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Why urban Indians are heading to buy weekend homes

Elegant farmhouses, koi ponds, equestrian facilities, themed event venues, beachfront gardens, and private golf courses – India’s uber-rich have always splurged on their lavish vacation homes. Now, people of more modest means are getting on to the leisure-property ladder, buying weekend retreats to escape the madding city crowds.

Urban India’s increasing quest for solitude is turning the foothills of the Himalayas or the Aravalli, and the verdant countryside around Mumbai or Bangalore into vacation-home hotspots, building in the process an ecosystem that appears to follow conventional market economics – of balanced supply and demand.

Mehak Chopra is one such discerning consumer who opted for a weekend home in Dehradun when she travelled with her family during the last weekend of February. A frReal EstateReequent traveller, Chopra never settles for any luxury exotic hotel at hill stations. “The idea is to have quality time at a place where you can be yourself without any disturbance,” she says. “Weekend homes let you do that,” she says. The Delhi-based marketing honcho, who stays on rent in the capital, is exploring the option of buying one such property this year and putting it on rent. “It’s value for money.”

Source: www.economictimes.indiatimes.com