As one of the most progressive states in Northern India, Punjab has demonstrated a unique ability to embrace technology, infrastructure, and modern interventions better than any other city. In particular, Mohali, also known as SAS Nagar, has emerged as one of the most preferred destinations for rental and commercial properties that are replete with affordable budget options.
The real estate market in Mohali has been booming with a substantial increase in the availability of plots and projects. The city’s property market, comprising all types of real estate units, has become a lucrative lure for many investors looking for realty projects as an investment choice.
The rapid development in infrastructure and the addition of excellent facilities have contributed to a hike in property rates, which has benefitted investors and will benefit future buyers as well.
Mohali: An Emerging Investment and Employment Destination
Mohali, also known as a satellite town or even a cluster of villages, is the most commercial end of Punjab. With exceptional plans to develop it ahead of the Greater Mohali Area Development Authority (GMADA) and the state government, the area has brought the attention of numerous investors and developers who are willing to invest in the market.
Many IT companies have invested heavily in the area, which has led to a surge in employment opportunities. Additionally, the booming retail sector in Mohali is another factor that has contributed to the high demand for real estate.
Several businesses, entrepreneurs, and businessmen are planning to enter the market to start their businesses. An upcoming project will give commercial spaces for savings and encourage top retail brands, taking the real picture of Mohali to the next level.
The flourishing commercial section of Mohali’s real estate has resulted in the development of the residential area. Moreover, the property dealers in Mohali are even assisting people in buying good properties.
Property Price Range in Mohali
Interested home buyers in Mohali can choose from 1 BHK, 2BHK, 3 BHK, and 5BHK apartments. The average cost remains at Rs 4,000 per sqft. A typical 1 BHK home having a size of around 700 sqft can be purchased for a starting cost of Rs 25 lakh.
On the other hand, the price of a 2 BHK flat sized at 980 sqft is generally priced around Rs 35 lakh. The price of a luxury apartment in Mohali with a spacious coverage of around 1,500 sqft to 2,000 sqft remains between Rs 80 lakh and Rs 1.3 crore. These flats are also available for rental options that start from Rs 15,000 per month.
The top localities in Mohali, including Mullanpur, Zirakpur, Sector 115 Mohali, and Sector 126 Mohali, are witnessing good demand and a number of housing plans. These areas have also found good cost appreciation in recent years.
Rapidly, Mohali has become an active education hub with the existence of numerous esteemed academic institutes for professional courses. The top institutions here are the Chandigarh Business School (CBS), the Indian School of Business (ISB), and the National Institute of Pharmaceutical Education and Research.
Mohali is also famous for its cricket stadium, which provides other significant social services, including the best-in-class healthcare centres, more than 90 schools, and an excess of shopping malls, eateries, cineplexes, and retail shops.
Conclusion
With leading real estate builders investing to create a luxurious haven for present and future residents, variation in the property rates of Mohali, Panchkula, and Chandigarh. The establishment of luxury homes at affordable price
