Chandigarh Real Estate - More Investments, Few Takers

Chandigarh Real Estate - More Investments, Few Takers

Chandigarh real estate is witnessing testing times. On one hand, there are more investments pouring in the segment and on the other side property buyers and sellers are not very enthusiastic about property transactions.

The overall, economic recession has caused stagnation in the country's real estate segment. Chandigarh's property segment, too, is witnessing a similar trend. Property brokers in Chandigarh say that real estate values have stagnated. Chandigarh Property prices for plots in suburban areas like Baltana and Kharar have stooped down to as much as Rs 100 - 200 per sq yard. This is almost 20% decline in prices when compared to corresponding quarter last year.

Property sellers in Chandigarh see this as a temporary phase and are holding on to their land assets. They hope that real estate prices will increase in next six months and this is when they will make profits. Property buyers, however, say that Chandigarh Property Prices are nominal still. They have few choices as there are not many sellers in the markets as of now.

Recent developments in Chandigarh's property segment are worth noticing. Delhi-based developer Parsvnath has bought 38% stake in Sabeer Bhatia's Nano City Project. Nano City is a commercial and residential project in Chandigarh and will be completed by 2010. Market sources say that Bhatia is already scouting IT clients to open offices in his Nano City. This will bring more employment, and thus many more property users and home seekers to Chandigarh.

For now, one will have to wait and watch. Property market is expected to be buoyant in some months. This may be a breather for investors who have put their money in properties at Chandigarh.

George Gonigal provides you the best and latest information on Chandigarh Property Prices, If you want to get India Real Estate News, he suggests you log on to Magicbricks.

Chandigarh real estate – Fast catching the eyes of the investors

Chandigarh real estate – Fast catching the eyes of the investors

Chandigarh is the most planned city and capital of two states viz. Punjab & Haryana. The commercial real estate is fast catching pace. One of the major commercial developments in the city is the construction of IT Park. All the big names in IT are setting up their business there. As a consequence some of the top builders are showing interest to invest in making the city a more beautiful place. With all these developments taking place in commercial and residential sector Chandigarh property prices are really getting high.

The standard of living and per-capita income is very high in Chandigarh. Majority of the population in the city comprises of people from the army background and because of the beauty of the city they want to spend their retired life there. The same pattern of glory and pride can be seen in Chandigarh property. Big bungalows, farmhouses are common there. The trend seems to be changing here slowly and steadily.

With the entry of foreign players like Emaar, MGF Developers and affordable home loan rates of interest prevailing in the market the investors are queuing up to invest in real estate in Chandigarh and also taking into consideration the major infrastructure development in and around the city, as this is indicative that the returns on investments will be high. Taking into consideration the fact that people in Chandigarh are very fashion conscious, many private builders and developers are making exquisitely designed townships and flats in the city and to add to it services of interior designers are being utilised to decorate and smarten them up.

Punjab Urban Development Authority, Chandigarh is taking projects in many sectors in Chandigarh and its peripheral areas. Apart from giving housing facility to all Chandigarh Housing Board are also working on the development of parks, city suburbs and slum rehabilitation projects. Property Dealers and Real Estate Agents in Chandigarh are of the opinion that other real estate developments like lush green parks, well maintained round abouts and roads covered with large canopies of trees are really creating people's interest to invest in the real estate in Chandigarh – probably the only smoke free city in India.

Real Estate Agents in Chandigarh