Indian real estate starts to move

Chandigarh is among the fastest growing cities in India. With a year-on-year growth rate of 7.91 per cent since year 2000, the city has been positioned at number four among the fastest growing cities in India according to a  recent report by the International Institute for Environment and Development. Now that the local economy of Chandigarh is flourishing at a sustainable rate, the property market is beginning to follow. Dozens of property deals are closed every week in the city.

It is mostly  speculators taking advantage of the boom in Chandigarh properties.  Chandigarh real estate is largely an investor driven market, and the segment is far more active than the end-user segment. Decent connectivity, low operational costs, and sufficient availability of land are some of the factors that make Chandigarh Properties an attractive investment instrument.

Lately most of the real estate developments and investments in Chandigarh are taking place in suburban areas like Panchkula, Mohali, Zirakpur, and Dera Bassi. The most prestigious Indian real estate developers including Ansals, DLF, and Unitech are unrolling project plans for Chandigarh real. “Demand for luxury housing in Chandigarh is strikingly high at least for the past couple of years. Demand for houses in townships equipped with facilities such as a swimming pool, gymnasium, club and convention centre,” said Abhinav Pal Singh, a Chandigarh real estate agent.