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- Investment in Panchkula
Really...Panchkula is a satellite town of Chandigarh and is experiencing a tremendous boom in realty. I also want to invest there . Is there any body who can tell me latest scenario of real estate in Panchkula which make my investment a fruitful one for me ?CommentQuote0Flag
- No use at these high rates
Chandigarh has already been overrated and the rates are already hit the high long time back...Actually the prices recently have been falling.
Please look at the big picture before you invest any money anywhere. It makes sense to buy now at htese high rates only if you plan to live there, not for investment.CommentQuote0Flag
- This is nonsense
there is no boom
I have been lookig at buying plot in panchkul and if anything prices are sliding down not upCommentQuote0Flag
- Why not invest in new sectors like sector 27 & 28? The prices are low and sectors are developing fast. The expected appreciation in prices is nearly 35%.
Other option is sector 6 at Mansa Devi Complex. This sector is next to IT park, Chandigarh. The prices are comparable to other sectors in Panchkula. But this sector would share all the amenities being developed at IT park. The prices are going to rise in future and would be comparable to prices in Chandigarh.
Moreover, Parsavnath is developing huge property half a kilometer away where the prices are much higher.CommentQuote0Flag
- I had an update on the IT Park in Panchkula and now the construction has started in more than 3-4 projects. here is one link to the progress
- Rates are down in Panchkula by considerable margin, also endorsed by HT in their article in HT Estate dated 18 feb.CommentQuote0Flag
- Anyone thinking of buying a property in core Chandigarh / Panchkula should think twice. The rates defy any logic and if not a substantial drop, be prepared for long term stagnant prices. I would not buy property here for self use, leave alone investment.
If I have to buy, I would look at the outer periphery where prices are considerably less.CommentQuote0Flag
- "I would not buy property here for self use, leave alone investment."
I beg to differ - If someone can afford and need for self use the best place which are currently habitable is PKL sectors - Planned sectors with parks, established schools, markets at every cornerCommentQuote0Flag
- Originally Posted by ATLGUY"I would not buy property here for self use, leave alone investment."
I beg to differ - If someone can afford and need for self use the best place which are currently habitable is PKL sectors - Planned sectors with parks, established schools, markets at every corner
Agreed point to point with ATLGUY. Living in developed Panchkula/chandigarh sectors is like the best place in the northern India.CommentQuote0Flag
- While I partially agree that yes living in original sectors in either Chandigarh/Pkl are best. The prices just defy any reasonable logic.
I too agree that the prices are going nowhere, if someone has the money and the place is for personal yes maybe it is worth the risk. But if someone is thinking of making money I see no scope of appreciation.
Just compare a place that is quoted for ~3 crores you are lucky if you can
get even 30000 rent per month. This is pittance 1.2% return (simple math) while the same will get you 30 Lakhs in a bank deposit (10% return). Ofcourse this is just one data point, in general I don't any large scale growth happening in terms of jobs, IT or MNC's setting up shop
Yes there are speculators and market timers using things like metro, International airport, etc ...
Hopefully better sense will prevail!!CommentQuote0Flag
- Math (ROI )been like this from last 7 years since i started tracing the market and I've seen price appreciation of 10 Marla ( 250sq yard) from 70L to 3.5 Cr in PKL established sectors.CommentQuote0Flag
- Originally Posted by jatinderchdAgreed point to point with ATLGUY. Living in developed Panchkula/chandigarh sectors is like the best place in the northern India.
Hi Altguy, Jatinderchd,
In my opinion it is just too high a premium to pay for staying in the best place in north India.
You can get an independent 10 marla house on rent in some sectors of Panchkula for 15K per month. If you want to buy you would have to shell out 2.5 crores or more. I guess EMI would work out to 2.5 Lakh per month which is many many time the monthly rent.
If Emi would have been even 3-4 times monthly rent, I could have considered buying but at current ratio I would never. Only reason one would buy is if you are sure that property prices are going to keep on going up which I seriously doubt, atleast in the core sectors.
Anyhow that is my personal opinion.CommentQuote0Flag
- Originally Posted by ATLGUYMath (ROI )been like this from last 7 years since i started tracing the market and I've seen price appreciation of 10 Marla ( 250sq yard) from 70L to 3.5 Cr in PKL established sectors.
This is exactly the point, is this real?? By the way past performance is not a gauge of future performance. Do you really think that in 7 yrs from now we will see 3.5 Cr go to 15 Cr (that would be amazing!!)
My best guess is that 7 yrs from now we will still be talking about 3.5 Cr or about this range.CommentQuote0Flag
- Again - If someone can afford - Those are best place to live currently from every point of view .
Appreciation would be steady( read - Lower pace) not at the same pace as 2004 -2010 was boom everywhere but keep in mind one has to pay premium if you want to stay in core sectors. I still see 15 % appreciation for more few years to come...but again you don't keep a "price tag" on home you live in...
Investment - Totally different story - Go for Mullanpur, Aerocity, ecocity, ABCXXXX city ( yet to come) where habitation will take 5 -10 yrs for sure.CommentQuote0Flag
- Ofcourse this is my personal opinion, I just don't see any further scope of appreciation. Another comparison look at gold it went up significantly to a point that now despite being so much in demand the prices beyond ~30000 are just not sustainable.
I think the same thing is happening for real estate in tri-city, it has gone to the point that it just beyond reach of almost everyone.CommentQuote0Flag