The Chandigarh real estate market is booming. One of the most prominent
factors contributing to the real estate growth is the NRI investments
pouring in the city. There are a large number of well-heeled Punjabi
NRIs who are pumping huge funds into Chandigarh property market. Considering
this, all the major real estate builders are largely launching premium
residential projects in the city.
The property prices in the city are also not as high as in the metros,
yet the city offers an equivalent amount of rental returns, in case
the buyer wishes to rent out the property. With property market shaking
in almost all the parts of the country Chandigarh
still offers opportunities to investors and end-users by way of varied
residential and commercial realty projects. Also, government of Chandigarh
is bringing down the stamp duty charges in the city with a view to encourage
more investments and property transactions in the real estate segment.
The move will also help in preventing cover up of market value of the
property, making investment in the city more lucrative for NRIs.
In recent times, there have been many real estate developments and
investments in Chandigarh that took place on in the suburban areas like
Panchkula, Mohali, Zirakpur, and Dera Bassi. The biggest and the most
prominent real estate developers of India like Ansals, DLF, and Unitech
etc have their project plans for Chandigarh real estate. Chandigarh
has therefore become a favourite investment destination for the Non-Resident
Indian (NRI) buyers. Some of the projects targeting NRIs are Parsvnath's
Prideasia, Omaxe Greens and Royal Residency.