NEW CHANDIGARH
NEW CHANDIGARH

 Real Estate Market in New Chandigarh: A Smart Choice for Property Investors

New Chandigarh is a planned city that is being developed as an extension of Chandigarh, the capital of Punjab and Haryana. It is located in the Mullanpur area of Mohali district, about 15 km from Chandigarh. New Chandigarh is envisioned as the first eco-city of Punjab, with a focus on green and sustainable development. New Chandigarh is also emerging as a hub for real estate investment, owing to its strategic location, connectivity, infrastructure and potential.

Location and Connectivity

New Chandigarh is situated at the foothills of the Shivalik range, offering a scenic and serene environment. It is seamlessly connected to Chandigarh’s prime roads, such as Madhya Marg and Dakshin Marg, where all the social and commercial sectors are located. It is also close to the Chandigarh International Airport, which is about 20 km away. New Chandigarh has its own railway station, and is also near the Chandigarh Railway Station, which is about 18 km away. New Chandigarh is well-connected to the rest of the Tricity by road and public transport, such as buses and cabs.

Infrastructure and Amenities

New Chandigarh has been planned and designed with a futuristic vision, incorporating new technologies and best practices. The city has wide and congestion-free roads, water supply and sewerage systems, power backup and waste management facilities. The city also boasts of various amenities and facilities, such as schools, colleges, hospitals, malls, markets, parks, hotels, restaurants and entertainment zones. Some of the notable developments that are under construction or planned in New Chandigarh are:

  • A 1700-acre proposed Education City (Knowledge Zone) that will be a modern learning destination in Punjab.
  • A Tata Memorial Centre’s cancer hospital and research centre that will provide world-class healthcare services.
  • A Medicity that will house various super-specialty hospitals and medical colleges.
  • An IT City that will host various IT and ITES companies and create employment opportunities.
  • A Sports Complex that will have facilities for various indoor and outdoor sports.
  • A Lake that will be a recreational and tourist attraction.

Real Estate Trends and Opportunities

New Chandigarh has seen a surge in the demand and supply of real estate properties in the recent years, especially after the Covid-19 pandemic. According to Omaxe.com, there are over 50 properties for sale in New Chandigarh as of December 2021, ranging from plots to apartments to villas. The most popular areas for buying properties in New Chandigarh are Omaxe Phase 1, Omaxe Phase 2, Omaxe Phase 3 and DLF Hyde Park. The most preferred property types are independent floors, plots and villas, followed by apartments. The average price range of properties for sale in New Chandigarh is Rs. 40 lakh to Rs. 3 crore.

New Chandigarh also offers various opportunities for real estate investors and developers, as it is expected to witness a further growth in the coming years. According to Construction Week Online India, New Chandigarh is one of the top investment options in the country because of the steady influx of people from nearby areas, especially Chandigarh. The city also offers a higher return on investment (ROI) than other cities in Punjab and Haryana. Some of the notable projects that are under construction or planned in New Chandigarh are:

  • Omaxe The Resort: A luxury residential project that offers 2 BHK to 4 BHK flats with carpet area ranging from 837 sq.ft. to 3637 sq.ft., starting from Rs. 40 lakh to Rs. 1.75 crore.
  • Omaxe Celestia Royal Premier: A premium residential project that offers 3 BHK to 4 BHK independent floors with carpet area ranging from 1580 sq.ft. to 2020 sq.ft., starting from Rs. 58 lakh to Rs. 85 lakh.
  • DLF Hyde Park: A residential project that offers plots with size ranging from 250 sq.yd. to 500 sq.yd., starting from Rs. 75 lakh to Rs. 1.5 crore.
  • GMADA Eco City: A residential project that offers plots with size ranging from 100 sq.yd. to 500 sq.yd., starting from Rs. 70 lakh to Rs. 3 crore.

Conclusion

New Chandigarh is a city that has a lot to offer for property seekers, investors and developers alike. It has a strategic location, connectivity, infrastructure and amenities that make it an attractive destination for real estate development and investment. New Chandigarh is also witnessing a rise in the demand and supply of real estate properties, as well as a growth in the potential and value of the city. New Chandigarh is a city that is poised to become one of the leading real estate markets in Punjab and the Tricity region.