07-03-07
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Pinjore the next best destination
The real estate market in Pinjore area of Panchkula district in Haryana is the next favorite destination of the big names of the real estate market. Almost all the notable real estate developers are zeroing in on the area for development of residential projects.
DLF and Reliance are keeping a close watch on this area. The deals though still in the negotiation stage are all set to shift the focus of real estate market in the district to this Pinjore-Kalka Complex.
DLF is said to be interested in the land near Bhagwanpur and Viratnagar area and Reliance is interested in the Surajpur area for investments.
Currently the Amravati Enclave is the only private developer in this area; it falls in Sector 2 of the Pinjore-Kalka Complex of Haryana Urban Development Authority.
According to the property consultants based in this area the land is priced at approximately Rs 1 crore to Rs 1.5 crore. Both the real estate developers are looking for more than 100 acres for investing, and some deals are expected to have already made in Bhagwanpur and Viratnagar areas.
The developers are looking forward to the four-laning of the NH-22 which will increase the connectivity with Chandigarh. The residential areas will draw professionals from Baddi area and IT professionals from the proposed IT Park in Panchkula.
The prices in this area are still relatively lower than that of neighboring areas. In the nearby Zirakpur are prices are as high as Rs 5 crores.
Due to the imposition of Haryana Urban Development and Regulation Act, and due to the New Punjab Capital Periphery Control Act, the local residents of the area are not allowed construction of houses outside Lal Dora, so we can wait for the other bigger names from the real estate market.
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