Srinagar, May 28 -- Residential property in these areas isn't growing the way it used to. Over the last two or three years, prices have barely moved. Meanwhile, if you step into the mountain air of places like Gulmarg, Pahalgam or Sonmarg, it's a different picture. In these tourist hotspots, land prices have shot up-twice, even three times what they were before COVID hit.

It's not just a coincidence. After the pandemic, Kashmir's tourism sector saw a sharp revival. Visitors returned in big numbers, and investors followed. They're buying land for resorts, cottages, guesthouses and boutique hotels. The demand for tourist-facing infrastructure is rising fast, and the market is responding. Real estate, once a slow and steady game, is now lea...