subject: A Glance On Real Estate Market In Chandigarh [print this page] Chandigarh real estate has already developed a qualified market for various business and housing properties. Chandigarh a part of, Chandigarh, Panchkula and Mohali tricity apart from being a Union Territory is also a capital of two states namely, Punjab and Haryana. A well planned city with wider roads, almost every facility at a distance of a few yards, a tourist spot with a stunning scenic beauty, together contributes in making Chandigarh a greatly chosen city by so many people. A home to NRIs and class- 1 officers of various departments and diplomats, there are just so many reasons which attract many people from all over the globe.
A well planned infrastructure, clean and healthy environment are enough for any one to get attracted towards the city. If we talk about the growth of real estate market in the city, it is just fantastic. It is not so easy to invest in property in Chandigarh, its prices touching the sky and far beyond the reach of a common man. Even the aristocrats these days prefer to invest in Chandigarh for buying a piece of land. Whereas the middle class people have started looking for options available outside the city, investing in the city since demands much more money which they feel is not in their budget.
Chandigarh real estate is flourishing so as to meet the needs of the growing population. It is worth mentioning, Chandigarh was planned to be a home to 1lakh people, whereas the situation is much different today. Already more than 10lakh citizens are residing in it. The situation has reached to such an extent that keeping in view the growing price and population; the owners of kothis have started converting these into flats. Many apartments in city are provided at lower interest rates and with an EMI option. This gives the would-be buyers an option to buy a land with flexible payment options.
Price of flat is mainly governed by various parameters connected to it, like community halls, the accommodation, swimming pools, gym house and other related facilities provided to the residents. Not just residential, but the commercial land is also in full swing due to appearance of more and more multinational companies and emergence of public sector in the city. The growing real estate market has provided a platform to both buyers as well as the property dealers to grow. The growing prices of land and property have also lead to increment in rentals which has increased drastically in the last few years.
The most growing commercial sector is IT sector and therefore it is expected that prices of commercial land will continue to hike, if more multinational companies will set up their centers here in the city. An advantage to investors, which prompts them to buy property in Chandigarh, is its lesser price as compared to metros, along with an amazing atmosphere. Chandigarh property prices are still lower than the metros and buying an average 3 BHK house in Chandigarh costs somewhere around Rs 13,000 17,000 per month.
With involvement of government to encourage more and more investors, to invest in real estate here, by dropping the stamp duty charges, growing number of people are considering to invest in this city. It is really a high time for investors, as investing in property in Chandigarh will offer all facilities of metropolitan but at lesser price. Chandigarh real estate has already won so many hearts and is expected to continue the same in the years to come.
