Sikkim is an
Indian state situated in the Himalayas and is known to be landlocked.It is
the least populous state in the country and the second smallest in area after
Goa.In the past few years, the Sikkim Government has tried its level best to
promote tourism in the state and has been successful in its task as well.
Sikkim, the land of beautiful scenic surroundings, offers a huge
tourism potential and by tapping into this the state has grossed an earnings
windfall. Some of the major attractions of Sikkim are Orchid Sanctuary,Yumthang
Valley, Pemayangste Monastery,Rumtek Monastery, Pelling, Khecheopari
lake, Yuksom,Namchi,Tashding, and Dudbi Monastery.Real estate is the
most visible face of any Indian state or city, which is grabbing the
attention of potential investors and has persuaded most foreign players
to look forward to the country.
At present, most
cities in India are competing with each other for a prominent place as
commercially viable cities. The boom in the real estate sector over the
past five years has substantially added to the available premium property
stock.The states, which were once known to be quiet and dull, are zooming away
in the wake of new construction activities and strengthened infrastructure.
Such a phase of development is yet to embrace the states in not
eastern part of the country. A lot of supply to bring improvements
in their infrastructure is under construction and will be operational
soon.Some of the capital for building the physical infrastructure of
Sikkim will come from the center and the state. However, a large portion
of investment will have to be drawn from the private sector.The state requires preparing
an active policy to draw interests from private players.Apart from making an effective
use of its own funds to build up a string infrastructure, the Sikkim government
also needs to secure the co-operation of the central government and in
areas under the latter’s control.
The State is
otherwise promoting its eco-friendly industries, including floriculture.
The industries that are expected to expand soon in Sikkim belong to different
fields such as IT,healthcare,education and adventure tourism.
Such developments will certainly give a boost to real estate market
here by increasing the demand for commercial spaces and residential segments.As
for the IT sector,the State has developed a multitude of community information
centers,out of which, around 40 have been established.
By 2015, the
ongoing planning will help Sikkim to emerge as one of the productive
states and change its image from being a mere “money order economy” to a “self-reliant
economy”. As such,a number of industrial groups have shown inclination for
the areas to develop hotels and food processing units. These include the prominent
names like Hyatt, which has explored the possibility of developing a five-star
hotel for about Rs 200 crore.