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Panchkula Retail Market Takes the Right Detour

1 Comment   |   May 4, 2007    03:22pm   |Contributed by Indian Realty News

Retail MarketPanchkula, earlier known to be the poor cousin of Chandigarh, is now a common hunting ground for real estate developers. This planned city falls in Panchkula District, Haryana, India.

Also known as the satellite city of the Union Territory of Chandigarh, Panchkula is witnessing the fastest growth in retailing and real estate. The exponential growth of modern retail in Panchkula is apparently evident from the large presence of glitzy shopping malls, multi storeyed malls, and huge complexes offering shopping, entertainment and food all under a single roof.

Thanks to the investors and property developers, Panchkula is now counted among the most happening places. The city has shown a tremendous potential and spirit for growth, which is why it has attracted the attention of many real estate enthusiasts.

Retailing in Panchkula has grown for good over the years. There is an amazing improvement in purchasing power of people, and that has also one of the motivating factors for big stores and brand set their stores here.

Vishal Mega Mart, a leading hypermarket, has opened 15 stores in 35 cities of the country, but they say to get the best response in Panchkula. The idea behind retailing is to provide people with the best shopping of everything under a single roof. This is a prime reason attributing to increasing popularity of malls which beckon shopping freaks.

Three years back, no one could have thought of such a bright future for Panchkula commercial property which is today making rapid strides towards attaining the maximum exposure.

Also, the closeness of Panchkula to Chandigarh IT Park is a blessing in disguise for many retail players. The affluent employees of IT Park, who prefer to shop from reliable and established outlets, serve as main target audience of the different multiplexes present in the city.

Today, most retailers from Chandigarh are looking to expand out their shells in Panchkula, as the city has ideal infrastructure and technically it is the place where the concept of multiplexes took birth.

News Published Under:   Real Estate India | 1 Comment »

One Response to “Panchkula Retail Market Takes the Right Detour”

Anand Sharma Says:  |  May 5th, 2007 at 4:24 pm  

Certain realignments in the last few years have helped Panchkula to come on par with Chandigarh.