Chandigarh rises from the North

October 13, 2006	(Be the first to rate this story!)  Loading ...
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The realty boom is not restricted to metro cities any more. Due to some local and general factors, the property value is rising in the non traditional markets like the city of Chandigarh. The prices have continuously appreciated during last four years.

Some of the factors behind the price appreciation being setting up of new technology parks, spill demand over from overcrowded metros like Delhi, falling home loan rates and excessive liquidity because of liberal credit policies. Affluent people are willing to buy independent houses instead of apartment or flats even if it is on the outskirts of the city which is available at the same price of a flat inside the city.

Comfortable, safer, greener surroundings along with medical and educational facilities in the vicinity are in demand.

Ambitious youth inspire realty boom

The other major reason for this property boom is the changed mindset of the young property buyers. Some of them don’t mind taking a mortgage to buy a house. They want to enjoy the present and pay later.

The people in their 20’s want to buy property much advance in their lives. One real-estate consultant tells TIMES NOW, “The prices have increased three fold in last three years.” NRI investments in the city are another big factor.

Premium apartments are coming up in large numbers in the city. According to experts, there is no dearth of genuine buyers and the real estate boom is to continue in the future, as city can’t expand either way. The city is to deliver a lot.

Source: http://www.timesnow.tv/articleshow/2160180.cms

News Published Under:   Real Estate India, Chandigarh |

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