Various National Real Estate Developers beeline for Chandigarh

Chandigarh is soon to emerge as one of the most sought after tier-III cities in the next 5 years in terms of commercial, industrial and residential sectors. With major IT companies foraying into the region along with national as well as international developers to meet the expected demand of quality residential and commercial space.

There is no denying the fact that Chandigarh tri city along with Panchkula and Mohali is getting the attention from private enterprises as well as state and central government in an attempt to develop the region with quality infrastructure and resources.

Technology and IT parks are scheduled to be launched in Panchkula and Mohali with already the existing one in Chandigarh as CTP (Chandigarh Technology Park). Keeping pace with the industrial and commercial development residential projects are too launched in close vicinity. Not only national but also international developers have launched their projects around Chandigarh in the suburban areas like Kharar, Dera Bassi, Zirakpur, Baddi and Pinjore. Several residential projects in Mohali, Mani Majra and Panchkula too are under construction with Mohali to be extended as Greater Mohali developing several new sectors.

Projects like Parsvnath Greens in Dera Bassi, Parsvnath Royale in Panchkula, Uppal's Marble Arch in Mani Majra, Ansals Golf Links in Mohali, Omaxe Greens in Dera Bassi, Emaar MGF in Mohali are a few projects to name a few. These projects are coming in the suburban areas of Chandigarh due to land exhaustion in the city and a very limited options with exorbitant prices.

Rates in these projects have increased from 50% to 300% since they were launched 2-3 years back. Since there has been a slump in the real estate market since last one year but the rates in these projects have not come down or depreciated. Instead they have been stable and even appreciated in some projects.

With the festive season around, these projects are also offering various discounts and attractive schemes like BPTP Parklands offering no EMI for 24 months on the loan taken by the buyer. There are a number of options for a buyer to choose from to avail the benefits.