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Property Market in Chandigarh

Author: Suraj Kumar Singh

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Over the years, foreign direct investments in Jalandhar have increased as more and more foreign investors including NRIs seem to realize the significance of investments in Jalandhar’s real estate segment. Be it the commercial property or the residential property or the retail sector in Jalandhar, there is a plethora of investment opportunities sure to return huge profits. There is a distinguished increase in the mushrooming townships in Jalandhar as well.

Foreign investors, mainly NRIs (Non-Resident Indians) with an eye on the steady and consistent growth in economy are showing interest by buying properties, making realty prices soar by quantum leaps. To buy property in Jalandhar is a smart choice as the profits hover around 7% to 10% in commercial properties whereas the residential sector offers somewhere near 4% to 7%. To further prove the point, the Indian government is also keen on taking proactive measures towards garnering maximum FDIs

Not only multiplexes and malls, Jalandhar is all set to welcome a multi-dimensional recreational club to satiate the elite citizens. Conceived and actuated by Nitishree Builders, this dream project of a recreational club also includes the building up of an exclusive NRI project in Jalandhar city, a township complete with all the luxuries of a stylish and imperial lifestyle.

Success of the real-estate boom in the tricity of Chandigarh, Panchkula and Mohali has also started spilling over to towns on the periphery. A good example is Zirakpur which is expected to offer a respite from the higher prices prevailing in the tricity, though the prices cannot go much beyond as they are very high already in the opinion of investors. Recent times have hardly seen any volatility in prices. There are takers mainly in the middle-income group.
Zirakpur like Panchkula, Zirakpur, Dera Bassi and Mohali, has become noticeable for developing and selling high-end luxury apartments. The price on offer is expected to be anywhere between Rs 50 lakh and Rs 1.50 crore.

Major real estate players the Silver City Group of Companies, Ansals, Gulmohar, DLF Parsvnath Developers Omaxe Construction Ltd, Unitech, TDI and MGF Emmar see demand for both commercial and housing demand and are launching viable mega real estate projects in Punjab.
The cluster that includes Zirakpur, Chandigarh, Panchkula, and Mohali is seeing a rise in apartment culture.

A real estate company is working on a sprawling mega housing-cum-commercial complex spread over 186 acres on the Chandigarh-Zirakpur-Patiala highway near Chattbir Zoo. JMD Promoters Ltd. which till now had targeted Ludhiana plans to extend its services to Zirakpur to bring the mall culture to the area. It is promoting the concept of housing societies.
ercial property scene.
MOHALI:

Even in the wake of marginal price rise, it is a commercially viable option to buy property in Mohali as the city is all poised to embark on a success journey. An investment in Mohali real estate is sure to give a definite leeway to buyers.

Upcoming Real Estate Projects

A whopping $ 3 billion is being pumped into real estate projects only in Mohali! That itself speaks volumes about the scale of work that is going on to bring this city up to such a level from where it shall be no lesser than Chandigarh and Mohali.

Mohali Hills, the residential nest, lies very close to Chandigarh. Adequately designed to take care of families to comfortably stay in a secure 3,000-acre environment, Mohali hills comes with a bouquet of offerings that include luxury villas, apartments, terraced town homes. Each of these promise privacy and protection that families and individuals need, and yet with the freedom to be one’s own ion grow in a healthy neighborhood.

The architecture is pleasant and charming and gives nature plenty of scope to cast a soothing effect on residents. Luxury apartments in Mohali have evoked mixed feelings, though as they come at a high cost and cover less area than residential plots. Central Plaza is committed to serving the residential community in Mohali Hills, apart from commercial interests.

Chandigarh is one of the most planned cities of India. Municipal Corporation of Chandigarh has introduced some of the best town planning programs in the city. A number of development companies and builders are investing here as investment in residential and commercial projects is extremely viable. Moreover being well connected with Delhi and NCR by the fastest means available, has led to the frenzied rush for investing in Real Estate Chandigarh Market.

Real Estate Chandigarh is considered one of the best residential ventures by the Indian Government. The city has seen a large number of people moving into the city and hence creating a demand for proper housing facilities in Real Estate Chandigarh. Builders and property developers have been prompt to convert this demand. Property in Chandigarhcommands a place among the best investment properties in India. Chandigarh Properties have always been on high demand.

Chandigarh's regional boundaries have gradually increased to accommodate a number of settlements from Punjab, Haryana and Himachal Pradesh. Thus intensive real estate development is taking place in Mohali, Panchkula, Zirakpur and Dera Bassi.

Zirakpur is a town in Mohali district in the Indian state of Punjab. It is on the Chandigarh- Delhi highway and enjoys great proximity to the Chandigarh airport. The dual advantages lends it the opportunity to be developed as a self-sufficient township.

Construction of penthouses is on in Zirakpur by Silver City, a leading construction company. Bartana in Zirakpur is being developed as the site for luxury apartments like the IT Park in Mohali. Jogging tracks, gymnasium, power backup, security, and maintenance staff enjoy a premium position with a lot of residents. Buying flats in the surrounding locations has become easier as they are sold at prices lower than those quoted for luxury apartments.

The Zirakpur masterplan which has been prepared by the Town & Country Planning Department has evinced a response in terms of inquiries from all quarters. Its approval by the Punjab Government in a bid to contain the staggering and unregulated growth has served the purpose of raising hopes and boosting morale in the residential and commercial boom.

The recent trends in lifestyle, economic status, demand for amenities like security and power back-up has prompted Zirakpur real estate developers to push the idea of building high- end luxury apartments and penthouses in peripheral areas of the cities.

About Author

Suraj Kumar Singh is an associate editor to website http://www.indianground.com providing consultancy for Real Estate India with hands on experience in the sector. He has gained proficiency in issues like real estate India, finance, insurances, and investments in India. Feedback and queries are welcome at kumarsingh.suraj@gmail.com

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Property Market in Chandigarh