Real Estate Chandigarh

Residential and Commercial properties in Chandigarh..

30 October 2006

Panchayat land worth Rs 2500 crore grabbed

In what may turn out to be one of the biggest ever land scams in this region, about 2,870 acres of land located just on the boundary of Chandigarh has been usurped by influential people reportedly in connivance with some revenue officials of Punjab.
The prime land is currently valued in the open market at nearly Rs 2,500 crore and is considered a “financial goldmine” in real estate chandigarh circles. Located in the foothills of the Shivaliks, it is just a couple of kilometres away from Chandigarh in Karoran village and the adjoining areas of the newly carved Mohali District.
As per revenue record, the land was originally categorised as “shamlat deh khewat (common village land). Punjab Government revenue officials, in an unprecedented manner, firstly changed the category to “shamlat deh jur khewat”. Just a day after doing so, the land was divided amongst a few landowners of Karoran village through a mutation allowed by the Tehsildar.
A retired Kanungo, who is referred to as a “commission” in the mutation papers, is a witness to all this. No records exist to indicate how he was appointed as a “commission”.
Once the division of land was allowed, the shares of these landowners were soon purchased by the high and mighty of the region.
Last week, the controversial land was included in the nagar panchayat. This means the land, which should have been rightly owned by the panchayat, can now become the property of individuals.
Officials pointed out that common village lands are vested with the Panchayats under the Punjab Village Common Lands Regulation Act, 1961, and no ownership can be changed without meeting the criteria laid down in the Act.
Revenue experts, from whom this reporter got the relevant papers examined, said this entire process was faulty.

Source: //tribuneindia.com
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24 October 2006

Punjab farmers seek Canada bonanza

Many farms in Canada are being abandoned because their owners are too old and the next generation has switched careers or migrated to the cities.
"So they need outsiders to come in and do the job. We are one of the countries providing it," he adds.
So with an investment of 150,000 Canadian dollars ($130,000), a farmer in Punjab can buy a farm in Canada.

A sprawling farm in Punjab
The Canadian High Commission in Delhi is one of the country's biggest missions. Only the embassy in China generates more immigrant visas.
On most days you can spot a crowd of turbaned Punjabi men squatting on the lawns outside it, waiting to be called in for a visa interview.
Trudy Kerningham heads the immigration section at the commission and sheds light on what they can expect.
"If someone is going to purchase a farm in Canada, have they done their research? Do they have the skills, the money? Do they understand the whole management of a Canadian farm? While they may be very experienced in Punjab, does that translate to managing a farm in Canada?"

Source://news.bbc.co.uk
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16 October 2006

Chandigarh rises from the North

The realty boom is not restricted to metro cities any more. Due to some local and general factors, the property value is rising in the non traditional markets like the city of Chandigarh. The prices of Chandigarh Properties have continuously appreciated during last four years. Some of the factors behind the price appreciation being setting up of new technology parks, spill demand over from overcrowded metros like Delhi, falling home loan rates and excessive liquidity because of liberal credit policies. Affluent people are willing to buy independent houses instead of apartment or flats even if it is on the outskirts of the city which is available at the same price of a flat inside the city. Comfortable, safer, greener surroundings along with medical and educational facilities in the vicinity are in demand.

The other major reason for this property boom is the changed mindset of the young property buyers. Some of them don't mind taking a mortgage to buy a house. They want to enjoy the present and pay later. The people in their 20’s want to buy property much advance in their lives. One real-estate consultant tells TIMES NOW, "The prices have increased three fold in last three years." NRI investments in the city are another big factor. Premium apartments are coming up in large numbers in the city. According to experts, there is no dearth of genuine buyers and the real estate boom is to continue in the future, as city can’t expand either way.
The city is to deliver a lot.

Source : timesnow.tv
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11 October 2006

Parsvanath to build integrated Chandigarh township

Parsvanath Developers, a leading Indian real estate builder, is to develop a Rs.8.2 billion integrated township in the information technology (IT) park campus here.
Parsvanath deposited its first instalment of Rs.1 billion and inked the project agreement with the Chandigarh Housing Board (CHB) Friday. The company will develop a 124-acres complex combining residential and commercial establishments.
'It will be a world-class project with the best of facilities,' said Pradeep Jain, chairperson of Parsvanath Developers.
The project would be an eco-friendly one with almost 20 percent of land area being reserved for recreational greens and another 10 acres reserved for water bodies, according to a press release here.
The proposed township would be complete with apartments, private villas, shopping malls, schools, recreational clubs, a petrol pump and a sports stadium.
The project, situated near the Rajiv Gandhi Technology Park, is expected to be complete in three years.

Source:http://www.indiaprwire.com
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