studio apartments in agra

Agra is a world UNESCO heritage site with one of the Seven Wonders of the World named Taj Mahal. The city nestled amidst hills has over 300 km distance from Lucknow. It is a city with high tourist footfalls that call for accommodation. Thus, the demand for studio apartments in Agra is massive among investors. Not locals, but investors from pan India lure towards the potentially high business growth here. Thus, we let you know key points about investment in the city of Uttar Pradesh.

Top Reasons for Investment in Studio Apartments in Agra

Call them benefits or reasons, profitability is the key for all investors. With home to one of the architectural masterpieces, the city has a lively ambiance. There is robust infrastructure, healthcare, and scenic views to embrace. Below we list the top reasons for property investment in the city that is reachable via a 4hr drive from Delhi.

1. RERA and Other Legalities

RERA, the Real Estate Regulatory Authority is the legal body in the state of Uttar Pradesh called to maintain transparency in work. The Government-regulated body ensures no fake property deals or investor hindrances. To ensure safe and secure property deals, realtors have to register with the authority.

Once the realtor is registered his/her upcoming projects in the city have to be RERA registered. It offers a legal certificate to the immovable asset. Hence, investment in luxury studio apartments in Agra is safe.

2. Stamp Duty

The Stamp Duty value is a bit higher in Agra in comparison to other states. The different stamp duty value across Uttar Pradesh is a reason for the same. The stamp duty for female owners stands at 6 percent, while their male counterparts have to pay 7 percent stamp duty. Parallel to this, if a property is jointly owned by a male and female then the stamp value stands at 6.5 percent. Similarly, if the studio apartments in Agra are owned by two females, the payable stamp duty is 6 percent. Going forward, the property ownership by two male individuals, then 7 percent is the value of stamp duty.

Studio Apartments in Agra and Property Market Overview

Agra also experienced the repercussions of the pandemic wave as property purchases recorded a low. However, the city did emerge out of the setback slowly but steadily. UPRERA data shows an increase in property registration since 2022. Thus, the demand for property registration has gained momentum which is continuing. Now that the COVID wave is over, the tourism industry is back on track. Hence, the demand for accommodation is witnessing a surge.

Agra city is mainly into tourism, manufacturing, food processing, and pharmaceuticals. In short, the city calls is more into industrial business. Hence, there is a majority of the migrant workforce constantly coming into the city. Thus, the lucrative rental income is easy to reap from studio apartments in Agra.

Ways to Invest in Studio Apartments in Agra

Budget is the main thing when it comes to property purchase and investment in studio apartments in Agra depends on it.

• Firstly, assess your budget and narrow down options accordingly.
• Secondly, connect with seasoned professionals to make site visits for a reality check. A scheduled site visit offers a real-time insight into locality, neighbourhood, law, and order. Not to forget it also renders clarity about connectivity and infrastructure.
• Thirdly, ask for property papers and check their legalities before finalising a studio apartment in Agra.
• Fourthly, calculate the payable amount and process the same. Again, check the stamp duty value before making the payment for the property purchase.
• Last but not least, check for an insurance policy as it covers the damage to the immovable assets in the city.

With expressway connectivity and high tourism, investing in luxury studio apartments in Agra is like securing the future. There are several well-positioned localities in the city to discover. Locations may differ but ownership of property in Agra is an investment one must look forward to.