Real estate prices in Chandigarh increasing

By Dr Suvrokamal Dutta

The real estate prices in Chandigarh are rising very fast because not only transport and communication facilities in the city are top class but also there is no dearth of infrastructure. In general, Chandigarh is the capital of two states, namely, Punjab and Haryana.

In terms of structure, Chandigarh is divided into sectors or block of houses. Each sector has its separate shopping center and well-planned parking system. Chandigarh is quite famous for its lush green gardens, parks and well-constructed roads.

If experts are to be believed, there is every class of buyers in Chandigarh such as landlords, industrialist and NRIs. One has to spend around 60 lakhs to crores for getting a dream land in Chandigarh. In addition, they have to spend around 40-50 lakhs on construction and renovation to build their dream houses.

There is no doubt that Chandigarh is growing very fast in the IT field. For example, Chandigarh Technology Park is a boom for IT professionals in the city. Plenty of big and multinational companies such as Infosys and Wipro have set up their centres in IT Park.

According to sources, Quark is also planning to establish their separate IT city called ‘Quark city’ in Mohali. Not so long ago, lots of professionals had to shift to other locations in search of employment. But thanks to advancement in IT sector, Chandigarh has become a magnet for professionals. This not only provides high-level employment to lots of professionals but also play a prominent part in increasing the economy and quality of life in the city. In my opinion, this trend is likely to increase the value of property still more.

It has come into the notice of The India Street that increase in foreign investment has actually fuelled the rise in the real estate prices. The best part about Chandigarh is that it is well connected to Punjab, Haryana and even Himachal. Furthermore, adjoining areas of Chandigarh such as Mohali and Panchkula are developing very fast. More shopping complexes and multiplexes are constructed in various areas.

Trading is also one of the reasons of increasing land prices in Chandigarh. At this moment of time, there are around 600 factories, large, medium and small-scale units in the city.

All in all, one can safely say that a Chandigarh is a well-planned, well-organized and well-maintained city.

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