Latest Property News on 'Chandigarh'

Malls to be constructed on Chandigarh Bus Stands

Bus stands would be the latest venues for modern multiplexes and glitzy shopping malls in Punjab. Realizing that most bus stands are usually located at prime locations in Chandigarh and other cities in Punjab and would be an attractive proposition for realtors, the Punjab Industrial Development Board (PIDB) has planned multi-storey structures, where the ground-floor would function as bus stand and the levels above would house showrooms, offices, restaurants and cinemas.

Top names of Indian real estate have already submitted their expressions of interest for this project. Bids have been invited for development of bus stands at Mohali, Patiala and Bathinda on PPP model. Applicants include DLF Ltd, Gammon Infrastructure, Nagarjuna Constructions, GMR, Unitech, TDI, India Bulls Real Estate, Parsvanath and Omaxe. Bids have also come from far off places like PD Aggarwal Infrastructure Limited (Indore), Akruti City, Oberoi (Mumbai), IDEB (Bangalore) and Bengal Silver Spring (Kolkata). Read More »

Multiplexes & Malls opening up at Chandigarh

Starved of multiplexes and malls, residents of the tricity can now look forward to at least three such complexes in the next couple of months and double the number by the end of the year.

City Beautiful, which currently has just one multiplex to boast of, will get a second this week. DLF’s DT Cinemas will open at the Rajiv Gandhi Chandigarh Technology Park (RGCTP) on Friday with Saif Ali Khan-Kareena Kapoor starrer Tashan.

Spread over 1, 90, 000 square feet, the mall (retail brands) will be formally inaugurated on May 1 and Nicknish will be its anchor store. Though nearly fifty-five national and international brands, including French brand Axsara, Lee Copper, Levis, Numero Uno, John Players, Madame, Woodland, Reebok, Turtle and Meena Bazaar, will occupy retail space in the mall, there is little diversity in the retail mix which is mainly apparel. Read More »

Hotel Booms “Checks in” Chandigarh

World’s major hotel chains are moving in to tap the hospitality boom in Chandigarh. While Carlson Hotels Worldwide Asia Pacific announced its plan to set up a hotel at Zirakpur, it is an indication as to how the city has caught the fancy of the hospitality sector that is willing to expand itself in and around Chandigarh.

According to hotel industry analyst, the total investment being made in the hotel projects by the companies could be anywhere around Rs 1000 crore. Including foreign direct investments, developers like Uppal’s project of developing a five-star hotel in Sector 35 in association with JW Marriott involves an estimated cost of around Rs 250 crore. Read More »

Parsvnath to Bring Idea of ‘Luxe Living’ in Chandigarh

Parsvnath Developers Limited has recently announced the launch of most exquisitely designed, 123 acre luxurious township in Chandigarh. The project will be done in a collaboration of Chandigarh Housing Board.

To be named as Parsvnath Prideasia, the Township will come up amidst Sukhna Lake, golf course, and an upcoming five star hotel. It has saleable residential area of 38.5 lakh square feet and a commercial area of 2.7 lacs square feet. Read More »

Chandigarh Sets Examples for Other Emerging Boom Towns

Buying a house has become an out of reach task for most middleclass families. People save a little surplus money to invest in real estate but all in vain. They find nothing else except the news of property prices going through the roof. Considering small Indian cities and towns, it makes sense to imagine a lavishing life in metros especially when you have the resources.  But, is the real estate boom taking place only in metros?

A fast flourishing economy and booming service sector have brought a lot of modifications including an increase in income and purchasing power in smaller towns. Also, the requirement to keep costs under lens is encouraging several corporates to check out ‘B’ cities. Read More »

Chandigarh Cuts Stamp Duty on Properties

The Chandigarh Administration has brought a drop of 1% in stamp duty on sale deeds of immovable property in the city. It is now 5 per cent. Stamp duty is described as general revenue that a person pays on the registered value of the property. It has to be paid in case of both the commercial and residential property in Chandigarh from mow onwards.

As far as urban residential property is concerned, its existing collector rates is Rs 19,200 per sq yard and the buyer pays 6 per cent to the Administration on the total value of the property. Read More »

Chandigarh to be Country’s New IT Hub

Bangalore, the “Silicon Valley of India”, which comprises more than 1,500 top multinational companies under its umbrella, seems to be losing on an account of its poor infrastructure facilities.

Till now companies looked at Gurgaon, Mumbai or Bangalore whenever they thought of setting their establishments. Now, the conducive environment of Chandigarh and India’s “breadbaskets” are largely attracting the attention of Multinational Companies. With large opportunities for the corporate sector, the city has opened doors to welcome them. Also, the availability of educated and proficient manpower makes the city a strong contender to experience the next wave of IT growth. Read More »

Parsvnath to Develop Film City in Chandigarh

Chandigarh, which is renowned for its rock garden, will now have another major hot-spot—a multimedia-cum film city centre, which will be built at an estimated cost of Rs 800 crore —it will not only attract tourists, but will also bring along the Bollywood, who is always on a look-out for new place to shoot.

The project, which will include a film studio, a multimedia park, a multimedia entertainment centre and a multimedia college and research centre, will be develop by Parsvnath Developers. Read More »

Chandigarh Real Estate Prospects

Chandigarh, the city more populous for its modernism and widely acclaimed for its architecture is rearing to jump into the technology bandwagon. The booming real estate in Chandigarh is witnessing a number of projects, focusing not only to provide an array of amenities, but also to increase effectiveness of the place.

The city offers conducive atmosphere thereby encouraging most IT companies to look forward to spread their wings here. The list includes the name of some IT biggies such as IBM, Dell, Cognizant, Mphasis and Satyam who are considering about making good investments in Chandigarh. Such a tremendous industrial growth has also contributed to the escalation of residential property here. Read More »

Real Estate Prices Rise in Tier II and Tier III Cities

As property prices in metros see a shoot up, Tier I and Tier II cities have emerged as the most promising market for residential as well as retail developments. Now, these places experience a sharp increase in property prices which has gone along with increased demand. It has shot up by as much as 40% in the past two years which is believed to be the highest as compared to earlier hike descriptions.

The property boom in Tier II and Tier III cities is further fuelled by the factors like opening up of financial sector, rationalization of income tax and loan policies in addition with well-paid IT jobs. However, the rise in prices does not square with the earning capabilities and is being considered as an unhealthy sign in the long run. Read More »