Briefing about lakshadweep: Lakshadweep, the group of 36 islands is known for its exotic and sun-kissed beaches and lush green landscape. Of these only 10 are allowed to be visited by tourists and the rest of the islands are uninhabited. The name Lakshadweep in Malayalam and Sanskrit means ‘a hundred thousand islands. It is a uni-district Union Territory and comprises of 12 atolls, three reefs, five submerged banks and ten inhabited islands.. The inhabited islands in Lakshadweep are Kavaratti, Agatti, Amini, Kadmat, Kiltan, Chetlat, Bitra, Andrott, Kalpeni and Minicoy.
Infrastructure in Lakshadweep
Lakshadweep is home to around 64,429 residents with the 91.87% Literacy rate. Lakshadweep can be reached by ships and by air. Kochi in Kerala is from where you can board the flight to reach Lakshadweep. Kochi is around 440 km from Lakshadweep.
Public utilities in Lakshadweep
With the presence of these utilities, the real estate here will also show an upward growth very rapidly. There are 13 banks, 13 guest houses, 10 postal centres, 13 electricity offices, 10 hospitals and 14 ship ticketing counters here.
Best time to investment in Lakshadweep’s Realestate
The demand for property in Lakshadweep has seen to rise by leaps and bounds ever since Prime Minister Narendra Modi visited the island on January 2, 2024. Its going to replace many tourist destinations to become the number one choice for a visit very soon. Investing in the Union Territory can emerge as a strategic investment venture due to the booming tourism industry and the archipelago’s unparalleled natural beauty. Recent research has shown that there has been a growing demand for exclusive and eco-friendly accommodations capitalising on the region’s allure. Prime Minister Narendra Modi inaugurate development projects worth over Rs 1,150 crores. Kavaratti was selected under the Smart City Mission in Round 4 that includes Total Project cost upto Rs 527 Crore. Keeping that in mind the Realestate is about to boom very soon. Once you miss the opportunity you won’t be able to dive to this lucrative investment opportunity again. The personal experiences shared by PM Modi have inspired people to visit and show interest in property in Lakshadweep. If you are in awe of pristine water and tropical paradise, then property in Lakshadweep can be a great investment avenue. Its breathtaking landscape and ecological balance not only offer you a piece of land but also add a slice of natural beauty
Telecommunication Facilities
Only BSNL and Airtel provides telecommunication services to Lakshadweep Islands. BSNL provides connectivity in all 10 inhabited islands where as Airtel provides connectivity to Kavaratti and Agatti islands
Steps to buy property at Lakshadweep:
Eligibility & Permission: The first and most crucial step is obtaining prior permission from the Lakshadweep Administration. This involves submitting an application with details like the type of property, intended use, and financial capability. The Administration considers various factors before granting permission, including the property’s location, environmental impact, and potential disruption to the local community.
Find Your Dream Property: Once permission is granted, you can start searching for your dream property. Lakshadweep Real estate has a limited real estate market, so options might be scarce. Consider collaborating with local Lakshadweep real estate Market agents familiar with the island’s specific regulations and available properties.
Land Records Verification: Remember, not all land is available for purchase. Utilize the official Land
Records website to verify ownership and ensure the land isn’t earmarked for development projects. There is an official government website providing all the information. Search land Records in Lakshadweep https://land.utl.gov.in/Process/Login-Page.
Engage a Local Lawyer: Navigating the legalities of property purchase in Lakshadweep is complex. Hiring a reputable local lawyer is crucial to ensure a smooth and compliant transaction.
Sale Agreement and Documentation: Once you’ve found the perfect property, negotiate the sale agreement with the seller. Ensure all legal documents, including title deeds, property tax receipts, and encumbrance certificates, are in order. Consulting a lawyer specializing in Lakshadweep property law is advisable.
Registration: Finally, the sale deed needs to be registered with the Lakshadweep Administration to officially transfer ownership to your name.
Registration process:
Islanders who wish to register their land need to apply to the Assistant Settlement Officer/Sub Divisional Officer of the island.
The procedure involves submitting forms and documents proving ownership.
Once approved, the land details are entered into the Land Register.
Charges:
Currently, there are no fees or charges associated with land registration for islanders.
However, fees might be applicable in the future depending on any policy changes.
Leasing for non-islanders:
Non-islanders can only lease property for tourism-related purposes through Lakshadweep Tourism Development Corporation (LTDC).
Lease agreements with LTDC might involve specific fees or charges, but details would need to be confirmed with them directly.
Lakshadweep Real estate Market: Additional Points to Consider
Property Types: Only residential property is open for purchase by Indians. Commercial property ownership is restricted.
Land Leases: Land ownership in Lakshadweep is typically through leasehold agreements, with lease periods ranging from 30 to 99 years.
Environmental Regulations: Construction on your property must adhere to strict environmental guidelines.
Limited Infrastructure: Be prepared for a simpler lifestyle. Lakshadweep has limited infrastructure compared to mainland India
