In Chandigarh residential property demand is high for 5-10 marlas in both the plot and the constructed house. The value of a 5 marla old constructed house is around 70 lakhs whereas for 10 marla it is around Rs.1.25 crore and for 1 kanal it is around Rs 2.5 crore.
Plots in Chandigarh
Considering the flats, rates vary from location to location and from project to project. Taking the example of MDC (Mansa Devi Complex), Panchkula, the property rates are Rs. 31,000 per square meter and a 3 bed room flat would cost around Rs. 40-60 lakhs.
Floorwise Rates of 10 Marla house in Chandigarh
The availability of flats in Chandigarh is limited to Sector 41 to Sector 49 only. These are the Society Flats which are categorized as LIG, MIG and HIG. These are again divided into lower and upper categories. The rates of these flats per category are given in the table. Old constructed house means the construction of which is more than ten years old. New constructed house means the construction of which is less than ten years old
Flats in Chandigarh
The availability of plots in Chandigarh is very limited and in some areas is almost negligible. For instance 5 and 10 marla plots are not available in the northern sectors of Chandigarh. Also 10 marla plots are rarely available in the southern sectors.
The demand for 5 and 10 marla plots is the maximum in Chandigarh but due to limited availability, the rate per square yard of these plots is the maximum. The Chandigarh market scenario related to residential plots is very limited. There is more demand but less supply.
Hence the rates are high as compared to the residential plots in the periphery of the tri-city like Kharar, Banur, Zirakpur and Dera Bassi. As a result due to lower rates and ample availability the shift is towards these areas.
Popularity: 7% [?]