Indian Real Estate - case study of Chandigarh
Mumbai and Bangalore used to be the most sorted destination among Indian cities, another city that is worthy of recognition is Chandigarh and its surrounding areas. This is as a result of the heavy investments of Indian real estate giants like DLF, PACL, Ansal, Janta, Unitech, Omex, Eldeco and numerous others and they injecting fresh capital into the area because that are planning to construct quality residential complexes to the tune of Rs. 2,200-crore.
Erhvervs salg market in the area, driven by IT growth and one noticeable fact is that there is shortage of real estate which is currently the hottest in the market, and it is expected to increase the availability of residential and commercial property. All this aimed at bringing real estate price down as colonisers and others pour in. Already, many of the erhvervsejendomme til leje projects have gained the Punjab Government's clearance while others are slated to get it soon.
The growing demand for high-quality entertainment and leisure facilities has prompted several builders in Zirakpur, Mohali and Mullanpur Garibdas to plan multiplexes in the area, and the government has reserved 1,431-acres of Mohali land for commercial use. Mohali, located on the Chandigarh-Samrala-Ludhiana road has most of the proposed projects within its grid framework, and a railway station on the Kambala railway line is scheduled to come up in the near future.
Another is within Chandigarh that is about commanding the attention of real estate developer Zirakpur-Patiala road. This is an area that is located strategically within Chandigarh, Ludhiana, Ropar, Patiala, Ambala, Ropar and Simla. Fast emerging as an important tourist centre and the electronic city of Punjab, with a number of MNCs setting base here, it is important that residential requirements of people be met. But the high prices and low availability of real estate in the tri-city and peripheral areas made it difficult to buy erhvervsmægler in the area, but the planned government project that will make available about of 10,000 lejemål units is likely to bring about a drastic reduction in the price of accommodation to suit the pocket of buyers, both plots and flats are on offer, and already, 29,000-acres of land in Sector 107, 30,000-acres for group housing, and 10,200-acres for leje butik plots in the Mohali sectoral grid have been ear-marked for the same. Apart, from housing projects with an investment of Rs. 100-crore, there are smaller ones of less than 10-acres that have been cleared by the town planners, and could well be a better option.
Finally, the government too has set aside Rs. 32.24-crore for augmenting city infrastructure, widening and strengthening roads, besides setting up canal water and sewerage treatment facilities.