Property In Chandigarh Attracts Investors

Real estate sites show that many people are now looking to invest in tier-2 properties in India. Among various other tier-2 cities Chandigarh is being touted as an excellent investment destination for all. Property in Chandigarh has till now been an end user driven market and so the real estate prices of the city are not speculative. This makes investment in a Chandigarh property a safe option as the property prices are stable. The buyer profile of Chandigarh property has undergone a sea change lately. Initially, people used to buy in property in Chandigarh to get quick gains but currently only the end buyer is buying Chandigarh property.

Real estate sites highlight that the demand of property in Chandigarh is driven by the budget segment. Smaller budget housing projects are attracting the end users. Many NRIs too are keen to invest in property in Chandigarh as people who come back to their roots for a vacation to their hometown they need a place to stay. Depreciating rupee has made investing in a property in Chandigarh even more attractive for the investors. Ready-to move-in Chandigarh property has become a major hit with NRIs as they don't have to deal with uncertainty about property possession date. Most of the NRIs who are looking to buy a property in the city do an online search on real estate sites to shortlist desired properties.

Makaan.com is one of the leading real estate sites that offers online real-estate service which is committed towards helping buyers, investors, sellers, dealers, builders make wise and profitable decisions regarding buying, selling, renting and leasing of properties in India and key global geographies. Makaan.com provides fresh approach to its users to search for searching Chandigarh property to buy and/or rent and lists their property in Chandigarh for selling and/or leasing.

Mohali: A Perfect Choice for Seekers of Chandigarh Property

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Referred to as SAS Nagar or Ajit Nagar, Mohali stands out as a leading commercial hub of Chandigarh. Over a decade, Mohali has made significant progress in terms of real estate, with prices appreciated many a times. Built on the lines of Chandigarh itself, it has been developed after meticulous planning. The city has been carved into 800 by 1200 m sectors. While some of these sectors have been developed fully, there are still many left that have to witness full-fledged development. As per the Master Plan, the city has to extended to 114 sectors in all.

Known for its historical importance and dotted with a number of educational institutes, Mohali is one of the most sought-after Chandigarh properties locations. The city has got its significance from the foraying of various IT and tech giants here. Dell, Quark, Infosys, and Philips are a few names that have established their set-ups here. Quark's prestigious 51 acres 'Quark City' is an excellent example of how Mohali has got itself transformed into a corporate bigwig. Valued at $500m, Quark City comprises of a residential complex, which forms 30% part of it.

Seekers of a 2 BHK Chandigarh property shall find Mohali a place that offers flexible price brackets. A two-room apartment can cost him as low as 15 lakh and as high as 5 crore. Some preeminent developers have launched their projects in Mohali. Wave Infratech, for example, has lunched Wave Estate, a 2-5 BHK residential project. Slated to be available by December, 2016, this project offers apartments in the flexible 56 lakh-2 crore price bracket. Other reputable names that have set off their residential projects here are Ansals, Unitech and Jaipuria Sunrise.

Major Developments that Chandigarh properties Have Been Witnessing in New Year

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Last year brought a dull phase in Indian property market. And in a city like Chandigarh, the sales were all-time low. The dollar became mightier against rupee, and Indian economy went down in dumps. Inflation, further ruined the spite of an average Indian buyer. The segment that gained from all this was that of NRIs. The increase in value of dollar was seen by them as a windfall and the number of inquiries increased in the city. Most of these inquiries are for locations like Mohali, Zirakpur, and other parts of Punjab. This indicates that Chandigarh real estate is gaining strength slowly and gradually.

Properties in Chandigarh are witnessing several NRI inquiries from different parts of the world like UK, Singapore, and US. And what they have been looking in properties to invest are top-notch amenities, comfortable spaces, and stylish decors. They either want to invest on these properties or want to put them on lease. Whichever be the case, the realty market in Chandigarh, or say, whole of Punjab has started staking an upswing.

Another major development that has added a feather to the cap of  Chandigarh property is the foraying of Lalit brand into the city; the business group has ventured into the market by opening a 5 star-hotel in Rajiv Gandhi IT park. This is expected to render city's real estate a real competitive edge over other cites. Till now, on an average, the occupancy rate in 5 star hotel has been only half, restricted to 50-60%. With Lalit hotel coming into picture, the completion has become more stiff for other hotels. The mismatched demand and supply ratio has already been an issue of big concern for these hotels.

A development that has deemed to have positive effect on realty market is the cutting rates of property tax by Punjab government. This step has been taken to rejuvenate the interest of buyers in purchase. By slashing the rate from 7.5% to only 3% is expected to bring back buyers to the market.

Hot Localities to find a Property in Chandigarh

Chandigarh Property at Makaan.com

With contaminated air taking a toll of health, over-congested roads getting on your nerves, and not an inch spared to move about freely, living in metropolitan cities like Delhi/NCR is more of a problem than a luxury. So, people have started looking for other options: Chandigarh, with its fresh air and serene climate, is one of the cities that people are now considering as their investment destinations. Buying a Chandigarh property incan be both lucrative as well as affordable. Let's see why.

The property rates are lower here, much below than that in Delhi, Gurgaon, or Noida. This makes buying a house or villa affordable in terms of prices. Invest on low rates and expect good returns a few years after. In fact, the recent hike in demand has already led to the escalation of prices. If this continues, real estate Chandigarh shall be seen as a lucrative market, both for developers and end-users. With prominent names like DLF and Omaxe gaining good footing here, the buyers can expect houses with the same facilities as that available in a world-class project. Still, the infrastructure is not up to the mark in many localities.

Let's have a look over Zirakpur, the satellite town located in the Shivalik foothils. As far as real estate Chandigarh is concerned, Zirakpur stands out among other cities: decent infrastructure, availability of luxury houses, and low cost of operation make it a city worth trying for, though most part of it is now already occupied. The price rate in the April-June, 2013 stood at an average rate of Rs. 3011/ sq. feet.

Buying an apartment at VIP Road gives you good connectivity with important commercial centers. The property price in the current quarter is Rs. 3028/-, relatively higher than what you find at places like Dera Bassi, Ambala Highway, and Patiala Road.

Panchkula, another satellite city, reflects an entirely different scenario. The rates are quiet high here; buying a flat here could cost you anywhere between 40 lakhs  to one crore, and even more. It is one of those Chandigarh properties that are out of the gamut of a common man. With an average rate of Rs. 5893/ sq. ft., it is not possible to look out for affordability, specially within sector 20. The other thing to note is that the prices here can increase drastically even within a few days.

Makaan.com is a Indian real estate portal that showcases properties from top-class builders and land owners. Here, buyers can look out for flats, plots, bungalows, office spaces, shops, and warehouses that come in different price ranges and types.

Buying a Property in Chandigarh: Why you should go for it?

Chandigarh Property at Makaan.com

Chandigarh, the Union Territory, stands high on the real estate charts, most of the factors being in its favor. Ranking second highest in terms of per capita income, the city easily attracts people to invest in property here. In spite of not being exactly a metropolitan, the buying trends have shown positive results. Let's see what makes the city a lucrative option for property buyers.

Though the city has many rural and under-developed areas like Butela and Attawa, investment in property could be a nice option, the reason being that these localities have recently been incorporated into the jurisdiction of municipality, thus raising the living standard here . Buying a property in Chandigarh can give a leverage to you as the city's quality living standards and  relatively low levels of pollution.

The other factors that go in a buyer's favor while buying Chandigarh property include well-planned infrastructure, easy accessibility via roads, and upcoming projects that intend to bring tech parks, airports, hotels into being in the coming years. A few hotels have been planned to come up in places like Panchkula, thus adding to much desired amenities by a person living in Delhi, Haryana, Gurgaon and planning to relocate to the city.

The real estate scenario in Chandigarh over the last one year saw a marked shifting, with the price per square feet having grown by 8.84%. This upward surge is an indication that buyers as well as developers have shown interest in the city. In places like Mullanpur, the buyers can seem interested in investment in properties in Chandigarh. The proposed construction of an expressway and the proximity of the area to hospitals and educational institutes makes the condition all the more favorable.

Having a well-planned design of roads and houses, being carved by the intellects like Le Corbusier, Chandigarh real estate continues to tread a positive trend. Buying a plot here rather than a flat or apartment is more preferable: local residents find it more profitable to do buy a plot first and then construct the house as per their needs. The residents are more likely to have spacious house, so buying a plot first as a property in Chandigarh seems better to them. With the presence of  Rajiv Gandhi Chandigarh Technology park in Zirakpur, the number of companies that have come into being has increased manifold. Thousands of people work here, thus making Zirkapur a preffered location for buying a flat here.

In the nutshell, we can say that the ball is city's court as far as real estate is concerned. To buy properties in Chandigarh, surf a few real estate sites and search for the type of property you have been looking for. At Makaan.com, India's fastest growing property website, you can find residential and commercial complexes available for buying and hiring for rent.