24 Jun 2013

Property in Chandigarh - Sees a Lucrative Scenario in Chandigarh Real Estate

Before Buying a Home in Chandigarh

Property in Chandigarh
The first thing you should ask straight and direct is how much the house is worth. Ask the agent to give you enough comparable by including properties of similar or lower prices that may have been sold recently. Just knowing the price range of the unsold properties is not enough. Do not keep yourself in dark about the various options other than a property under consideration.

After Chandigarh, it is becoming exceedingly difficult to find freehold land in Mohali and Panchkula. Near by areas like Zirakpur, Baltana, Dhakoli, Dera Bassi and Mani Majra are much in demand now. The prices of land here are almost half of that in Delhi and thus people are flocking to these new and upcoming areas, despite poor infrastructure and lack of maintenance. Investors are laying huge bets on these areas. They are putting their money in upcoming projects and constructions and foresee good returns in the coming times. 

Chandigarh, the city that serves the capital of two states, Punjab and Haryana is known for its beauty, tranquility and organized inhabitants. Realty sector in Chandigarh is highly demanded in both commercial as well as in residential properties.

Also, the lucrative set-up of Chandigarh Properties has attracted reputable real estate developers from all over India. The accomplished investment atmosphere of Chandigarh has promoted large-scale investments in the city-especially from the Information Technology (IT) sector. Big IT names like Dell, IBM and Satyam has made considerable funds in the city and made Property in Chandigarh a highly enviable commodity.

Seeing this continuous advancement in the commercial properties in Chandigarh, it's the suitable time for investors to empower over a commercial property in the city. Constant growth of commercial sector in the city will automatically influence large number of migrants from different cities. This will increase the demand of residential property in Chandigarh as accommodation is the primary need of the person after shifting to the new place or city.

As per the real estate market situation in Chandigarh, in the last six months there has been a fall in the residential properties. Around 15%-20% rates for small properties have gone down whereas for the larger properties like 1 kanal it has been static in Chandigarh residential properties in last one year. Both the investors and the sellers are waiting for the slouch to settle down before going into any transaction.

Seeing the money-spinning growth in the realty sector, no wonder people will end up going to several property agents for buying and renting the property in Chandigarh. Thus for those who are blindly trusting the property agents, it is advised not to do so. Instead you can perhaps register on any of the online classified site and pick the best land in terms of price, locality and amenities etc straight from the reliable dealers. Buying property online will for sure lower the scope of buying a forged property and you will to get the wide variety of options to choose from as compared to property dealers. Plus, you can also refine your search on the basis of price and the sq ft area of the land.


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