rakesh

Chandigarh leaves Gurgaon far behind in Realty prices

Believe it or not, property prices in the city, a town of salaried class people, are almost double than those in Gurgaon, the commercial and industrial hub of Haryana, which has a constant influx of industry.

It is interesting to note that while prices in the city have increased by more than double in the past few years, they have stabilised in Gurgaon. For example, in the last draw of lots for Sector 57 in Gurgaon, one of the sectors closet to Delhi, the prices hovered between Rs 12,000 to Rs 25,000 per square yard, depending upon the location of the plot. Now, these prices have stabilised between Rs 9,000 to Rs 11,000 in the sector. Another example is Sector 38 in Gurgaon, where the prices are as low as Rs 7,000 per sq yard.

This is what property consultant Pawan Saini of Saini Properties has to say: ``The prices in the city and Panchkula have been bolstered without the presence of the actual buyers. The actual buyer left the market when the prices started to climb so steeply. Now the property market is dominated by financiers and even they have started to look for other areas to invest. In fact, already Panchkula is showing signs of gradual stabilisation of prices."

A city resident, Brig K.S. Kahlon, is of the opinion, ``All these are cooked prices. The vested interests, like the property dealers, are manipulating the prices. A middle class man cannot be expected to pay a crore for a 10-marla plot. But that is what we are made to believe in the city.''

--Source from Gurgaonscoop.com

sranjan24

that sounds interesting. but if everyone is talking about the same prices, how would you kow whether we are looking at cooked prices or real prices?

gautam

It's really surprising to know that Chandigarh property prices are witnessing such a hike that is neither heard nor seen anywhere else in the country. They cannnot necessarily be the cooked prices as it is the case regarding Gurgaon real estate.

As such, several IT companies like Infosys, Wipro, and Dell are planning to spread their wings to Chandigarh. This is what perhaps serving as key driver thereby adding to its real estate.

Also, the allure of Chandigarh can attarct anyone. Few years back, it was a place to retire but it is now emerging as one of the most happening cities. Keeping the same in view, the investors are eyeing Chandigarh property and nurturing the prospects of yielding high returns in so pushing the prices.