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Panchkula Experiencing Tremendous Boom in Realty

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Panchkula Experiencing Tremendous Boom in Realty

Last updated: February 10 2016
34 | Posts
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  • #11

    #11

    Re : Panchkula Experiencing Tremendous Boom in Realty

    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!!

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    • #12

      #12

      Re : Panchkula Experiencing Tremendous Boom in Realty

      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.

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      • #13

        #13

        Re : Panchkula Experiencing Tremendous Boom in Realty

        Originally posted by jatinderchd View Post
        Agreed 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.

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        • #14

          #14

          Re : Panchkula Experiencing Tremendous Boom in Realty

          Originally posted by ATLGUY View Post
          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.
          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.

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          • #15

            #15

            Re : Panchkula Experiencing Tremendous Boom in Realty

            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.

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            • #16

              #16

              Re : Panchkula Experiencing Tremendous Boom in Realty

              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.

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              • #17

                #17

                Re : Panchkula Experiencing Tremendous Boom in Realty

                Originally posted by ATLGUY View Post
                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.
                I completely agree with you when you say that these are the best places to live atleast in India. I have lived in many cities in India but the kind of comfort I feel living in Panchkula does not match anything else. I think it is closest you can get to foreign cities.
                However I am happy living on rent here at a much lower cost than to buy it. I may be proved completely wrong if the 2.5 Crore house turns out to 5 crores after 5-7 years but I will be very surprised if that happens.

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                • #18

                  #18

                  Re : Panchkula Experiencing Tremendous Boom in Realty

                  Current rates

                  Friends, can anyone tell the current rates in sector 28, pkl.

                  Regards

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                  • #19

                    #19

                    Re : Panchkula Experiencing Tremendous Boom in Realty

                    I have been visiting houses in developed sectors of panchkula and I was about to finalize a deal yesterday until I met one of local residents, a property consultant known to my brother, who completely changed my mind. He said property prices have come down 25% and will fall further. I said I am ready to bear another 10 to 15% fall but wouldn't want to miss the bus this time around. He said prices are not justified there is no demand in the market. He enumerated few points that I find really convincing.

                    -POA in not legal anymore since october. Transaction costs have to be paid for each transaction(not good for intermediaries)

                    - Circle rates have gone up and will increase further again from Apr 2012 which implies that white portion has increased.(good for end users but not so good for investors having black money).

                    -Huge inventorty. Even Govt working people own 2 -3 property in tricity. Can imagine about financers and speculators.

                    - Employment (specially IT and higher income groups ) story looks bleak.

                    - Again over suppy in tricity- Panchkula sec 20 group housing, Mohali, Kharar-landran, Mullanpur, Aerocity, Panchkula extension, Huda's new sectors coming up beyond sec 28 etc.

                    -Old sectors have huge problems of parking place, specially 10 marla kothis(If I may call) and under in all sectors.

                    Any comments/suggestion/contradiction are most welcome. I would love to have your insight on this.

                    Comment

                    • #20

                      #20

                      Re : Panchkula Experiencing Tremendous Boom in Realty

                      That sound like a perfect reasoning. I think your property dealer friend has made some very valid points. Overall all these factors are making things more resonably priced for the common man and it is high time that happened. I would suggest you to wait for sometime and if you are an NRI, put your money into FD and watch it grow at almost 10% tax free which equates to almost 13% taxed amount ----- the safest bet for the moment.

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