportunities.
30.5 km I One of the twelve Jyotirlingas.
36 km I A revered Jain temple, known for its intricate architecture and spiritual significance.
25 km I A historic fort offering panoramic views and trekking opportunities.