Explore the top 5 upcoming investment areas in Varanasi's real estate market for 2024

With a budget of Rs 19,150 crore allocated for comprehensive development, Varanasi is poised to emerge as a prime real estate investment destination in Uttar Pradesh. Government initiatives focusing on enhancing rail, road, and other infrastructure will catalyze growth across the Kashi and Purvanchal regions.

Varanasi, known as the city of "liberation," stands as one of the world's oldest continuously inhabited cities. Nestled along the banks of the Ganga, Varanasi presents a rich tapestry of lifestyles, showcased by its 84 Ghats and diverse cultural landscape. Currently, the city is undergoing comprehensive infrastructural development, highlighting government initiatives and their achievements. Projects such as the Ring Road, Varanasi-Kolkata Expressway, International Cricket Stadium, and Freight Corridor have catalyzed the emergence of new real estate investment opportunities in Varanasi.

This sustained development and strategic planning have paved the way for Varanasi's growth in the real estate sector. Many of its micro-markets have evolved into hubs driving citywide expansion. Areas like Shivpur, Chitaipur, Paharia, Babatpur, and Pandeypur are particularly promising for real estate investment due to their strategic locations and developmental prospects.

Varanasi city

Best 5 emerging areas to invest in Varanasi

Varanasi, a heritage city in Northern India renowned for its tourism and textile industry, is increasingly becoming a sought-after real estate investment destination. Below, explore the prime upcoming areas in Varanasi for property investment. Each locality presents distinct advantages and promising developments, making them attractive choices for prospective homebuyers.

Shivpur, Varanasi

Shivpur in Varanasi is a prominent residential area known for its upscale housing options, offering a variety of apartments and plots developed by local builders like Rudra Real Estate and Awadh Group. The average property price in Shivpur stands at Rs 5,150 per sq ft, showing a growth of over 35 percent in the last five years. Plot prices range from Rs 19 lakh to Rs 1.05 crore, catering to different budget segments.

Located approximately 17 km from Lal Bahadur Shastri International Airport via National Highway (NH) 31, Shivpur offers convenient air travel options. Its proximity to industrial zones such as Bharat Heavy Electricals Limited (BHEL) (five km away) makes it a preferred choice for working professionals, thereby boosting housing and rental demand. Shivpur is poised to benefit from upcoming developments like the Varanasi Metrolite Project, which will further enhance its connectivity and attractiveness in the real estate market.

Also Read: How are a temple and an airport changing Ayodhya’s real estate?

Social amenities near Shivpur, Varanasi
Educational institutes Medical centres Recreational hubs
Devyansh Public School Nagar Mahapalika Hospital Dhamekh Stupa
Sant Atulanand Convent School S L Multi-Speciality Hospital Chaukhandi Stupa
RSMT College Heiwel Hospital JHV Mall
Chitaipur, Varanasi

Chitaipur, located in Varanasi, is a residential area known for its mid-segment properties, predominantly comprising independent houses and plots. Its strategic positioning near major highways like NH-19 and SH-74 ensures excellent connectivity, facilitating easy travel both within the city and beyond. The Varanasi Junction Railway Station, just eight km away, adds to the convenience of residents with accessible rail transport.

The average price of plots in Chitaipur stands at approximately Rs 4,500 per sq ft. Competitive rental rates further enhance its appeal, with 2 BHK apartments fetching between Rs 5,400 and Rs 12,000 in rent. This makes Chitaipur an attractive choice for property owners and investors seeking steady rental income.

An upcoming Metro Line proposal connecting BHEL and Banaras Hindu University, located just two km away, is poised to significantly improve Chitaipur's connectivity. This anticipated development is expected to bolster real estate growth and solidify Chitaipur's status as one of Varanasi's emerging investment hubs.

Social amenities near Chitaipur, Varanasi
Educational institutes Medical centres Recreational hubs
Institute of Medical Sciences-BHUs Life Line Hospital V2 Value
International Hindu School BK Heart Hospital Surya Sarovark Park
Sunbeam School BHU Trauma Centre Variety Shopping Mall

Paharia, Varanasi

Paharia, rapidly emerging as a prominent real estate hub in Varanasi, boasts growing infrastructure and a strategic location that appeals to potential investors. The area predominantly offers independent houses and builder floor apartments developed by renowned builders like Rudra Real Estate, KGR Greens Infratech, and Visionary Buildtech. Independent houses in Paharia are priced between Rs 48 lakh and Rs 1.48 crore, catering to various buyer segments.

Located adjacent to Pandeypur, Paharia enjoys excellent connectivity with NH-31 passing through and NH-28 running alongside. Its proximity, just six km from Sarnath—a renowned tourist destination famed for its historical and cultural significance—further enhances its attractiveness.

Social amenities near Paharia, Varanasi
Educational institutes Medical centres Recreational hubs
KIDZEE Srijan Hospital Shapuri Mall
Kamakhya Convent Public School Holy City Hospital and Trauma Centre JHV Complex
Benaras Public School Friends Hospital Tulsi Complex
Babatpur, Varanasi

Babatpur is rapidly gaining popularity as a key real estate destination near Varanasi Airport, offering a blend of accessibility, affordability, and promising growth prospects.

The area predominantly features independent plots, starting at prices from Rs 10 lakh onwards. Notably, renowned developers such as 99 Square Feet Infralife, Lalmani Builders and Developers, and Winsome Developers are involved in upcoming housing projects, promising quality living options.

Babatpur benefits from excellent connectivity via the Varanasi-Lucknow Highway and State Highway 98, ensuring seamless access to other parts of the state. Additionally, the Airport Road provides convenient connectivity to various parts of Varanasi city, enhancing its appeal as a preferred residential and investment destination.

Also Read: Planning to buy property in Ayodhya? Here is your legal guide!

Babatpur is well-equipped with the below-mentioned social amenities:

  • Education: The area has several schools, such as Seth M.R. Jaipuria School and S.S. Public School, that provide quality education.
  • Healthcare: Several healthcare facilities and clinics, including Sanmukh Hospital and The Health City Hospital, are in and around Babatpur, ensuring that medical care is readily available.
  • Shopping and daily needs: Local markets and RMCL shopping centres cater to the daily needs of the residents.
Pandeypur, Varanasi

Pandeypur is renowned for its ready-to-move villas and residential plots, providing modern amenities and excellent connectivity. The pricing for 2-3 BHK apartments typically starts around Rs 49 lakh, varying based on location within the locality, amenities offered, and the age of the property.

Situated along Azamgarh Road, Pandeypur benefits from robust connectivity with NH-28 and NH-31 passing through the area, facilitating easy travel to various parts of Varanasi and beyond. The Varanasi Railway Station is just five km away, while Lal Bahadur Shastri International Airport in Babatpur is approximately 20 km from the locality. Additionally, the proposed metro corridor connecting BHEL to Banaras Hindu University will pass through nearby Bhojuveer, located just three km away.

Pandeypur's proximity to well-known tourist destinations such as Ganga Ghat, Shri Kashi Vishwanath Temple, and Chaukhandi Stupa, all within a radius of five to seven km, adds cultural and historical richness to the area.

Social amenities near Pandeypur, Varanasi
Educational institutes Medical centres Recreational hubs
New Varanasi Public Schoo Vatsalya Hospital Ganga Ghat
Akashdeep Public School Pandit Deen Dayal Upadhyay Government Hospital Chaukhandi Stupa
Little Heaven English School Vimloday Hospital PND Mall

In conclusion, Varanasi is experiencing rapid growth and evolving into a top investment hub. The focused development on infrastructure not only improves connectivity but also assures significant returns for real estate investors. This positions the city as a pivotal area for future expansion. Therefore, these emerging investment areas in Varanasi provide excellent opportunities for investors seeking long-term profitability. However, it's prudent to conduct comprehensive research or seek advice from a financial advisor before committing to any investment decisions.

Also Read: How are a temple and an airport changing Ayodhya’s real estate?

Frequently Asked Questions

Ans 1. Predictions for 2024-25: Property prices in Delhi NCR are projected to grow by 4-7% over the year. This growth will be driven by ongoing and upcoming infrastructure projects such as the Regional Rapid Transit System (RRTS) and the development of smart cities in the region.

Ans 2. Varanasi is one of the top emerging locations that has attracted the attention of many investors recently. This is because of factors like growing infrastructural developments, government measures, and better living standards. Varanasi also known as Banaras or Kashi is a tier II city in India.

Ans 3. There are also some provisions under this act pertaining to the immovable properties which cannot be transferred. This includes property transfers by wills, inheritance, insolvency, forfeiture, and easement rights. The transfer of Property Act also prohibits the transfer of land in favour of an unborn child.

Ans 4. RBI Governor Shaktikanta Das projected real GDP for 2024-25 Q1 at 7.3 per cent, Q2 at 7.2 per cent, Q3 at 7.3 per cent, and Q4 at 7.2 per cent

Ans 5. During the ages Varanasi has produced master craftsmen and Varanasi has earned name and fame for its Sarees, handicrafts, textiles, Toys, ornaments, metal work, clay and wood work, leaf and fibre crafts. With ancient crafts, Banaras has not lagged behind in Modern Industries.