Chandigarh, often referred to as ‘The City Beautiful' has emerged as the cleanest city in India in a recent study conducted by Ministry of Urban Development. It belongs to two states of Punjab and Haryana but is known globally for its architecture and urban planning. Real estate in Chandigarh is witnessing major expansion owing to the ever increasing demand for property in India.

Chandigarh realty market is the hottest as it can boast of well planned infrastructure, strategic location and upcoming large scale developments. The architecture, infrastructure and environment of the city are commendable as they constitute excellent planning. Moreover, it being the twin political and cultural center of the two states, it has the magnanimity of a big city. This highly important city attracts a lot of attention from business leaders and is, thus, developing at a rapid pace. Real estate in Chandigarh is especially experiencing a boom with large number of industries and businesses setting up in the city. It is interesting to note that despite being an important commercial hub, it retains the essence and tranquility of a small city.

Popularly known as ‘Gateway to North India', it is an upcoming destination for IT and BPO companies. By welcoming investments with open arms, Chandigarh shows its openness to modernization and changing realty trends. Some of the latest developments in the city include technology parks, luxury homes, multi storied malls and commercial complexes. In addition to this, realty developments are in full swing even in the fringes of the city in areas like Mohali and Panchkula. The most attractive feature about Chandigarh real estate is that it offers quality lifestyle at affordable costs since land prices are much lower than in metro cities. Amazingly, people from all over the country especially nearby areas like Delhi, Himachal Pradesh, Punjab, Haryana, etc. flock the city for educational and professional purposes.

The leading builders of India are taking keen interest in developing Chandigarh property market. Some of them launching large scale residential and commercial projects include DLF, Ansal, Omaxe, Eldeco, Unitech, Uppals, Parsvnath and PACL among others. The demand for property in Chandigarh has been amplifying day by day and this is why realty rates are spiraling up considerably. The fall during recession has been recovered almost fully giving a new high to the real estate industry across India. Subsequently, the concept of organized retailing is also being accepted gradually by all- retailers, developers and buyers. As a result, retail property in Chandigarh has also been growing manifold with swanky malls, retail outlets, multiplexes, etc. coming up. Therefore, the realty industry is booming and major factors triggering this growth are immense support by government, initiative by developers and people's acceptance to new trends. For example, people are moving from preferring traditional Kothis to modern individual flats for housing, so on and so forth.

The following list of capital and rental values in Chandigarh throws light on the expanding property sector and its values in the city.

-Apartments in Chandigarh can be bought for `1,200 to `6,000 per square feet and rented for `3,500 to `15,000 per month.

-Similarly, builder floors are available from `2,000 to `8,500 per square feet while rented ones ask for `3,500 to `15,000 every month.

-The capital values for apartments in Chandigarh begin from `7,000 and goes as high as `70,000 per square yard.

The uniformly developed city of Chandigarh is readying for its transformation into an advanced one. Those interested in buying property in Chandigarh can take help from real estate dealers and brokers as they can offer best options for both buying and investing purposes.

Author SIG

Deepika Bansal writes on behalf of 99acres.com, which is an internet portal dedicated to meet every aspect of the consumers needs in the real estate industry. It is a forum where buyers, sellers and brokers can exchange information, quickly, effectively and inexpensively. At 99 acres, you can advertise a property, search for a property and browse through Chandigarh property and Properties.

Rate this Article:

Add your comment: