Punjab has proven that it does not need to be home to metropolises to have a successful real estate market. The families investing in homes in major locations across the state continue to ensure that the property market stays at the top.
Chandigarh, the capital, and Panchkula boast neighbourhoods that have taken the state’s real estate market to new heights. Most of these buyers are families—both joint and nuclear—who are looking to invest in a house that suits their needs. Owning property in Chandigarh has become an aspiration for families living in the city. The Human Development Index and literacy rate in the city are very high, which provides additional impetus for families to not just invest in properties as assets, but also live in them.
Planned Cities Offer Great Living Advantages
Chandigarh is a spacious version of Delhi that not only experiences pleasant weather throughout the year but also has an amazing infrastructure. As much of the development has been undertaken in the recent past, the amenities are fairly new and in excellent condition. Some of the most prominent names in the real estate business have set up townships in the best sectors across Chandigarh. Due to its status as a union territory, it also enjoys a lot of trade benefits and tax exemptions.
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A lot of families relocate to Chandigarh post-retirement, from Delhi and other neighbouring cities. Young professionals can also afford to invest in homes here due to the reduction in property costs the city has seen in the recent years, which has further boosted the affordability factor.
An impeccably planned city, Chandigarh is not densely populated. All the civic resources for people are well-situated and in abundance here. Even central locations and sectors that enjoy close proximity with Jaipur, Haryana, Delhi, etc., are not overcrowded. Families looking to purchase a cozy apartment in a reputed township are not forced to limit themselves to the outskirts of the city either. The rail project in Chandigarh is also expected to lead to a rise in real estate prices.
Housing Options for Every Family
The Government also offers subsidies for economically backward families and allots them land as well as other options of affordable housing in Chandigarh . It has become simpler for families to afford their own homes in the city thanks to these initiatives. Not only is the government creating such opportunities, but also undertaking the construction of properties for various low-income communities.
Flats in Chandigarh are especially popular among nuclear families that are looking to live in an upscale neighbourhood, with access to good schools and other urban amenities as well as proximity to bigger cities such as Delhi. The high demand has also resulted in an increase in property rates in Chandigarh.
If you are looking to own a flat of your own, now is the best time to invest in Chandigarh or Panchkula where you can actually build a house of your dreams for an affordable price.