Punjab Property

Punjab property prices have seen a dramatic jump in the last couple of years. This is due to the fact that the projects under development have got PUDA approval, and the encouragement from the government for developing townships and colonies has attracted a lot of reputed builders.

Cities like Ludhiana, Amritsar, Patiala, and Jalandhar have attracted vast investment in the recent times. So, it is definitely the right time to invest funds in commercial, industrial and all forms of residential properties in Punjab real estate market.

Purchasing government developed urban estates is a pretty good idea and you can expect to see tremendous increase in price in past two years in the PUDA approved areas.

Therefore, investing money in these Govt. approved colonies is the safest bet, and can guarantee high ROI over next 4-5 years.

Present Pricing Trends

In recent times, an office-cum-shop-cum-flat in Mohali with a price of INR 2.5 crores was bid, and it went for a gigantic INR 4 crores. This figure is certainly indicative of the real estate prices sky-rocketing in this city. And, this is a positive proof of the market over-heating ahead of sensible levels.

In the recent auction held at PUDA Bhawan, PUDA has encashed Rs. 40 crores from the auction with 45 commercial sites in a wide range of locations around Mohali.

According to the recent statistics, reports, demand levels and availability, residential properties from 4th sector to 10th sector have reached astounding points of INR 5,000 to INR 7,750 per sq. ft. A 3 BHK flat in a good sector will cost you more than one crore rupees pretty easily, and you won’t find even a 2BHK flat for under the Rs. 50 lakh mark.

Following the same trends, Zirakpur residential plots are trading in between INR 2,200 and INR 2,700 per square feet. Similarly, home rentals in the city have also picked up rapidly due to the growing demands from buyers. However, the rent figures in Chandigarh’s luxurious apartments have remained quite stable.

Real Estate in Ludhiana

Unlike other luxury cities in Punjab, prices of apartments and flats haven’t increased much in Ludhiana over the last two years. Monthly rent in areas like Gurdev Nagar, Vikas Nagar, Haibowal and Dugri are stable and fall somewhere between INR 4,000 and INR 8,000 with infinitesimal hikes.

Speaking with respect to plots, the prices in the prime locations of Gurdev Nagar, Saracha Nagar, and Civil Lines are INR 2,200- INR 3,200 per square feet. Newly-constructed apartments and multi-storey buildings are offered in between INR 1,400 and INR 2,000 per square feet, which are once again great places to invest in the Punjab real estate markets.

Property Prices in Jalandhar

Residential property prices in Jalandhar have more than doubled in the past 36 months. According to industry experts, the capital prices in the city are in between INR 1,500 and INR 4,500 per square feet for apartments and residential houses. However, the prices in major places like Ludhiana Road as well as central parts are reasonable. According to the estimates, prices are expected to go up more with an increase of 150 percent in the next six to eight years.

On the whole, the entire Punjab real estate market is going to sustain positive trends, but if you invest in the sweet spots, you can reap as much as 200% returns over the next couple of years.

Commercial Property Rates in Punjab

Commercial property prices in Punjab real estate have increased from 20 to 40 percent when compared to the prices in the year 2011. A 40.0 Sq. Yards commercial shop in Gill road, in Ludhiana, costs you INR 15, 00,000, while a 33.0 Sq. Yards commercial shop in Dhandra road costs the same, which goes to show the increase in price in sq-ft.

There ought to be a fundamental demand for retail and office spaces because of unrelenting economic activity by software firms, establishing their existence in the planned city of India.

Axiom Estates offers absolutely brilliant real estate services for the customers living in and around Punjab who’re looking to rent or own a commercial or residential property in Punjab.

There’s no shortage of brokers and property consultants in Punjab. The other good thing is that you’ll find them to be a lot friendlier and more co-operative than those in Delhi and other metropolitan cities.