# Zirakpur vs New Chandigarh: Which is the Better Location for Real Estate Investment?
If you are looking for a lucrative and stable investment option in the tricity of Chandigarh, Mohali and Panchkula, you might be confused between two emerging cities: Zirakpur and New Chandigarh. Both these cities offer a range of residential and commercial properties at affordable rates with modern features and facilities. Both these cities also have high demand and low supply of properties with high rental yields and high future prospects. So, how do you decide which city is better for your investment? In this blog, we will compare these two cities on various parameters such as distance from Chandigarh, average price, demand-supply gap, rental yield, future prospects, major projects and major attractions.
## Distance from Chandigarh
Chandigarh is the capital city of Punjab and Haryana and a union territory with a high per capita income and low crime rate. It is also one of the most livable and planned cities in India with a green and clean environment. Therefore, the distance from Chandigarh is an important factor to consider while investing in real estate around the tricity.
Zirakpur is located on the border of Chandigarh and is only 14 km away from the city. It is well-connected to Chandigarh by road, rail and air. The newly built flyover at Zirakpur-Chandigarh border has reduced the traffic congestion and travel time significantly. It takes only 4 minutes to reach Chandigarh from Zirakpur by the flyover.
New Chandigarh is located south of the Shivalik range and is 15 km away from Chandigarh. It is also well-connected to Chandigarh by road, rail and air. The proposed metro station will further enhance the connectivity and accessibility of New Chandigarh. It takes around 20 minutes to reach Chandigarh from New Chandigarh by road.
## Average Price
The average price of real estate properties in these two cities varies depending on the location, type, size and amenities of the property. According to Magicbricks data, the average price per square feet (psf) of properties in these cities as of June 2022 is as follows:
- Zirakpur: Rs. 3,200 psf
- New Chandigarh: Rs. 3,800 psf
As we can see, Zirakpur has a lower average price than New Chandigarh. This is because Zirakpur is relatively more developed and established than New Chandigarh, which is still in its nascent stage. Zirakpur has more supply of properties than New Chandigarh, which also brings down the prices. Zirakpur offers more affordable options for buyers who are looking for budget-friendly properties.
New Chandigarh has a higher average price than Zirakpur. This is because New Chandigarh is an extension of Chandigarh and has a similar planning and architecture. New Chandigarh has less supply of properties than Zirakpur, which also drives up the prices. New Chandigarh offers more premium options for buyers who are looking for luxury properties.
## Demand-Supply Gap
The demand-supply gap of real estate properties in these two cities indicates the balance or imbalance between the number of buyers and sellers in the market. A low demand-supply gap means that there are more buyers than sellers, which leads to higher prices and lower inventory. A high demand-supply gap means that there are more sellers than buyers, which leads to lower prices and higher inventory.
According to Magicbricks data, the demand-supply gap of properties in these cities as of June 2022 is as follows:
- Zirakpur: Low
- New Chandigarh: Medium
As we can see, Zirakpur has a low demand-supply gap, which means that there is high demand and low supply of properties in this city. This is because Zirakpur is witnessing rapid urbanization and industrialization with sectors such as IT, education, healthcare and tourism creating employment and business opportunities. Zirakpur also has a large influx of migrants from nearby areas who are looking for affordable housing options. These factors have increased the demand for both residential and commercial properties in this city.
New Chandigarh has a medium demand-supply gap, which means that there is moderate demand and supply of properties in this city. This is because New Chandigarh is also developing at a fast pace with new infrastructure and amenities being built. New Chandigarh also has a mix of urban and rural lifestyles with a diverse culture. These factors have attracted both end-users and investors to this city.
## Rental Yield
The rental yield of real estate properties in these two cities indicates the annual return on investment (ROI) that an investor can expect from renting out their property. It is calculated by dividing the annual rental income by the property value. A higher rental yield means that the property is generating more income and is more profitable. A lower rental yield means that the property is generating less income and is less profitable.
According to Magicbricks data, the rental yield of properties in these cities as of June 2022 is as follows:
- Zirakpur: 3.8%
- New Chandigarh: 3.2%
As we can see, Zirakpur has a higher rental yield than New Chandigarh. This is because Zirakpur has high demand and low supply of rental properties due to the large number of migrants, students, professionals and tourists who are looking for temporary accommodation. Zirakpur also has lower property prices than New Chandigarh, which makes it more affordable and attractive for renters.
New Chandigarh has a lower rental yield than Zirakpur. This is because New Chandigarh has moderate demand and supply of rental properties. New Chandigarh has a mix of residential and commercial properties that cater to different segments of renters. New Chandigarh also has higher property prices than Zirakpur, which makes it less feasible for renting.
## Future Prospects
The future prospects of real estate properties in these two cities indicate the potential for growth and appreciation in the coming years. The future prospects depend on various factors such as location, connectivity, infrastructure, amenities, policy framework, etc. A high future prospect means that the property is likely to increase in value and demand in the future. A low future prospect means that the property is likely to decrease in value and demand in the future.
According to our analysis, the future prospects of properties in these cities as of June 2022 are as follows:
- Zirakpur: High
- New Chandigarh: High
As we can see, both Zirakpur and New Chandigarh have high future prospects, which means that these cities are likely to witness high growth and appreciation in the future. This is because these cities are emerging as the new hubs of development and innovation with sectors such as IT, education, healthcare and tourism driving the economy. These cities also have excellent connectivity to Chandigarh and other cities by road, rail and air. These cities also have favourable policy framework with incentives and subsidies for investors and developers.
## Major Projects
The major projects of real estate properties in these two cities are the prominent residential and commercial projects that offer a range of options for buyers and investors. These projects are developed by reputed builders and developers who have a track record of delivering quality projects with timely completion. These projects have modern features and facilities that enhance the lifestyle and comfort of the residents.
According to our research, some of the major projects of properties in these cities are as follows:
- Zirakpur: Suntec City, Chandigarh Citi Center, Orbit Signature Walk
- New Chandigarh: Omaxe The Resort, DLF Hyde Park Estate, Florence Park
Suntec City is an integrated township by ABS Group that offers residential plots, independent floors and commercial spaces in a prime location. The project has a mix of office spaces, retail outlets, food courts, multiplexes, etc., that cater to the diverse needs of the customers. The project is located on the main road and is close to the airport, railway station and bus stand.
Chandigarh Citi Center is a landmark project by Citi Center Developers that offers commercial spaces in a modern complex. The project has a variety of commercial spaces, such as showrooms, office spaces, shops, etc., that are suitable for different businesses. The project is located on the VIP road and is surrounded by residential colonies and educational institutions.
Orbit Signature Walk is a premium project by Orbit Apartments Construction Pvt Ltd that offers commercial spaces in a futuristic design. The project has exclusive commercial spaces, such as showrooms, office spaces, etc., that are ideal for high-end brands and businesses. The project is located on the main road and has ample parking space and security features.
Omaxe The Resort is a premium project by Omaxe Group that offers 2, 3 and 4 BHK apartments with world-class amenities such as clubhouse, swimming pool, gym, park, etc. The project is located on the main road and is close to major landmarks and facilities.
DLF Hyde Park Estate is a prestigious project by DLF Ltd. that offers plots, independent floors and villas in a gated community. The project is spread over 200 acres and has landscaped gardens, jogging tracks, sports facilities, etc. The project is well-connected to Chandigarh and Mohali and has reputed schools, hospitals and malls nearby.
Florence Park is a luxurious project by Ambika Realcon Pvt Ltd that offers 3 and 4 BHK apartments with Italian theme and design. The project has a central park, water bodies, fountains, etc. The project is located near the Medicity and has easy access to the airport, railway station and bus stand.
## Major Attractions
The major attractions of these two cities are the places of interest and entertainment that attract tourists and visitors from nearby and far-off areas. These attractions include historical monuments, religious places, natural beauty, cultural events, etc. These attractions add to the charm and appeal of these cities and also boost the economy and social life of the residents.
According to our research, some of the major attractions of these cities are as follows:
- Zirakpur: Chhatbir Zoo, Decathlon, Best Price
- New Chandigarh: Medicity, Education City, Tata Memorial Centre
Chhatbir Zoo is a zoological park that houses a variety of animals and birds in natural habitats. The zoo is famous for its lion safari, where visitors can see lions roaming freely in a fenced area. The zoo also has a reptile house, a deer park, an aquarium, etc.
Decathlon is a sports store that offers a wide range of sports equipment, clothing and accessories for different sports and activities. The store also has a playground, a skating rink, a basketball court, etc., where visitors can try out different sports and have fun.
Best Price is a wholesale store that offers a variety of products at discounted prices for bulk buyers. The store also has a food court, a bakery, a pharmacy, etc., where visitors can shop and eat.
Medicity is a medical hub that houses various hospitals and research centres that offer world-class healthcare facilities and services. Some of the renowned names in Medicity are Max Hospital, Fortis Hospital, Alchemist Hospital, PGIMER Satellite Centre, etc.
Education City is an educational hub that houses various educational institutions and research centres that offer quality education and training in various fields. Some of the reputed names in Education City are Indian School of Business (ISB), Indian Institute of Science Education and Research (IISER), Amity University, etc.
Tata Memorial Centre is a cancer hospital and research centre that is being set up by Tata Trusts in collaboration with the Punjab government. The centre will provide state-of-the-art treatment and care for cancer patients and also conduct research and training in oncology.
## Conclusion
Based on our comparison, we can conclude that both Zirakpur and New Chandigarh are excellent locations for real estate investment around Chandigarh. Both these cities offer a range of residential and commercial properties at affordable rates with modern features and facilities. Both these cities also have high demand and low supply of properties with high rental yields and high future prospects. Both these cities are emerging as the new destinations of growth and innovation with excellent connectivity and favourable policy framework.
However, if we have to choose one city over the other, we would recommend Zirakpur over New Chandigarh for real estate investment. This is because Zirakpur has some advantages over New Chandigarh such as:
- Zirakpur is closer to Chandigarh than New Chandigarh
- Zirakpur has lower property prices than New Chandigarh
- Zirakpur has higher rental yield than New Chandigarh
- Zirakpur has more developed and established than New Chandigarh
Therefore, if you are looking for a lucrative and stable investment option in the tricity of Chandigarh, Mohali and Panchkula, you should consider investing in Zirakpur. You can contact us for more details and guidance on how to find the best property that matches your needs and expectations. Don't miss this chance to be a part of the new city of dreams!
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