NRI Real Estate and Property Investment in India
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IT Fuels Real Estate Chandigarh
Monday, September 24, 2007

The real estate India market and the IT industry are intertwined in a close knit relationship - with the entry of big IT players in any city, property prices go zooming. Pune, Nagpur, Chandigarh, Mohali, Jaipur, Kolkata, Indore….each has a success story to narrate.

From being a town for retired bureaucrats and professionals, Chandigarh’s fortunes turned when Dell, Quark and other IT majors established their offices a few years ago. Property prices in Chandigarh-Mohali today are twice their rates that prevailed three years ago.

IT has pushed up demand for residential and commercial property in Chandigarh, and rising prosperity has augmented the demand for retail spaces as well.

The State government has been instrumental in fuelling the real estate market with announcements on an IT policy. The price race started with such proclamations, affecting rental as well as capital values in Chandigarh property and its satellite towns.

Punjab’s real estate industry has an even spread today, thanks to the Government’s real estate and IT policies. Real estate Chandigarh has brought about positive real estate trends in satellite towns of Mohali, Panchkula, Kharar, Derabassi and Ropar.

The state government’s initiatives on infrastructure have also driven property prices up. Ambala’s real estate market rose to new levels after the Haryana government called for a Special Economic Zone in the town – Westend, Omaxe, Ansals, MGF and TDI have already established their presence over the last year, ever since the announcement was made.

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