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