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.

Prominent Chandigarh Locations that Offer 2 BHK Property Below 20 Lakh

Chandigarh Property at Makaan.com

Chandigarh city comes as an affordable option to the buyers who do not want to settle down for expensive counterparts like Delhi , Mumbai, and Gurgaon. Build with meticulous planning, this city comes as a haven for those buyers that have been pissed up with overwhelming traffic congestions and exorbitamt rates of other cities. The blog lists some of the areas in Chandigarh that offer two apartments below 20 lakh.

1. Ambala Highway: Seekers of property in Chandigarh can see Ambala Highway over NH-21 and 22 as a budget area to buy a two-room flat. The Highway, stretched over 35 km, carries the traffic load commuting among Delhi, Punjab, Haryana, and Himachal. The four lanes have helped in allieviating traffc loads, and boosted trade-related activities in the nearby localities.

2. Mohali: The 'next Gurgaon', Mohali is one of the localities that have been ear-marked as high-growth localities in and around Chandigarh. It is  a major commercial and residential hub, and has become a center for corporate investments. Seekers of 2 BHK apartments can their hopes over Mohali as far as afford ability factor is concerned.

3. Kharar: Comprising of finely developed localities like Model Town and Sunny Enclave, Kharar stands as a budget option for seekers of property Chandgarh. Located at a convenient distance of about 10-15 km from Chandigarh city, the average per sq. ft. rate prevalent over Kharar in first quarter if 2014 stood at about Rs. 2800/-.

4. Dera Bassi: Another locality that speaks of budget rates is Dera Bassi. A part of Mohali district, this area is located at about 20 km from Chandigarh and has seen a number of housing projects in past.

To know more about price rates in Chandigarh, look through India property portal and know more about the trends prevalent over a given quarter of the year.

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

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.