Chandigarh:The Best Place to settle down your business

Now a days , Chandigarh is the most attractive point for all real estate giants!!Check it OUT!!

Decline in property prices

After a boom in real estate, Chandigarh’s satellite towns are witnessing a sharp decline in property prices coupled with few transactions.

In Panchkula, prices have gone down by 25-30% in old sectors and 30- 40% in new sectors. A500 sq yard residential plot in Panchkula extension quoted at Rs 1.10 crore six months ago, is available for about Rs 60 to 70 lakh. One reason for the decline in property prices in Panchkula could be the hike in collection rates for registration of deeds,The hike is from Rs 9 lakh-Rs 36 lakh for a residential plots in Panckkula’s new sectors.

The realty boom began in Zirakpur, near Chandigarh. For years, builders built multi-storey flats here but there were no buyers. But IT Parks coming up at Chandigarh and Mohali led to an overnight boom.
Then Derabassi, a subdivisional town on the Chandi garh-Ambala highway, witnessed the boom. Three major real estate players launched their mega multi-storeyed projects, setting the stage for an unprecedented increase in real estate prices.

Source:http://www.financialexpress.com/

CBI raids Chautala's properties at 21 places

The Central Bureau of Investigation (CBI) raided the properties of former Haryana chief minister Om Prakash Chautala and his family at 21 places in various states.The raids were carried out at the residences of the Chautala family in the Haryana capital Chandigarh, his hometown Sirsa in Haryana as well as in Delhi, Rajasthan and Uttaranchal.
CBI officials told IANS that the raids were a follow-up to the agency's investigation against the Indian National Lok Dal leader for amassing huge property of 1,400 crore.


Source:http://www.news.yahoo.com

Fall in Land Prices by 15%

In Mohali realty prices had risen by 100% in the last six to eight months but at present there’s a 10 - 15% decrease.Prices of Residential propety in prime locations in Chandigarh, such as Sector 8, 9 and 10 that were between Rs 50,000 to Rs 70,000 per square yard, stand at about Rs 45000 to Rs 65,000 per square yard now. And brokers in the city believe that prices will keep dipping by another 15 percent over the next 6 months.

Moreover, the actual users are primarily the IT companies but they are taking their own time to occupy. The investor community is also keeping away which further adds to all this. So it's a wait and watch situation for the real estate market in these areas.

And if common man wants to invest in these areas then it's the great opportunity to invest .............. Don't waste time....... Go and Invest in Chandigarh!!!!!!

Source:www.moneycontrol.com