NRI Real Estate and Property Investment in India
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NRIs eyeing Mohali
Monday, September 29, 2008

Mohali will soon be able to boast of world class infrastructure since it will soon host the IPL matches. NRIs are therefore eager to buy property here. The town's proximity to Chandigarh is a booster to its real estate sector. People, who want to elude from the hustle - bustle of Chandigarh find a refuge in Mohali, which offers equally good infrastructure at affordable prices. Ashish from Acres and Acres property firm feels that Mohali and Chandigarh properties are already sought after. He says that all Punjabi NRI s and others who work in Chandigarh and neighbouring areas like Bhatinda, Ludhiana and Amritsar want to settle down in Chandigarh.

Since property is becoming scarce in Chandigarh and this is driving people to neighbouring areas like Mohali. The current plot values ranges between Rs 27, 000 and Rs 32, 000 per / sq yards. Ashish predicts that this value will only escalate further. "Land prices will only go up. IPL has added a tinge of glamour to Mohali. Already people wanted to buy land here and now lot of developers and big groups will further pick up land banks here. Another real estate agent, Sameer Mehan says, "Mohali is what Chandigarh was ten years ago. The local infrastructure and real - estate are undergoing a make - over there. And IPL is just an icing on the cake. It will do wonders for the realty segment there". The coming years will definitely increase the NRI investment in the town.

 

 

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