Real Estate Scenario In Chandigarh

By Author: mahesh sharma
Total Articles: 7
Comment this article

Chandigarh is often regarded as ‘The City Beautiful’ and is the first planned city of India, which is known for its excellent architectural design. Alike other state capitals in India, Chandigarh are also undergoing real estate developments in full swing. The property segment of Chandigarh is also reaping benefits because of the current economic boom owing to its strategic location which is its proximity to the national capital, Delhi.

Chandigarh has marked a remarkable growth in the past few years because of its astonishing infrastructure, roads and rail connectivity, besides a well-planned civic administration. These are some of the reasons why so many investors started looking for investing in real estate segment of this rapidly developing city. Buying a property in Chandigarh certainly ensures great returns on investments for future, as the demand is soaring.

Chandigarh is one of the main industrial centers of the northern zone, which has led to a strong economic growth in the region. There has been an expansion of industrial activities in ...
... the area, which has been an important factor for luring a number of both trained and untrained workforces to the city. In addition, the corporate sector in the city has also witnessed investments from corporate giants like Infosys Technologies Ltd., Wipro Technologies Ltd., Tech Mahindra Ltd., etc. The government has also taken steps to establish biotechnology and IT parks in the city.

Buying property in posh localities of Chandigarh has now become costlier, because demand is high and the number of flats is less in number as compared to demand. Because of such a situation, government is taking steps to develop the peripheral locations of the city as potential alternatives, which include:

Panchkula

Panchkula, a planned township near Chandigarh is divided into 3 phases. The area between sectors 1-19 forms a large triangle, which is predominantly an industrial area. Another phase includes district centers and well-developed sectors 20-30. The last phase includes a newly proposed project, which would extend beyond Ramgarh to the some existing sectors.

The prices of properties in Panchkula are getting higher because of the increased industrial and business activity in the area. It is a hot locality that is home to all types of facilities required for modern living. With booming realty sector, Zirakpur is emerged as one of the best places to invest in a property in Chandigarh.

Zirakpur

The government has come up with a number of IT and business parks in Chandigarh, among which many are located in Zirakpur. This has led to surging demands for property in this area. Renowned properties developers consider foresee Zirakpur as a potential real estate destination. Zirakpur offers a good investment option because of the strategic location. It is close to three National Highways and also provides multiple affordable options. Projects like Krishna Enclave, Royal Estate, Ansals Woodbury, Nirmal Chhaya Towers and many others have added to the real estate value of the place. Zirakpur has experienced some remarkable real estate developments on Ambala road with the construction of a number of shopping malls, hotels, housing projects and others.

Mohali

Mohali also offers great investment opportunities with the establishment of leading Multinational Companies. Buying a property in Mohali is comparatively cheaper than that in Chandigarh. A number of residential projects have been launched in Mohali by renowned builders like Emmar-MGF, TDI and Unitech, which are available as 1/2/3/4 BHK flats. The costs of the flats vary according to the location and size. The most popular are flats with one or two bedrooms, particularly among the students and young professionals.