Mohali Property

There are a number of people who are making investments in property in limited areas (not all places) to get loads of profit, and one such place that has been attracting the potential investors is the Mohali real estate market. Not only Indians, but even NRIs living in different countries such as Canada and United States also want to invest in Mohali, since it's one of the dream destinations for Punjabis who've settled in foreign countries.

Mohali has become a major software hub after Bangalore, Delhi, and Hyderabad. And, hence the demands for residential as well as commercial spaces have increased radically; however, Mohali property rates haven't gone too high quite yet.

Major Projects in Mohali

The capital price for the residential plots in the nearby areas of Mohali ranges between INR 15k to 35k per square yard.

With an ever increasing demand for properties in Mohali, many real estate developers have established luxury housing projects over the past couple of years, paving way for high rate of development in the realty sector.

Bajwa builders are building an integrated township comprising of penthouses, plots, luxury flats, villas and condominiums along with building shopping malls, schools and hospital.

Other major players in Mohali real estate sector are DLF, Unitech, and EMMAR MGF, who have put large amount of shares in many of these Mohali properties.

Sunny Enclave, the integrated township established in the Kharar-Mohali highway, comprises of zones 123 to 125 in Greater Mohali, and it's yet another enticing investment opportunity at the moment.

Sun City Project Company has started the new mega project, covering 22 Lac square feet area in Mohali. They aim to build multiplex, five star hotels and big shopping mall and the price of retail space for rent starts from Rs. 90 to 180 per sq. ft.

Imperial Heights, a complete group housing residential project located in Sector 115 comes with well-planned infrastructure and world class amenities. The elegant complex offers spacious 1 to 3BHK apartments and 3BHK penthouse surrounded by huge gardens.

The basic price of first floor is Rs. 1000 per sq. ft., while on the second and third floor it is Rs. 75 and 50 per sq. ft., respectively. Totally, a 400 sq. ft., 1BHK flat costs 12 lakhs, 1160 sq. ft. 2BHK costs 28.5 lakhs, and 1840 sq. ft. 4 bedroom flat costs 45 lakhs. Additional charges include Rs. 1 lakh for car parking, 20,000/KVA (power backup) and Rs. 50,000 towards club membership.

Real Estate Prices in Mohali

3BHK flats of 1350 square feet at Acme Heights Colony are currently priced at somewhere around INR 35 lakhs. If you look at a 1100 sq. ft. 2BHK flat near Kharar Road, it would cost you somewhere around INR 20 lakhs.

The 900 sq. ft., 2BHK builder floor at famous Mata Gujri Enclave starts at under 20 lakhs, and it's another good investment opportunity, as the prices are expected to rise in the near future.

The 250 square yards individual houses at Chandigarh Enclave sell for well above 1.5 crores, so they're meant for only the rich & famous.

If you are interested in buying educational or institutional land, the cost of such lands is more than 1 crore per acre. The 8550 sq. ft. residential land in Sector 114 costs above 90 lakhs. If you want a 2 BHK flat for rent, it costs no less than Rs. 15,000 per month; hence, if you invest in a good apartment, and rent it out, you don't just get good monthly rentals, but also capital appreciation, not to mention the savings in Income Taxes, as you may set off the interest paid towards loss from house property.

If you are interested in buying educational or institutional land, the cost of such lands is more than 1 crore per acre. The 8550 sq. ft. residential land in Sector 114 costs above 90 lakhs. If you want a 2 BHK flat for rent, it costs no less than Rs. 15,000 per month; hence, if you invest in a good apartment, and rent it out, you don't just get good monthly rentals, but also capital appreciation, not to mention the savings in Income Taxes, as you may set off the interest paid towards loss from house property.

Commercial properties in Mohali have a huge market, and that's why investors engage in mass developments of commercial properties.

To lease a good showroom in Mohali, one needs to shell out Rs 30 to Rs 50 per square feet, and if you intend to buy one in city center, then be ready to invest at least Rs. 4 crores.

Why Invest in Mohali Property ?

Chandigarh located in close proximity, has been the center of attraction for the investors, and the Mohali real estate market rates are also growing in tandem, since some of those investors also look at a piece of Mohali property as a cheaper alternative.

There are a lot of people who invest in Mohali real estate market, aiming to get a fair amount of money back and sell the properties at higher rates when the market prices go up. Looking at the current trends, if you invest today and wait for 4-5 years, then you can be rest assured of at least 50-60% appreciation without an element of doubt.