Chandigarh’s growing infrastructure has cemented the way to develop the real estate industry in neighboring areas like Mohali, Panchkula, DeraBassi and Zirakpur.
Properties near Panchkula add more value to several real estate markets since investors are eyeing on setting up industries, software companies and other commercial projects at Panchkula.
It has become the biggest asset for Chandigarh. It is a novel business location for retailers and for renting corporate houses. Rents are pretty high and you can also find decent residence options here.
Residential Plots and Current Pricing Trends
People are wondering about the price hike in residential plots in Panchkula. Purchasing a decent plot in Panchkula in a nice sector has seriously gone out of reach of the common man now. Just to give you an idea about the escalation in the rates in Panchkula property markets, a small flat in a 5-10 storied apartment costs almost 60-65 lakhs, and a 3 BHK costs 75+ lakhs easily.
Plots or apartments in central sectors are very rare to find. Let us take a look at the prices of constructed houses and plots in Panchkula. As per the recent advertisements, 250 sq yards house is available for almost three crores in Panchkula 10th Sector.
A corner 500 sq yards plot or old house sells in the range of 5 crores in 15th sector. You can see a steep rise in prices when compared to the price a couple of year ago. There’s has been almost a 100 to 200 percent increase in the price. This shouldn’t deter you from making a foray into the market. Rising prices also bring to you the opportunity to invest and reap benefits.
Undoubtedly, the real estate prices will rise continuously owing to high demands and an increase in the number of residents. People who bought properties in Panchkula before 2001 are enjoying huge benefits today. According to the growth graph of Panchkula real estate markets, prices have risen 4 times since then.
DLF Valley is the New Hotspot
DLF has launched new residential plots in Panchkula. These apartments are located at sector 3, with sizes varying from 1450 square feet to 2650 square feet. The prices start at around Rs. 63 lakhs, and cross the Rs. 85 lakh mark for the spacious 3BHK units; the project is located pretty close to NH 22. These apartments are fully equipped with high end amenities and boast of top notch specifications. DLF doesn’t need an introduction in any of the realty markets, and DLF Valley is a fantastic investment opportunities for investors.
The rental value of 2 BHK and 3 BHK flats are in the range of 15000 to 18000 per month.
Upcoming Projects in Panchkula
Real estate market in Panchkula is gaining prospective property investments in the northern part of India. Pinjore, H.M.T., Panchkula Urban Estate and Surajpur are the industrial centers at the moment.
District administration is planning to develop Pinjore complex and Morni hills as the main tourist destinations. The step is expected to further boost the values of properties in those locations and in their vicinity. The upcoming IT Park has had the most important influence in the Panchkula property prices.
Some well-known real estate developers have announced a series of new property projects, including DLF Valley, about which we have discussed above.
Popular Realtors
Affinity Consultant is a well-known developer operating from past 10 years. A.K. Jain has dedicated professionals with 10 years of experience in the real estate industry, and they have shown their expertise in tons of big projects throughout India.
Affinity Solutions is a leading service provider with other leading brands such as Parsvnath, Omaxe, Ansal, Emaar MGF, Unitech, Amrapali, Indiabulls and Lodha.
Commercial Properties Rates
Speaking with respect to commercial properties, you need to decide the right place in the current Panchkula property market. An industrial plot or land in and around Panchkula measuring 2500 square feet is currently selling in the range of Rs. 50-60 lakhs. A well-built 2000-2500 sq. ft. commercial showroom in one of the best sectors would certainly cost you in excess of INR 4, 00, 00,000.
The bottom-line remains that you need to read the Panchkula property rates really well, and try identifying the areas where the prices haven’t gone too high, but are on the verge of surging. Don’t invest in saturated areas, and waste your money. There’s a plenty left to explore.