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MOHALI With real estate residence
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| MOHALI With real estate residence |
| 03.24.09 (4:20 am) [edit] |
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Residential rates at Chandigarh have gone through the roof, and there is little scope for appreciation as of now. Moreover, as Chandigah is a planned city conceived on certain density specifications, there are limitations on development. It is, therefore, not dynamic in real estate terms, which means it will not change much with time.
Chandigarh could not partake in the IT boom for these reasons. However, adjoining Mohali presents a completely different picture. The area called Greater Mohali, which encompasses the fast developing Landra-Mohali Road area, is a very promising residential zone Pan India developers such as
Unitech, Emaar-MGF, Ansals and DLF have snapped up land here to develop mega, multi-sector residential hubs. These will be highly organized cluster projects, and all the right drivers are in place.
Drivers
1. International airport coming up.
2. Indian Business School coming up.
3. Multi-terminal bus stand soon to be commissioned.
4. 120 acre township with IT SEZ coming up
The investment opportunity here is in land, which currently sells at between Rs. 12000-14000 per sq yd. After 3-4 years, the cost of land in these areas will surpass those in central Mohali, which currently stand at Rs. 30000-35000 per sq yd.
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