By virtue of the factors such as industrialization, urbanization, and govt. initiatives in the field of the real estate sector are effective for the investors. By all these factors rapid economic growth of the real estate sector affects not only the major cities but also cities like Zirakpur, Mohali, Kharar & Derabassi. These cities become more prominent due to their high livability, interest rates, direct connectivity with industries, and plentiful options for commercial investment. Also, these places have direct connectivity with Chandigarh. There are some basic factors that might help you to understand why invest in real estate in these cities.
These cities offer plenty of job options to people as several IT companies & multinational companies are organized with these areas and multinational companies give opportunities for increased employment. So it is an important factor in buying properties in these areas.
The location of these areas attracts many investors in land investment. These areas attract investors with their intensify infrastructure and attractive location. In the field of the real estate sector, rapid economic growth in industries is the imperative factor.
3. Souring Residential Demand-
At this time investment in these areas is possible close to everyone. In these areas, apartments are available at affordable prices to high prices. For those who are looking for property in these areas, options are available on large scales. 1 BHK, 2 BHK, 3 BHK, 4 BHK, 4 BHK + 1 & villas are also available. These areas are the protuberant localities that are in high demand and have a high number of housing projects. Some of these projects are also available on the airport road to draw the attention of investors.
These areas have the advantage of direct connectivity to Chandigarh. Some of these projects provide their investor’s free clubhouse membership. These areas have well-known Medical Colleges, Business Schools, and the national institute of pharmaceutical education and Law Colleges. Best Health Care Institute, Shopping Malls, Cineplex’s, and Retail Shops are also available. This is also a major factor that attracts people to invest in real estate in these areas.
5. Demographic Factors-
These factors also play a major role in the real estate sector. In this, we can understand the composition of the population, age, gender, and literacy rate of the population in that particular area. From the last few years in these areas literacy rate has seen upward. The literacy rate around these is 86.99% in which male literacy is 89.77% and female literacy is 81.19% which is a good ratio.
6. Government Policies-
These areas have direct connectivity with the union territory of Chandigarh due to which they have achieved their rapid growth. Government has certain policies for these areas like GMADA for Mohali which is known as Greater Mohali Area Development Authority. This project includes modes of allotment for Institutional sites, allotment of land to provide charitable hospitals, and policy of allotment of plots/houses to outers.