Property market is shaking all over India but the real estate market of Chandigarh is still offering a lot of opportunities to its buyers and investors by way of different residential and commercial realty projects. Besides that, the government of Chandigarh decided to bring down the stamp duty charges with a view to promote more investments and property transactions in the property segment.

The country's first planned city, Chandigarh is fast blooming in the property sector in India. The most significant factor in propelling Chandigarh real estate market is the NRI investment, which keeps pouring in the city. There are a large number of well off Punjabi NRIs who are putting in huge funds into Chandigarh property market.

Chandigarh has always been a favorite destination of Non-Resident Indian (NRI) buyers. Keeping this thing in mind, the real estate developers in Chandigarh have modified their projects accordingly.

Keeping this in mind, all the major real estate builders from all over India are coming up with a plethora of premium residential projects in the city. The near about areas of the city have also gained popularity among the investors as well as realtor segments. Besides the many commercial projects coming up in Chandigarh, the residential real estate of the city is also booming. As against the city’s ongoing industrial revival, the residential real estate market of the city is growing more swiftly.

Despite the fact that the city and the neighboring areas still lack infrastructure and other basic amenities, buyers from different parts of country are still investing in properties here. These buyers are making investments foreseeing the lucrative returns these properties will offer.

One of the biggest advantages of investing in Chandigarh’s real estate is low prices as compared with the metros; the city still offers an equivalent amount of rental returns, if the buyer is willing to rent out the property. Realty rates in Chandigarh are lower than the metro cities. Here, an average 2 BHK can be rented out for Rs 5,000-8,000 per month.

Commercial Realty Market of Chandigarh

Many IT companies think that Chandigarh is the place-to-be-in. In fact, a lot of IT companies have opened their offices in the city with a view to expand their horizons. These companies include big names like IBM, Dell, Cognizant, Mphasis and Satyam.

Investment in Chandigarh’s Realty Market

As the local economy of the city is growing at a persistent pace, one can easily envisage the state of property in Chandigarh. All the segments of real estate i.e. residential, retail, and commercial in Chandigarh are witnessing positive notions. Dozens of property deals are closed in the city every week.

Buyers’ point of view

Usually, it’s only the investors who take advantage of the boom in Chandigarh properties. So, one can say that Chandigarh real estate is mainly an investor driven market, and this segment is far more active than the end-user segment.

Factors contributing to its realty market

The city’s decent connectivity, low operational costs, and sufficient availability of land are, undoubtedly, some of the major contributing factors that make the properties in Chandigarh an attractive investment instrument.

Upcoming projects

The biggest and the most prominent real estate developers of India like Ansals, DLF, and Unitech etc have projects in pipeline which are to be developed in Chandigarh.

Sometime back, Delhi-based developer, Parsvnath bought 38% stake in Mr. Sabeer Bhatia''s Nano City Project. Nano City is a commercial and residential project in Chandigarh that is expected to be complete by 2010. According to market resources, Mr. Bhatia is already scouting IT clients to open offices in his Nano City. This development is aimed at bringing more employment in the city, and thus many more property users and home seekers to Chandigarh.

But right now, one should just wait and watch. It is anticipated that property market will rebound in some months. This may be a breather for those investors who have put their money in the real estate market of Chandigarh.

Chandigarh attracts NRI buyers:

Chandigarh has always been a hot favourite of Non-Resident Indian (NRI) buyers as a a huge number of the city residents immigrate to countries abroad like Canada, New Zealand and Australia. Keeping this thing in mind, the taste and purchasing power of this segment, the real estate developers in Chandigarh have molded their projects in accordingly.