Chandigarh Sets Examples for Other Emerging Boom Towns

June 28, 2007	(1 votes, average: 3 out of 5)  Loading ...
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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.

Taking a view at boomtowns of tomorrow, the data for India’s emerging growth centres has come up with 15 cities. They all enjoy low real estate cost, large availability of land for development, big workforce, and increasing quality of life.

There are certain key parameters to judge the growth of any city. It includes its property market, people, physical infrastructure, social infrastructure, and business environment.  Among all the emerging cities, the city that has been witnessing hot real estate trends is Chandigarh. Touted as India’s first planned city, Chandigarh has got top ranking for the potential of its property market, the city is known to have come up to the mentioned criterion.

Chandigarh is undergoing through the boom because of the rapid development taking place on its outskirt areas. Panchkula, Mohali, Dera Bassi, Zirakpur are some of such areas.

Following in footsteps of Chandigarh is Nagpur, a city which has seen fast growth in both commercial and residential real estate. Making efforts to improve the city’s infrastructure, Nagpur has the capacity to transform itself into a much preferred destination, especially in terms of educated manpower, and availability of land for development of large campus.

News Published Under:   Chandigarh |

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