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Increasing Demand For Residential Real Estate In Mohali Chandigarh
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Mohali is becoming the next big real estate haven for developers and buyers. As an investment perspective, Mohali is gaining good points because of the betterment in infrastructure, relaxation in real estate tax and increase in the buyers’ tendency. This town located 8kms away from the Chandigarh city of Punjab, has witnessed both commercial and residential project growth. Turning into a smart city, the place has been in the eyes IT investors since long time. Moreover, residential projects are also booming here. From apartments to villas, buyers are showing interest to buy for future perspective.
Mohali is to Chandigarh what Gurgaon is to Delhi. It is most sought-after city of modern India. It is considered as a good investment to buy or sell in real estate in Mohali. This city offers abundant job and business opportunities for people from all sections of society. It is a well developed city and have excellent infrastructure.
Mohali was much better placed in terms of manpower availability and living standards, as compared to the other cities, yet they got the lion’s share of investment. The opening of Shaheed Bhagat Singh International Airport, things are really looking up for the city. There is a massive opportunity for investment in the Real Estate sector.
It is the most rapidly growing area of tricity with top class residents and lots of facilities which Punjab govt and tricity administration providing and also as this is the developing area buying property here at this point of time is easy and cheap but which will be beneficial as by next two - three years the rates of property will be double from now.
From industrial parks to hotels, the area around the airport has already started looking prosperous. As per industrial projections, at least 5,000 acres of land is under development in the airport’s vicinity. The airport expansion is also seeing a rise of several new businesses such as food and beverages (F&B) and transport business. Then F&B business has reportedly seen a growth of 20%-25% due to the increase in air traffic. It’s ditto for local cab operators.
Real estate projects in the vicinity of the airport are the bright spots in the otherwise gloomy real estate scene in the tricity. The start of international flights from the airport proved the spark needed to rekindle a business that had almost gone into hibernation.
Mohali is turning into an attractive market due to its air connectivity and host of commercial and infrastructural developments. The new airport has become the gateway for a host of opportunities.
Additionally the Punjab government has given the green signal for the metro rail covering Chandigarh, Panchkula and Mohali. This will greatly improve connectivity in the city. For those looking to invest in apartments in Chandigarh, the areas of Mohali, Greater Mohali and Zirakpur which are close to IT industries have seen a great demand for flats from professionals flowing in from these cities. These flats are mostly concentrated in the affordable segment than the premium ones.
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