| IT companies to drive the trends… | | | | extending world-class facilities to these techno-giants. |
| Owing to its well-planned infrastructure, availability of | | | | Now that these projects have been enjoying enviable |
| land, quality human resource base, and favorable | | | | success, real estate in Chandigarh has turned hot. The |
| policies, Chandigarh has become an attractive | | | | capital prices and rentals in the commercial segment |
| destination for IT and ITeS companies. Meanwhile, | | | | have been consistently rising in the past 3-years, |
| international technology giants IBM, Dell, Quark, TCS, | | | | however a bit of slowdown is noticed in the residential |
| Wipro and Infosys have already set up their huge | | | | segment. |
| facilities in the city. And definitely the trend casts | | | | Besides, the city is well-connected with all the major |
| positive impact on real estate markets in Chandigarh. | | | | parts of the country and the state of local |
| Chandigarh is touted as the first planned city of India. | | | | infrastructure is also quite impressive. |
| With time, the city boundaries have sprawled to the | | | | Of Capital Values and Rentals |
| radius of 40-kms from 8-kms, and a number of | | | | Presence of big companies has affected the |
| settlements from the states of Haryana, Punjab and | | | | properties in the prime commercial areas. At present, |
| Himachal Pradesh have been incorporated in the city. | | | | rentals at Sector 19 are treading at historic highs of Rs |
| Of late, real estate majors like DLF, Ansal, Unitech and | | | | 90 per sq. ft a month, while the same hovers between |
| Omaxe have launched their projects in different parts | | | | Rs 20-35 at Sector no. 17 and 22. |
| of the city, and the city is poised to emerge as a | | | | The capital values have also soared to Rs 10-11,000 |
| potential alternative for software companies, as a suite | | | | per sq. ft at Sector 17 and 19. Prices at Sector 22, |
| of IT majors making a beeline to establish their units in | | | | however, are quite moderate at Rs 6-7 per sq. ft. |
| the city. | | | | Future Outlook |
| Growth Drivers | | | | With business environment turning positive in |
| Development of 375 acre Chandigarh Technology | | | | Chandigarh, the real estate sector of the city is set to |
| Park (CTP) at Manimajra, north-east part of | | | | remain on high trajectory of growth. According to the |
| Chandigarh, and IT park in Mohali has attracted the | | | | professionals from the industry, Chandigarh Property |
| attention of IT companies to the city. | | | | markets will be primarily driven by the IT industry, |
| The projects boast of state-of-the-art infrastructure | | | | especially in the commercial segment and trends in |
| and facilities equivalent to those available in the cyber | | | | that case will be in line with the developments in the |
| cities of Bangalore and Hyderabad. Furthermore, DLF | | | | segment. |
| has set up its Infocity within the CTP zone, in view of | | | | |