It all began in the year 2001, when Civil Homes built its first housing colony of 55 feel-at-home bungalows in Bhainsepati, Lalitpur. This colony, replete with modern conveniences, security, children´s playground and gardens adorned with colorful flowers, soon caught the attention of many investors. And in the span of eight years, bungalows -- that look like templates of each other -- built together on huge tracts of land have dotted the landscape of Kathmandu Valley. It now appears this concept or craze has trickled down to Pokhara. Pokhara, one of the major urban centers in western Nepal, saw its first housing colony some five years back when Pokhara Homes laid foundations for 81 bungalows at Gharipatan´s 70 ropanis of land. A year later, another huge plot of land in the same area again succumbed to bulldozers and crowbars and same-styled houses with roofs like big capsized boats propped up. This was Annapurna Developers housing project called Fishtail Residency. A total of 63 bungalows will be built under this 400-million-rupee project. Pokhara Homes is offering each of its three-bedroom or five-bedroom bungalows built on 8-10 aanas of land for Rs 8 million to Rs 11 million. Out of a total 81 houses, 49 have already been booked and people have already moved in 22 of the bungalows. Fishtail, on the other hand, is selling each of its houses built on four aanas of land for Rs 6.5 million. “The environment is peaceful here and the area is fully secure. It also has all the facilities we need. It´s been a pleasant stay,” Sawitri Gurung Pun, who has been living in one of the houses of Pokhara Homes for the last three years, said. Both the companies have constructed the colonies targeting upper or upper-middle class families who want to live a peaceful life outside the hustle-bustle of the Kathmandu Valley. And both claim residents can virtually splurge in breathtaking natural surroundings, including life-size views of Annapurna and Machhapuchare mountains every day. Vigilant eyes of security persons guard both the complexes round-the-clock, and education, health and legal services are also available. As the concept of housing complexes introduced by Pokhara Homes and Fishtail Residency is gaining popularity, a fair number of developers are planning to invest their money in this burgeoning sector. According to Gandaki Real Estate Association, of around 120 companies that are planning to enter real-estate sector, more than half a dozen companies are planning to invest in housing projects. Said Yadu Nath Adhikari, president of Gandaki Real Estate Association: “Most of these investors believe housing market in Pokhara will undergo a tectonic shift like in Kathmandu and do not wish to miss this opportunity.”
By: MANOJ ADHIKARI AND SANTOSH POKHAREL
Source: Republica