|
Rising Real Estate Prices in Chandigarh India
Chandigarh (India) is Beautiful city of the world. The name
Chandigarh was derived from the famous temple called 'Chandi
Mandir'. 'Chandi' is the Goddess of Power and 'Mandir' means
temple. 'Garh' or fort beyond the temple, the beautiful city
'Chandigarh' name was derived.
Chandigarh is the capital of two states i.e
Punjab and Haryana. After independence, India had invited the
great architect, Le Corbusier to design the new capital of
Punjab, as the earlier capital Lahore had gone to the Pakistan
after partition. But, the city does not belong to any of the two
states. Now, it is a UT (Union Territory) which means city is
administered by the Government of India.
The structure of Chandigarh is divided into sectors or blocks
of houses. Each sector has its separate shopping center and well
planned parking system. The city is well known for its lush
green gardens, parks, well-constructed roads. There are no. of ,
picnic spots, places to visit and enjoy like Rock Garden, Rose
Garden, Sukhna Lake, Museums, Art Galleries and many more.
Chandigarh is the India's fastest growing city in the Northern
India. The transport and communication facilities in the city
are good and effective. The sectors are connected by means of
planned transport system and well-constructed roads.
As we all have a brief introduction of the city, Now a question
comes in our mind that if one city provides these facilities
then what would be its land or real estate prices?. Do you know,
these prices are now rising very fast. Why these prices
are rising?, What are the reasons behind these risings?,
How long will they rise?, What would be the real estate prices
in the coming years?. Following are the points that give answers
to all these questions:
1) Why real estate prices are not affordable by most of the
people? In Chandigarh, there is every class of buyers like big
landlords, industrialists, NRI's, traders, well settled doctors
and lawyers etc. who are ready to spent 60 lakhs to crores for
their dream lands. After purchasing these lands, they have to
spent additional amount of 40 - 50 lakhs on construction and
renovation to build their dream houses. When these people are
ready to buy real estate in any price, they are not bothering
the money, then what happens to the ordinary man?
2) Chandigarh is growing very fast in IT field. Chandigarh
Technology Park (CTP) is a boom for IT professionals in the
city. Many big and multi-national companies like Infosys, Wipro,
Convergys, EDC etc. are set up their centers in IT park. Quark
is also planning to establish their separate IT city called
'Quark city' in Mohali. Earlier, many professionals had to shift
to other places in search of high employment. But, due to
advancements in IT sector, the city has become the magnet for
professionals. This not only provides high level employment to
many professionals but also helps in increase the economy and
quality of life in the city. This trend is likely to increase
the value of property still more.
3) Increase in the foreign investment has actually fuelled the
rising in the real estate prices. Foreign companies in the
Chandigarh IT Park are one of its examples. Again, more advance
people, less will be the land and more will be the real estate
prices.
4) Chandigarh is connected to Punjab, Haryana and even
Himachal. The city is greatly influenced by the culture and
people of Punjab. Also, It is on the route to the hilly regions
of Himachal and towns of Punjab. In daily life, the city is
visited by many people. Chandigarh provide all facilities, which
can also be one of the reason for adopting more and more people.
As the effect, property values in the city are rising.
5) Adjoining areas of Chandigarh like Mohali, Panchkula,
Manimajra are developing very fast. They also provide every
facility like in the city. People are moving to these places as
these are well connected to the city with effective transport
facility. More Shopping malls and multiplexes are constructed in
various areas. People become broad-minded and more advanced.
Their status of living has changed a lot in the past years. They
do not prefer to settle in other places.
6) Don't forget the education department of the city. The city
has a vast facility of education and every kind of institute.
Punjab University and Chandigarh Engineering College are the
boom for the local students as well as students from nearby
areas. Students have wide opportunities to opt for any institute
and make their dreams come true. These students are getting more
at one place than what they required or expected.
7) There is no doubt in the fact that it is fastest growing
city. Whether engineer, accountant, lawyer, doctor or any
professional, they all are attracted by their respective fields
as city is providing them full fledge opportunity to show their
skills. This professionalism has changed the thinking of the
people. If a person is getting full opportunity to show his
talent and to explore him at one place, then why would he prefer
other places?
8) India's capital, Delhi has developed in every field. With
its fast life, Delhi is becoming more and more polluted and
crowded day by day. It has easy access to Chandigarh via. road
of only 5 hrs drive. People resides in the capital(Delhi),
prefer to shift and settle in the city(Chandigarh). More and
more people arrival in the city means less and less land is
available every year. In the answer, land prices are rising.
9) Chandigarh is well-planned, well-organized and
well-maintained city. As this city is full of gardens and
pollution free, People who resides here for few months or years
and due to some reasons like transfer etc., they have to left
the city and find it difficult to reside and settle somewhere
else. They not prefer to reside in other place as they feel
inferior quality of life as compared to that in UT.
10) Trading is also one of the reason of increasing the land
prices. Today, there are around 600 factories, large, medium and
small scale units in the city. The industries like electronic
goods, food products, plastic products, leather goods and many
more can be found in every scale. Obviously, People involved in
these types of businesses wants to explore their business. Due
to this, they prefer to settle here and in the answer land
prices are rising.
Many builders stepped in the real estate business, as an
investment they are buying old houses and now selling them at
huge profits. High land prices are getting out of reach of
the common man. How a man can buy these lands of high
prices, which has to work hard to meet three times meals?
If all these things are continuing in the way they are, then
you can well imagine what will be the property prices in the
coming years? Ordinary man could not even think of purchase the
property with unexpected high prices. As a result, Chandigarh
will become the city of rich people only.
About the Author
The Article is written by Megrisoft Team specialized in web
services and based in Chandigarh. See http://www.chandigarhcity.c
om for more information on Chandigarh
Real Estate.
____________________________
Copyright information.... This article is free for reproduction
but must be reproduced in its entirety, including live links &
this copyright statement must be included.
About the author:
Megrisoft is a leading IT services company and has
been providing Internet services for business since it was
established in 1998. Megrisoft(http://www.megrisoft.com) a
established player in the IT market for well over 6 years is a
leading provider of comprehensive web products, solutions and
internet services i.e web hosting, dedicated servers, virtual
private servers (VPS), bulk resellers hosting, domain names,
Megrisoft
More Articles
Real Estate Investors Turn Back on Thousands of Dollars! - Mark Walters
Those new to real estate investing often fail to take action
because they don't have much cash. The truth is that the very
best investors got their start when they had little or no money.
When you start at the bottom you have to work harder...
Real Estate - Chris Anderson
YEEHAW!!!!!! The south will rise again!! Can't you just imagine the Dukes of Hazard boys sitting on the hood of their car (the General Lee) grinning in front of a For Sale sign in their yard? Well, they should be smiling with the prices in the...
Real Estate Calculators - Oliver Webber
Let's recall now how real estate professionals used to calculate things! They used to write all the figures for calculation on a sheet of paper and then used standard calculators. The results were put back on the sheet and then realtors performed...
Source the Internet to get information on california real estate - Stephen Kreutzer
Right now, because everyone can use the world wide web, it's
child's play to find all you look for in regards to california
real estate. Can you recall the time as you had to consult a
dictionary when you wanted to find something relevant...
What is a Broker Price Opinion in the Real Estate Market? - Kim Polinsky
A Broker Price Opinion may be called many things, BPO,
valuation, "mini appraisal" even CMA has been known to title the
information in a broker price opinion. What is a Broker Price
Opinion? In real estate it is an OPINION of value, based...
The #1 Biggest Mistake Real Estate Note Holders Make. - Robert Pomerleau
The single most common mistake that a note holder makes when
creating a note is they check their buyer's Credit Report. It
seems so simple, but it is worth repeating "Most people fail to
check the credit report of their prospective buyers!!" Can...
Florida Real Estate Exploding For 15+ More Years? - Chris Anderson PhD
YEEHAW!!!!!! The south will rise again!! Can't you just imagine the Dukes of Hazard boys sitting on the hood of their car (the General Lee) grinning in front of a For Sale sign in their yard? Well, they should be smiling with the prices in the...
Property Casting - Podcasting for the Real Estate Industry - Ryan M Hoback http www WhatIWantPodcasting com
Propertycasting is the commercial application of podcasting for
the real estate industry. Propertycasting involves the
distribution and publishing of audio and video feeds, that offer
real estate information delivered over the Internet, for...
No More Blind Dates When Seeking Real Estate Agents - Martin Winer
http://www.rankyouragent.com is a new forum for ranking real estate professionals. When you type "real estate referral" into any search engine a slew of sites come up. In our experience here, at RankYourAgent.com, those sites featured pages of...
What To Look For In A Real Estate Agent - Tom Levine
Real Estate Agents play an essential, critical role in the process of buying and selling a home. You just simply cannot afford to work with an agent that does not exhibit top-scale professional values. We’re talking about your primary investment,...
Real Estate Investing -- Motivated Buyer? - Mike Burke
What's the first image that comes to mind when you hear the term
-- motivated seller?
You probably think of someone who is desperate to sell his
property, as quickly as possible, for well below the market
price - right?
Well, sometimes...
Real Estate Marketing -- How Strong is Your Offer? - Brandon Cornett
Many real estate agents are taught to market themselves in
watered-down fashion. They're taught to spend a lot of money
sending postcards to their farm area with a message no stronger
than "I sell homes ... can I help you sell yours?"
Then...
|
