Explosion In Tri-city Property Market
In the past decade, the Tricity real estate market has seen tremendous growth of 50% from the past decade. The market is still booming because of several factors, such as globalisation, NRI investments, infrastructural development, modernisation, seamless support from the local governments, etc. The tri-city real estate market is providing promising returns on investments to the domestic and NRI investors, and that is why more people are taking an interest in buying properties in Chandigarh, Mohali, and Panchkula.
In fact, investors are buying properties in the outskirts of these cities, such as Greater Mohali, New Chandigarh, Peermachalla, and Zirakpur. These are the prime real estate locations in the Tri-city that can offer you higher market value for your property, and better rental income. Let’s discuss how the Tricity real estate market in North India is showing impeccable growth because of the infrastructural development, and NRI investments.
Key Growth Factors
Several factors are responsible for the growth and development in the tri-city and its territory. The real estate sector in this region of North India has shown unexpected demand and growth. One of the market studies predicts that the Tri-City real estate market will reach a billion-dollar business by the end of 2025. If you want to cross-check all the latest updates about the real estate market in India, you can visit and explore an authentic real estate property portal.
1. Employment & Economic Growth
In the past two decades, the rise in employment rate and economic growth has empowered people to plan and invest in the real estate sector for long-term benefits. If we consider the statistics of the North India region, it has shown amazing results. The demand for different types of real estate products has increased, and so has the buying power of Indian families. In fact, people are investing in new properties to settle down with their nuclear families.
2. Futuristic Growth & Confidence Of Investors
Because of the continuous development and growth in the real estate business, buyers, investors, and giant retailers are confident enough to invest in different real estate projects. They are strategically investing in the industry, and getting short-term and long-term capital gains out of it. Many developers and builders are working on futuristic development in the field of infrastructure & construction in Tri-city.
3. Government Schemes & Easy Home Loan Options
All three Chandigarh, Haryana, and Punjab governments are introducing innovative residential schemes. In fact, people are getting benefitted out of the Pradhan Mantri Awas Yojana (PMAY). The premium banks have cut their interest rates on home loans to provide ease to people interested in buying properties in the tri-city. Recently, the RBI has announced a considerable cut in the Repo Rate for different public sector banks, resulting in lower home loan EMIs.
4. Hotspot Locations
The hotspot locations like New Chandigarh, also called Mullanpur, have set a growth mark in the real estate industry. It has shown a collective growth of more than 70% in the real estate market. The demand for land-based and residential properties has risen like never before. The market value of properties in this location is rapidly increasing. Big profiles like, doctors, lawyers, magistrates, MLAs, business owners, and big players in the market are investing in this area.
5. Infrastructural Plans & Developments
Tri-city is having big projections streamlined to make the environment of this trio more comfortable and livable. The futuristic projects, like metro lines, flyovers, wider roads, green zones, public parks, entertainment zones, and more visitor places, are under consideration. The local government is playing a crucial role in providing all the possible support, swift approvals, sanction of the budget, etc. All these factors are drawing the attention of NRIs, and they are investing in the Tri-City to have a second secure home in the country.
6. NRI Investors
The NRIs (Non-Resident Indians) are living far away from their home country, family, relatives, and friends for their better future. But they are now investing in India to stay connected with their keenness, and cultural values. Tri-city has attracted them the most because of its environmental conditions, mobility options, infrastructural development, technical upgradation, government support for NRI investments, and other related factors. The increase in NRI investments in the real estate sector has contributed to the economic growth of the region.
7. Planned Structure & Urban Development
The tri-city is famous for its planned urban development, and higher standards of living. Cities like Chandigarh in India have earned several recognitions worldwide due to their cleanliness, clear weather conditions, high-quality lifestyle, peaceful environment, unmatched rules & regulations, and projected continuous development plans. Tri-city is divided sector-wise, and it makes it more convenient for its residents to locate locations within. The interconnectivity and mobility options make it more convenient for people to travel from one city to another seamlessly.
8. Premium Class Luxury Homes
Many famous builders and developers are constructing and offering premium-class luxury homes at an affordable price range to the residents of the tri-city and NRIs. These highly upgraded residential homes with advanced features and modern amenities have raised the bar of living standards in the Tri-city. The NRIs are investing in the premium homes within the tri-city, and in the outskirts of these cities. If you wish to invest in such properties, get in touch with our team, and we will work out your dream home within your budget.
Conclusion
The real market is growing, and so are the people financially due to higher returns on investments and sustainable rental incomes. The local buyers and NRIs are getting benefitted out of such investments, and making their investment plans profitable for themselves. The climate of the Northern region in India is favourable for the long lives of properties in Chandigarh, Haryana, and Punjab. If you are an NRI and you want to invest in the tri-city real estate market, then you can hire us for quality results and a professional approach. We will put our expertise, experience, industrial knowledge, and professionalism into the process to work out a better product that will offer you higher market value for the property.
