By Vipin Agnihotri
The Indian IT syndrome seems to have been making a direct impact on the realty sector of the country. With plenty of big names evincing interest in setting up their IT units in the region, there is no surprise that the rates of property have spiralled.
If experts are to be believed, development of IT parks in Chandigarh, Mohali and now in Panchkula has surely added thrust to the real estate business. For example, if we take the case of Mohali, IT bigwigs such as Dell and Quark are operational here; the property prices have almost doubled in past two years.
In my opinion, the price war began the moment the governments of respective states gave clear cut idea about their vision to turn tri-city into a IT hub. And since then the property rates have been seeing major appreciation. There are some experts who believe that IT factor has not just affected the land rates but has also made big impact on the rental accommodation.
Another significant factor that has played a prominent part in IT extension in this region was initiatives taken by the government. It is worth mentioning in this regard that the government of Punjab and Haryana provided number of benefits and concessions to the companies that have set up their unit in the tri-city.
It has come into the notice of The India Street that big fishes from real estate business targeted the burgeoning tri-city market, as they knew the prices were going to increase sooner or later. According to sources, there was overall increase in property prices across this belt. As a matter of fact, even areas like Kharar and Ropar were not spared.
Point to be noted here is that IT companies basically look for location, good environment, excellent infrastructure, power situation, law and order and logistics. And tri-city serves all and that too in bigger quantity. Apart from IT, the coming of malls, multiplexes in the region are another thrust to the property.
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1 comments:
Mohali is a joke. Go check out the "big wig" Quark - reduce from 2000 ppl to currently 200 ppl. And Dell is just a call centre. So you "experts" actualy think a few school grads are gonna mop up all the real estate. Get REAL.
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