Have you ever wondered why more and more people are now showing a great interest in investing for real estate properties in Chandigarh? The answer to this simple question lies elsewhere. One of the primary reasons these investors, both domestic and international, do not think twice before they pump in additional money to this city of Punjab. Experts of this industry vehemently opine that it is the tactical position that is the key motivating factor for them. It may be noted, this city is the capital for two Indian states.
There are scores of vital offices and trendy markets. Most of these markets are teeming with economic activities round the year. Presence of these features has gone a long way to bring about lustre to the earlier prevalent real estate market. As a rule, any conventional residential real estate property is in fact a 2-3 storey construction of lofty multi-apartment. Such is the present situation that the city finds it hard to show any available space for fresh construction.
It recent years it has been found that a majority of landlords are resorting to modify their existing kothis. This modification is done of 2BHK, sole apartments and 3 BHK residential plots. Though there are ample provisions for PG accommodation, a large number of foreign travellers choose to have individual apartments. This has seen a new category of investors who buy properties with the sole intention of letting it out to international audience. When it comes to the rent it fetches them, it is more the interest they would get keeping the money in a bank.
The city has seen a rapid transformation in its surroundings in recent years. There are a large number of up-scale markets, malls and shopping malls. It is presence of such facilities that are considered to be a clear indication of a thriving economy. There are scores of commercial and residential projects that are in the pipeline. As a result of these measures, the real estate market in the city is witnessing a frenzy activity.
According to a recently concluded survey conducted by the Urban Housing Development Authority, the demand for homes is going to even shoot up further. If insiders of the industry are to be believed, this is the perfect time to buy properties in the city. The city has a nice coordination of development authorities and private developers. That is the reason you will find numerous investors do not hesitate when it comes to investing in real estate properties. The simple fact that the city has all leading brands in every sector; it gives customer to place reliance on its growth. Talking about its industrialization initiatives, the government has announced a slew of measures. One such measure includes declaring certain areas as SEZ. This is welcome news for those who intend to buy properties in the city with an intention to make business gains.
|Price Range(Rs./Sq.Ft.)||Average Price(Rs./Sq.Ft.)||Price Range(Rs./Sq.Ft.)||Average Price(Rs./Sq.Ft.)|
|Zirakpur||2,414-2,807||2,611||8 – 9||9|