Properties in Chandigarh: Top Residential Destinations

Ranking number 1 in emerging outsourcing and IT destinations, Chandigarh has definitely come out of age. A fully-planned city of India, it is home to several small, medium, and large scale industries. Regarding its real estate market, the city has been thriving largely on its burgeoning IT and tech sectors. Chandigarh IT Park has been the major booster for roping in more buyers and investors. Its areas like Zirakpur, Mohali, and Panchkula have proved to be carrying good potential for realty development. Let's have a look at top Chandigarh destinations that have been in the radar of buyers from quiet sometime now.

Ambala Highway: One of the high-growth ares for Chandigarh properties, the 4-lane Ambala Highway is known for huge traffic density that it carries on regular basis. The property rates aren't too high here. A 2 BHK flat is available at a price as low as 20 lakh.

Dera Bassi: It has got the strategic advantage of being located on Delhi-Chandigarh Highway. Dera Bassi is known for a number of educational projects. Residential sales has been on the upper side and this has made it an important hub of Chandigarh properties. Renowned builders have forayed here and launched their projects. To buy a two room flat in Dera Bassi, you need to shell out at least 15-17 lakhs.

Ziarkpur: Another important location that carries the tag of being an important center for properties in Chandigarh is Zirakpur.  The area has seen proliferation of luxury residences. Some big builders have launched their projects here. Proximity to Chandigarh's IT Park has rendered it a significant residential destination. Over past few years, the prices at Zirakpur have been on the upswing. The average price for a 2 BHK here is 20 lakh.

Mohali: Considered an upmarket, Mohali is a significant residential and commercial hub for buyers of property Chandigarh. Infosys, the IT giant, and Quark, the tech giant have successfully roped in buyers as well as investors.

Kharar: Located at about 15 km from Chandigarh, Kharar is an upcoming market. Greater Mohali Development Authority has taken plans for its full-fledged development. To buy a two-room apartments in Kharar, the prices begin somewhere near 15 lakh.

In the first quarter of 2014, Dera Bassi and Mohali underwent 21% and 3 % price appreciation respectively. Contrastingly, rates went down by 3% in Mohali. The prices remained almost stagnant in Kharar. Chandigarh, on the whole, witnessed a drop of 8% in price rates in the corresponding period.