Factors That Makes Mohali An Evolving Market In Real Estate

Factors like urbanisation and government programs such as the Mission to Smart Cities and Housing for All By 2022, not only major cities across the country but also several Tier II cities are booming in the real estate market. Mohali is one such town. Located near Chandigarh, property in Kharar, Mohali offers a high living standard, superior connectivity, an inflow of IT companies and extensive commercial investment options among emerging cities in the Country.

Mohali is originally a satellite and village cluster in Punjab and is a very busy business destination today. The Grand Mohali Area Development Authority (GMADA) and the State Government have been working to improve this destination further.

Employment And Prospects For Investment
Mohali is also known as SAS Nagar, offering many work choices. State-run initiatives like Ghar Ghar Naukri and investment proposals from multiple IT firms and other multinationals would open doors for more job opportunities in Mohali in the future.

The location of Mohali attracts a large number of developers and investors. Mohali has already developed itself as an enticing place for business investors with large plots of land and improved infrastructure. Many entrepreneurs and entrepreneurs intend to enter this market in large numbers to operate here. In addition, the booming Mohali retail industry is another crucial factor in sustaining property demand.

Connaught Plaza is a potential project that will include investment commercial spaces and invite top retailers. The real picture of Mohali is also increasing in the world's class projects such as the World Trade Centre.

Increasing Residential Demand
Mohali's flourishing business segment has brought its residential sector to prosperity. The funding from the Greater Mohali Area Development Authority (GMADA) through various housing schemes helps also to meet demand for housing in the city.

Apartments in Mohali are available at an average price of 3200 rs per sqft for those seeking properties in Mohali. For a starting price of Rs 25 lakh, a regular 1BHK home of 700 sq ft can be purchased. 2BHK layouts apartments of 980 sqft have an annual Rs 30 lakh average price.

The average prices of Rs 35 lakh are in apartments with 3BHK layouts, sizing between 1.200 sq ft and 2000 sq ft, while prices for luxury apartments scale between Rs 80 lakh and 1.3 crores. 2BHK residential properties are rented independently from Rs 15.000 a month.

Sector 115 Zirakpur. Sector 126, Mohali Mullanpur and Mohali are some of the most important places where the demand is good and there are numerous housing projects. In recent years, these localities have also seen a strong rise in rates. Gazipur, the airport road and GMADA AeroCity are other places worth investing in.

Connectivity And Infrastructure
In terms of convenience and proximity to key spots, Mohali is advantageously situated. Simple access to Chandigarh and nearby towns of Ambala and Delhi is available via a 200-foot ring road and rail connections. Mohali is also a viable investment option with the presence of a new international airport. The metro line, once operational, will enhance the citizen's travel experience under the Chandigarh Metro Rail project.

Mohali has many prestigious academic institutions with professional studies. It is also a busy educational hub. The ISB, the CBS, the National Institute for Pharmaceutical Education and Research and other legal and medical colleges are among the top three. The Indian Institute of Commerce is one of the main components of these. Mohali is also popular for its famous cricket stadium, and offers other important social facilities, such as classrooms, over 90 schools and numerous shopping malls, cineplexes, restaurants, shops and retail outlets.

Considering the above mentioned factors, it would be a wise move to invest in real estate property in Mohali.