Pavagada
Pavagada, a prominent historical site in Karnataka, is home to an array of ancient temples, the world's second-largest solar park, and rich natural beauty.
Location Information
Overview
The real estate market in Pavagada is primarily dominated by agricultural land and residential properties. The average price per square foot ranges from INR 2,000 to INR 3,000. Over the past few years, the area has seen steady growth due to increasing investments in renewable energy projects.
The Lifestyle
The community in Pavagada primarily consists of farmers and laborers. The lifestyle is largely traditional, with residents leading simple and humble lives. The local culture is vibrant, filled with colourful festivals and folk arts. The community is also known for its weaving industry, specifically the production of Pavagada Khadi.
Attributes
Rich historical significance | World's second-largest solar park | Traditional lifestyle | Agricultural economy | Traditional weaving industry | Vivid local festivals
You're sure to adore
Pavagada is a town in Tumkur district of Karnataka, known for its historical and natural beauty.
The Market
Pavagada market is a bustling hub of activity featuring local produce and goods with prices that cater to a wide range of budgets.
Connectivity
Airport
The nearest airport to Pavagada is Kempegowda International Airport in Bangalore, located approximately 180 km away.
Bus
Pavagada is well connected by KSRTC buses from major cities like Bangalore and Tumkur.
Train
Pavagada is well connected by KSRTC buses from major cities like Bangalore and Tumkur.
Road
Pavagada is well connected by KSRTC buses from major cities like Bangalore and Tumkur.
Social Infrastructure
Educational Institutions
Notable educational institutions include Government First Grade College, Pavagada and Sri Maruthi High School. For healthcare, the area is served by Pavagada Government Hospital and several private clinics.
Hospitals
Pavagada has several healthcare facilities, including the government-run Pavagada General Hospital and various private clinics.
Crime Rate
Pavagada has a lower crime rate compared to other parts of Karnataka, with most offenses related to property crimes.
Geography
Soil
The soil in Pavagada is predominantly red and loamy, suitable for growing crops like ragi and groundnut.
Topography
Pavagada is situated on a rocky terrain, with a semi-arid climate.
Altitude
The town is located at an elevation of about 646 meters above sea level.
Flora & Fauna
The region hosts a variety of flora and fauna, including species native to the Deccan Plateau.
Climate
Season at a Glance
Pavagada experiences a tropical climate, with summers from March to June, monsoons from July to September, and winters from October to February.
Rainfall
The average annual rainfall in Pavagada is around 560 mm.
Temperature
The temperature in Pavagada typically ranges between 20°C to 35°C throughout the year.
Real Estate Trends
Rental Yield
Rental yields in Pavagada are modest, averaging around 2-3% per annum due to the town's slow-paced growth.
Capital Appreciation
Capital appreciation is moderate, with a steady increase in property prices over the years.
Average Price per sq.ft
The average price per square foot for residential properties in Pavagada is around INR 2,000.
Demand & Supply Dynamics
The demand for properties in Pavagada is stable, primarily driven by local residents, with a steady supply of residential and commercial properties.
Short Term Rental Trends
Types of Assets (No. of AirBNB Listings)
There are a few Airbnb listings in and around Pavagada, mainly in the form of homestays and guest houses.
Revenue Potential
The revenue potential from real estate in Pavagada is moderate, driven by the town's steady growth and development.
Occupancy Rate
The occupancy rate for rental properties in Pavagada is relatively high, averaging around 80%.
ADR
The average daily rate for Airbnb listings in Pavagada is approximately INR 1,500.
RevPar
The Revenue Per Available Room (RevPAR) in Pavagada is estimated to be around INR 1,200.
Investment Guide
1. Investing in agricultural land can provide good returns due to the area's growing solar power industry. 2. Residential properties near educational institutions or healthcare facilities can yield higher rents. 3. Consider investing in commercial properties near major attractions like the Solar Park or the Shani Mahatma Temple.