There are several factors which have over the years contributed to the growth of the real estate market in Mohali. The government has been making efforts for a long time to promote urbanization in the country. It has also initiated the Smart Cities Mission and Housing for All by 2022. These initiatives are contributing to the growth of real estate and especially in cities like Mohali, and the opportunities are increasing too. Since the place is located close to Chandigarh, many anticipate it to be one of the best places for investment in the coming time. It has several IT companies and various options for commercial investment.
Why should you consider spending in Mohali?
Initially, Mohali was nothing but just a cluster of villages. However, with the changing times, Mohali has advanced too. Now, Mohali stands to be one of the busiest and efficient commercial destinations. Several companies are investing in the place, and the government is also making an effort for the Greater Mohali Area Development Authority (GMADA). Due to the presence so many favorable options, the real estate sector in Mohali is gradually developing too. As a result, many people spending progressively in Mohali. If you have been looking for an ideal destination for real investment planning that can serve you great deals in the future, then Mohali is the right place to visit.
Employment and Investment Opportunity
Mohali is often referred to as the SAS Nagar. You may find various and a wide range of job opportunities in Mohali. The Mohali state government is working towards developing the Ghar Ghar Naukri initiative to enhance the job sector. It is also bringing up several IT and multinational companies in Mohali. This further increases the chances of job opportunities in the city.
The great location of Mohali is what is drawing the investors towards it. The commercial investors are putting in a lot of money in the market. Several infrastructures have been build up in the past few years which is why Mohali is an attractive destination for commercial investors. Several entrepreneurs and business marketers are spending and investing in the market venture. Another major factor for the growth of Mohali includes the growth of the retail sector in the city.
Another major attraction is the Connaught plaza. Several top entrepreneurs and business investors have bid their money in the top retail brands. Apart from this, other major brands are also coming up in Mohali which is promoting investment.
Rising residential demand
Real estate sector is one of the most flourishing commercial industry in Mohali. The Greater Mohali Area Development Authority is also working towards developing the various real estate sectors in Mohali to meet the housing demands. The real estate properties in Mohali have been priced at many decent rates to ensure proper investment. Usually, the average price for a 1BHK apartment is placed at Rs 25 lakh. The 980 sqft 2BHK flats is sold for Rs 30 lakh.
Similarly, the 3BHK flats covering the area of 1200 sqft are priced at Rs 35 lakh. The luxury apartments cover a wide area of about 1500-2000 sqft. Owing to this the luxury apartments are usually priced from Rs 80 lakh to Rs 1.3 crore. The rental areas are also provided, with the rents of 2 BHK starting from Rs 15,000 each month.
Some of the prominent areas where a real estate investor must consider investing include Zirakpur, Sector 115 Mohali, Mullanpur and Sector 126 Mohali. These areas are getting a wide range of housing projects and deals over time. Moreover, due to its excellent location, these sectors have become famous too. Apart from this, you can consider spending near the airport road, GMADA AeroCity, and Gazipur.
What will be the future value of real estate?
All these factors have a massive impact on the real estate value of Mohali. If the city keeps developing at such rapid rates, the value of the real estate will increase too. Comparatively, the land prices in Mohali are pretty low at present, and due to its location and upcoming projects, it would sure higher in the future.
If You are interested in sale/purchase/rental property in Mohali. Submit your property Here