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Chandigarh Property Market: Growing At A Steady Pace

By Expert Author: Vinay Kumar

Chandigarh, the tier-2 city of India, has undergone appreciable real estate development. Scope for infrastructural development, urban design, and affordability are the major factors that have worked in its favor. Availability of land parcels has attracted a number of small and big investors here. The city has shown steady performance in IT and corporate sectors, a trend that has been responsible for diverting the attention of buyers from tier-1 cities of India. Let’s discuss more about Chandigarh property market.

The real estate rates across sub cities of Chandigarh like Kharar, Mohali, Zirakpur, Mohali, and Dera Bassi come under affordable segment. Mohali, better called SAS Nagar, has seen foraying of several multinational companies over year. Some tech giants have opened their establishments here. Quarks’ famous Quark City is a mega project valued at $500 million and spread over 46 acres. 30% of this project is dedicated exclusively for residential complex. Presence of SEZ has played a pivotal role in roping in more seekers of properties in Chandigarh.

Zirakpur, a town situated nearby Chandigarh, is a major realty player. With the establishment of an IT park in Chandigarh, Zirakpur has witnessed an appreciable increase in demand for residential properties. Panchkula, another planned township, is known for its corporate culture and spurred growth of software and biotech forms.

Chandigarh property prices come under affordable tag. Cost of a 2 BHK apartment across its various localities proves the same. Ambala Highway, Kharar Road, and Dera Bassi are the major locations where a two-room flat can be purchased in budget 10-15 lakh range. Over VIP Road and Patiala Road, the rates lie in 15-25 lakh. Inexpensive sectors of Mohali, i.e. sector 115 and 110 offer a 2 BHK in 10-15 lakh brackets. Sector 127, 116, and 125 carry slightly higher rates: a two-room flat for sale is available in the starting range of 20-25 lakh. However, price for the same in sectors 100, 104, and 114 may cost a buyer anywhere around 30-50 lakh. Chandigarh sectors 116, 125, 127 along with MAC Zirakpur too offer cheap residential properties.

Low vehicular pollution and strategically planned roads are the main USP of Chandigarh. IT sector is developing steadily. Still, the city has a long way to go before it can give completion to tier-1 cities of India. Corporate culture has to develop more and employment opportunities need to be created to bring boost to the real estate development.

But, rent and sell property in Chandigarh over online property site, Makaan.com. Look for unfurnished, semi-furnished and fully-furnished Chandigarh properties and sort them in terms of given parameters.

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