I seriously feel the hill station has its value only becuase of Naini lake, you remove the lake and the hill station is wiped out. Mall road is like any other mall road on a hillstation. Avoid buying sweaters from the shops are most of these are made in Ludhiana and you can get these at much cheaper price in your own city. However local shawls are a must buy. Bargain a lot especially in Tibetan market and all the shops on Mall Road. Start with a price of atleast 40% of the list price and dont give up , you will get much better price. The tour & travel shops are thugs and they will loot to maximum so bargain there too. I got a taxi for Rampur drop at 3000 and the rates offered ranged from 3500/- to horrific 6500/- for a distance of just 130kms.
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