Chandigarh: The Next Real Estate Destination!

The real estate scenario in the tri-city has been mostly calm in the first few months of 2013 with sales being low in the bordering areas of Panchkula and Mohali. However, experts believe that the present low sentiments are not going to last for long as the requirement for quality accommodation in and around the tri-city is growing gradually.

The beautiful city of Chandigarh is fast emerging as a preferred choice of destination in the real estate circuit of India, as an increasing number of buyers are preferring to buy a house in Chandigarh . With initiatives being taken by the government as well as private developers, the city has lots to offer to everyone even with some of the best places being already taken. That is because the realty market of Chandigarh is not just good in terms of the city but also the neighbouring areas like Mohali and Panchkula that are attracting buyers from all over India and even abroad. The tri-city is fast becoming a major hub for the IT and ITeS just like the cities of Bangalore, Gurgaon and Hyderabad. The price difference combined with brilliant connectivity is the reason for the huge demand of properties in Chandigarh.

Property market gaining momentum:

This invasion of the IT and ITeS in the city has proved to be a lucky thing for the regions in the vicinity as the prices of property in Chandigarh are very expensive and there is barely any fresh inventory in the city. It is the bordering areas and the towns of Mohali and Panchkula that are being eventually favoured by the IT professionals. As the buyers and investors are preferring to acquire a wait and watch method in the first trimester of 2013, it is the developers who are proactive and are aggressively launching fresh projects and marketing their products and even offering discounts and easy payment schemes to kick start the sales, particularly in the bordering areas. It is a fact that Chandigarh has seen a stealthy increase in its real estate market and has established its personal identity in a very short duration of time. There are few sectors in the city which are lavish and plush. Almost everybody living in the neighboring areas of the city have their own land or apartment in Chandigarh.

Rental gains in the city:

If you have either a small or a big house in Chandigarh, you can make good amount of monthly profits by renting out your space. For this, you have to ideally register yourself to the property agents of Chandigarh. These property dealers assist people for buying, selling and renting of houses at the preferred price rates. Modern Housing Complex, Devi Complex and Rajiv Vihar and also some close by parts of Panchkula that have seen a 25-30% increase in their rental values in the last few years. The majority of people who rent an apartment in Chandigarh are the professionals from IT and ITeS who take these flats either alone or on sharing basis. The landlords also prefer renting out their properties to these professionals as they get good rentals.

The leading developers and builders of the city are undertaking the responsibility to construct flats or apartments inĀ Chandigarh. There is just not one developer but a bee line of builders who are putting their full efforts to develop this beautiful city further. Pointless to say, the motivation for such development has been fuelled by the availability of property, and brilliant connectivity to the neighbouring states. As it is, Chandigarh is the first planned city of the country and with the most recent developments; it is all set to grow further into the most well-liked city to live in the approaching years.

Categories:   Real Estate


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