Developing Zones : Chandigarh

chandigarhBy Accommodation Times News Services


Chandigarh is considered as one of the most beautiful cities in India. The city is famous for its high standard of living with the highest per capita income in the country. The city has two satellite cities – Panchkula and Mohali.  Roundabouts like this one can be found throughout the city.

In a recent survey, Chandigarh has been ranked on the top of the list of cities preferred by the investors. Within the last two years the city has witnessed enormous development in relation to real estate both commercial and residential. Chandigarh and the surrounding area is becoming hot spot for developers, investors and end users. Developers from all over the country have flocked in here and have launched their projects around the city in areas like Kharar, Zirakpur, Baddi, Dera Bassi, Panchkula and Mohali.  The residential sector is showing a great amount of activity around the city. Demand for residential colonies is both investment and residential driven. Several residential blocks are coming up in the outskirts of the city. Major among these are sector grids of Mohali, Kharar road and towards Zirakpur.   Dozens of property deals are being clinched each day, even as Chandigarh real estate prices spiral out of control, whereas they stand stabilized in Gurgaon.

With a conducive atmosphere on offer, Chandigarh is an encouraging base for most IT firms to set up an IT centre or office in its RajivGandhiInformationTechnologyPark. These projects are coming in the suburban areas of Chandigarh due to land exhaustion in the city and a very limited option with exorbitant prices. The various projects offer options of plots, villas and flats to the buyers to choose from. In Chandigarh many kothis are getting converted in to apartments that have further increased the price of land in the city.  Keeping all these factors in mind, it is the best time to invest in Chandigarh with several projects offering various schemes and festive discounts. And the state government also added more fuel in the competition by cutting 1% in stamp duty on sale deeds of immovable property in the city. It is now 5 per cent. Stamp duty is described as general revenue that a person pays on the registered value of the property. It has to be paid in case of both the commercial and residential property.

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