Jammu sees a surge in Real-estate prices following Kashmir Unrest

Srinagar: Land prices and tariff accomodation in Jammu has seen a surge since last three weeks, following the unrest in Kashmir.

Kashmir has been witnessing unrest for more than three weeks now in the wake of killing of Hizb commander Burhan Wani in which more than 50 civilians have lost their lives while thousands are injured.

If sources are to be believed, the property dealers in Jammu have almost doubled the cost of the land as many in Kashmir who are financially well off have preferred to buy land in Jammu as well.

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Sources said in Bathindi area of Jammu city, a marla of land which earlier would cost around Rs 2 lac is now being sold at Rs 3 lac.
“As Kashmiris from last few years have been buying land here as well, the prices have witnessing a surge. While earlier a marla in Bathindi would cost around Rs 1 lac back in 2007, now it is being sold upto Rs. 1.5 -2 lac. But very recently due to the situation in Kashmir, the land owners have further surged the prices,” a source said.

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Similarly in other areas of Jammu city including Channi, Sunjuwan, the land prices have also witnessed an abrupt surge as the area has been preferred by Kashmiris to build structures.

“We have desired to buy land here from last month but now we are seeing that the price has been hiked by the property dealers,” said Muhammad Amin, a resident of Sopore.

Not only land prices but the rent for accommodation too has been hiked manifold by the landlords in Jammu.

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Valley based traders complain that the rent in many hotels, and guest houses in Jammu has been increased after witnessing increased flow of people.
“Earlier an ordinary hotel would demand some Rs 1200 for a night for one room but now it has gone up to Rs.1500-1800. People from New Delhi are returning to valley while few leaving valley usually stay in Jammu for few days. Seeing this flow of people from both sides, the local guest house owners have increased the tariff,” said Mufasir Ahmad, a student.

Same is the scene in New Delhi, where the tariff for accommodation has sky rocketed from last two weeks.
In New Delhi’s Lajpath Nagar, Okhla and other places, to own a flat has become nearly impossible for a middle class person from Kashmir.
“From last two week, people especially merchants and students have rushed here in wake of the prevailing situation in Kashmir. The landlords have accordingly hiked the tariff and it becomes difficult for a Kashmiri to find a flat to live in here.

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