What Prevents Real Estate in Chandigarh from Becoming a Big Name?

Makaan.com

Ever wondered why Chandigarh is not  still the bigwig of real estate, given that it has well-developed infrastructure and all the prerequisites that are necessary for competing with top players like Delhi, Mumbai, or Gurgaon? The city was predicted to tread the same path as these metros have covered, but it failed to do so. Let's have a peep into the issue.

The real estate in Chandigarh saw a few IT giants foray to the city, by setting up their centers, Still, Indian population carries the tendency to go for other hotshots of software like Bangalore, Chennai, and Hyderabad. The reason for this is very clear. The software companies that have opened their branches in the city continue to operate from their well-established bases in South. As a result, Chandigarh could never really get the impetus that could bring it among the forerunners of the IT industry in India.

The city, being a tier II, faces stiff competition from the tier I cities, as far as growth of corporate sectors is concerned. The real estate Chandigarh ranks much below in terms of corporate culture. The job opportunities, therefore, are very not high. And the local people continue to thrive on small-scale industries for seeking employment. Those who want white-collared jobs, have to move out of the city. Low number of jobs does not let the inquiries for residential and commercial spaces to rise to any substantial level.

One of the other reasons that may be held responsible for lack of interest of investors in the city is the non-competitive prices. The realty rates in the city continue to remain low. Though his trend is favorable for end-users, from investors' point of view, Chandigarh is not an option where one can expect high ROI(Return on Investment). Big developers and builders, seeing the dismal demand, hesitate from venturing into the city. To know more about properties in Chandigarh view at Makaan.com