subject: Mohali Property-booming Real Estate In The Thriving City Of Punjab [print this page] Mohali real estate has immense significance owning to strategic location of the city. Mohali shares its boundary with the states of Punjab in the North and Haryana to the South. The city is engulfed by Panchkula and Chandigarh. Close proximity to the state of Himachal Pradesh, home to major tourist destinations in the Northern part of India, has given a considerable boost to the Mohali realty sector.
Real estate industry in Mohali is flourishing. Despite the global recession and the slowdown of real sector, prices of Mohali property is on its pinnacle, and it is expected to remain steady in the coming years, without showing any indication of slowdown. The property prices in Mohali and its surrounding areas have increased briskly over the past few years. Nevertheless, the city has been witnessing a huge demand of housing and commercial properties. In the realty sector, residential properties account for a major constituent and it is swelling at a swift pace. Commercial properties include shopping malls, hotels, multiplexes, office spaces, industrial units, and much more. The growing interest of people to invest in Mohali properties indicates a promising future for this realty sector. The rising trend of nuclear families and improved income levels of the residents have contributed towards growing demand of housing properties. This trend have further resulted in soaring property prices in Mohali. With increased demand, prices of properties have touched new heights. Moreover, as several banks and financial institutions have started offering cheap housing loans for masses, it has made a lot easier for a buyer to make investments on realty. Low interest rates on home loans make it easy for the salaried people to take most benefit of their investment plans. Realty prices in Mohali is skyrocketing, and perhaps much higher than other metropolitans. Due to this reason, NRIs are stepping back and showing great interest to invest in their home-country.
The situation is exactly the opposite in other parts of Punjab. There is enough of vacant land and scope for building new townships. There is excess of resources, however, unplanned development has resulted to abundant supply. The government has minimized interest rates on housing properties to encourage people to invest on properties in these areas. With the governments encouragement and the RBIs move to let banks offer financial assistance to Real estate developers and builders, it has provided a respite to this industry. Most of the private banks and financers have slashed down interest rates on home loans to boost to realty sector.
This has proved to be extremely beneficial for this industry. The situation has improved considerably after some amendment in government policies and reduction in interest rates on housing properties. The city is fast developing to become the next metropolitan. There is hardly any property available at suggested price range, all over the Tricity. However, there is plethora of properties that can be found at affordable prices in the suburbs, such as Kharar, Zirakpur, and neighboring areas. Residential plots and housing constructions are available in the suburbs in the suggested price range.
Investors and buyers need to consult with a renowned property dealer to grab the best Mohali property at a suitable location. It is the right time for buyers to make an investment in Mohali as there is good chance of securing the best deal while investing on the right property.
