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Looking to Buy a Place to Live in or around Mohali

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Looking to Buy a Place to Live in or around Mohali

Last updated: January 1 2016
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  • Looking to Buy a Place to Live in or around Mohali

    Hello all
    This is my first post in forum.I am totally new to real estate scenario. I will be transferred to Mohali in near future (say next year). I would like to buy a2bhk as an end user in about 3000000. I ll be going for home loan of about 75%. I don't mind residing in rental accommodation for 2-3 years so please guide about some area which may not be developed now but will be well populated in 2-3 years.project with good scope. I would be highly thankful If you can also guide me about buying a plot in some upcoming area and then selling it off in about 4 years for good appreciation value. Thanx alot in advance.
  • #2

    #2

    Re : Looking to Buy a Place to Live in or around Mohali

    Hi,

    Its not easy to get 2BHK for around 30 lacs at Mohali, even new sectors/Greater Mohali area has high rates.

    Plots rates in new sectors (which till take 4-5 yrs for develop) is also more than 25k/sqyd.

    Rates in Tricity are very high. Even collector rates for new sectors are changed to 24k/sqyd min i think by GMADA.

    GMADA is planning to launch some flats in affordable housing scheme this year probably,

    which could be around 30 lacs for 2 BHK (just hoping).

    Some nearby areas might be in this range like Zirakpur, Kharar, Derabassi etc.
    Last edited December 30 2015, 08:09 AM. Reason: Text formatting.

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    • #3

      #3

      Re : Looking to Buy a Place to Live in or around Mohali

      Originally posted by vivek5 View Post
      Hi,

      Its not easy to get 2BHK for around 30 lacs at Mohali, even new sectors/Greater Mohali area has high rates.
      Plots rates in new sectors (which till take 4-5 yrs for develop) is also more than 25k/sqyd.
      Rates in Tricity are very high. Even collector rates for new sectors are changed to 24k/sqyd min i think by GMADA.

      GMADA is planning to launch some flats in affordable housing scheme this year probably,
      which could be around 30 lacs for 2 BHK (just hoping).

      Some nearby areas might be in this range like Zirakpur, Kharar, Derabassi etc.
      Hi vivek, how is ATS project in derabassi for investment? can it yield decent returns in 3 years time?

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      • #4

        #4

        Re : Looking to Buy a Place to Live in or around Mohali

        Originally posted by sumit1984 View Post
        Hi vivek, how is ATS project in derabassi for investment? can it yield decent returns in 3 years time?
        Hi,

        I heard its a good project, but I don't know much about derabassi and its real estate market. Although Master plan of derabassi also looks good but I mainly don't prefer derabassi, Zirakpur etc. I have some knowledge about Mohali, as i am living here and also invested in different projects and keep eye on what is going on here in real estate and Mullanpur/New Chandigarh.

        I think Greater Mohali has better advantages due to part of Tricity and better Master Plan, near to Chandigarh or developed as extension to Chandigarh master plan earlier etc and it will be better in near future also except Administration as Chandigarh is under U.T and Mohali under Punjab Govt. and everyone know how Punjab Govt runs.

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        • #5

          #5

          Re : Looking to Buy a Place to Live in or around Mohali

          There are many projects for 2 bhk under 30 lacs but mostly closer to kharar. Some of these are
          1. Sunny Urban floors sec 125
          2. SBP homes sec 126
          3. SBP north valley sec 127
          4. Gilco valley

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          • #6

            #6

            Re : Looking to Buy a Place to Live in or around Mohali

            Originally posted by pyrosk View Post
            There are many projects for 2 bhk under 30 lacs but mostly closer to kharar. Some of these are
            1. Sunny Urban floors sec 125
            2. SBP homes sec 126
            3. SBP north valley sec 127
            4. Gilco valley

            Hey, how is the place you are talking about? Have you been there yourself or booked a flat there? Are these high rises or regular projects? As vivek5 told that it might not be possible in such small a budget, I guess Kharar must be somewhere remote. Can you elaborate?
            Thanks!

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            • #7

              #7

              Re : Looking to Buy a Place to Live in or around Mohali

              Originally posted by vivek5 View Post
              Hi,

              I heard its a good project, but I don't know much about derabassi and its real estate market. Although Master plan of derabassi also looks good but I mainly don't prefer derabassi, Zirakpur etc. I have some knowledge about Mohali, as i am living here and also invested in different projects and keep eye on what is going on here in real estate and Mullanpur/New Chandigarh.

              I think Greater Mohali has better advantages due to part of Tricity and better Master Plan, near to Chandigarh or developed as extension to Chandigarh master plan earlier etc and it will be better in near future also except Administration as Chandigarh is under U.T and Mohali under Punjab Govt. and everyone know how Punjab Govt runs.

              Hey, what do you think about the prospects of New Chandigarh? With plans in pipeline for a new city of sorts, will it be a haven for investments. What can be the price appreciation like and in how long a time frame. Please share.

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              • #8

                #8

                Re : Looking to Buy a Place to Live in or around Mohali

                Hi,

                New Chandigarh is a good for investment for long term atleast 6-10 years min.
                Main advantage of New Chandigarh is Medi City, Education City, new Cricket Stadium etc.

                DLF, Omaxe, GMADA and some local developers are there. DLF and Omaxe rates are very high already for a land which will take 5-6 years to develop.
                They already develop some of their projects but its not possible to live there for next few years.

                GMADA Eco city 1 (its best based on location) and Eco city 2 are good but still these places will take year to develop properly.

                My only concern for New Chandigarh is road connectivity from Chandigarh, Mohali etc.
                There will be only 2 roads and when this city will be fully develop in 10-15 years than there will be huge traffic issue, Like Chandigarh to Panchkula road (there is only 1 road and 1-2 from industrial area and via Zirakpur).

                But in case of Mohali to Chandigarh there are already 9-10 roads and still there is some traffic in peak hours form few roads.

                Regarding Price appreciation, its already high as compare to new Mohali sectors.
                So i don't there will be any appreciation in next 2-3 years (Thanks to fake Punjab Govt and local dealers hike news).
                But in long term (approx 10 years as we know in India it took years to execute plans), when Edu City and Medi city became reality
                then there will be huge appreciation.

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                • #9

                  #9

                  Re : Looking to Buy a Place to Live in or around Mohali

                  Hi,

                  I am planing to buy a plot in Aero City o IT City. I am very much confused now. Which one is better option. I am going to invest all my savings. 111 SQYD plot in Aero city is approximately from 34 Lakh to 40 Lakh. IT City Land pooling 100SQYD Plot is available around 22 Lakh. Which one is best ? I can wait for 2-3 years. is buying Land pooling plot is safe ? Please guide me.

                  Thanks

                  Comment

                  • #10

                    #10

                    Re : Looking to Buy a Place to Live in or around Mohali

                    Originally posted by brai17 View Post
                    Hi,

                    I am planing to buy a plot in Aero City o IT City. I am very much confused now. Which one is better option. I am going to invest all my savings. 111 SQYD plot in Aero city is approximately from 34 Lakh to 40 Lakh. IT City Land pooling 100SQYD Plot is available around 22 Lakh. Which one is best ? I can wait for 2-3 years. is buying Land pooling plot is safe ? Please guide me.

                    Thanks
                    Few wks back 125 sq yard aero city plot price was 33 lakh.. Who told u 37 Lakh to 50 Lakh?

                    I heard price in tricity down 20% due to elections.
                    Last edited January 1 2016, 07:46 AM. Reason: Text formatting.

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