5 reasons to purchase a property in new Chandigarh

5 reasons to purchase a property in new Chandigarh

1. Chandigarh Extensions Offer Affordability: Newly developed areas and expansions around the Chandigarh district, collectively known as New Chandigarh, offer property in Chandigarh, options at relatively affordable prices although capital values ​​in urban areas have reached saturation though the new locations have lower entry prices that are likely to increase over time.
2. Strategic Location for Connectivity: Stations like New Chandigarh Mullanpur and Zirakpur are conveniently located near national highway junctions, and provide good connectivity to nearby cities Chandigarh's proximity to the airport and upcoming metro network also improves accessibility . 
3. Social Infrastructure Expanding: Several educational institutions, healthcare facilities, shopping centres and other social services are coming up in new areas around Chandigarh. This makes the property in New Chandigarh a future ready investment that increases the occupancy rate.
4. Take Advantage of Price Appreciation: New real estate in emerging markets often sees high end-user demand, rapidly increasing capital rental prices due to limited inventory and investors can have benefited by visiting these areas early before prices rise sharply.
5. Leverage Area Developments: Eco City and other master planned areas offer services and amenities comparable to cities at affordable property prices. The integrated urban area of ​​New Chandigarh also provides its residents with future developments such as commercial infrastructure, extended roads and transport services.

Pros and Cons of Buying a Property in Chandigarh

The pros and cons of property ownership in Chandigarh, reflecting the nuances of real estate in Chandigarh– 

Pros:

• State-of-the Art urban infrastructure and utilities.

• Green made and spacious with gardens and parks all around for hearty ventilation.
• Tight pollution control and good air quality.
• OSB is the holding company of 3 different banks - one in tricity and other in various states of the country.
• Rental income return can be high and capital gains are expected in the future.
• Card schools, hospitals, and other vital services.
• Secure as the crime rate is low.

Cons:

• Metros have got more entertainment choices but here it is limited.

• Cost of living is more than that in other cities.
• This pricing can arise due to the issue of small inventories.
• Bureaucracy and red tape may seem to exist in some civic processes.

Why To Buy Property in New Chandigarh?

Additional Land Availability: Latest developments and extensions in New Chandigarh incorporate more land availability for homebuyers interested in a house for sale in Chandigarh, thereby making it possible for them to have a range of options to choose from.

Proximity to Prime Sectors: These locations are in the vicinity of the commercial zones of Chandigarh but are also priced lowly which makes them affordable.

Improved Connectivity:

• Broad roads help travel become comfortable and efficient.

• The development of the metro network creates more commuter transportation avenues.
• Guarantee accessibility by locating close to the international airport, which also increases the area desirability.

Developing Social Infrastructure:

• Public schools and educational organisations are being founded.

• Hospitals and healthcare facilities are considered.
• Commercial ventures and shopping areas are being set up which is adding to community life enjoying renaissance, similar to the experience of those looking to buy a home in Chandigarh.

Investment Opportunity:

• The supply of homes is often limited during this phase, and therefore buying places in these developing localities early gives prospects for significant capital appreciation when the area progresses further.

• It is a chance for either the end users who are looking for housing or for investors that want to make long-term profits.

What is the Circle Rate of Property in Chandigarh?

Under the Chandigarh Development Authority, property, including flats in Chandigarh, has an official value called Circle Rate.

• Variable Circle Rates: The circle rates in Chandigarh vary, in regard to the sector and the property type.
• Rate Range: Typically, it varies from ₹35,000 to ₹85,000 as per the local area and section.
• Higher Rates in Central Sectors: Circuit rates peak at the central region (like Sector 9), topping all other sectors.
• Lower Rates in Newer Sectors: New areas have relatively small circle rates making them possible substitutes to existing ones.
• Periodic Revisions: The circle rates are often updated by the local administrator to make them reflect the actual market rates.

Which is the richest area in Chandigarh?

1. Northern Sectors as Prime Areas: These areas from Sector 1 to 6 and 8 to 12 in the north, known for having flats for sale in Chandigarh, are the most wealthy.

• High Property Rates: In the city one will find the real estate sector with the highest rates.
• Large Houses: This area is also about huge, luxurious homes.
• Proximity to Major Establishments: This sector is close to the most vital city stations, which makes it even more attractive and desirable.

2. Sector 5 - 'Beverly Hills of Chandigarh': Sector 5 is one of the places most known as the centre of wealth accumulation in the city, which is often compared with Beverly Hills, the city’s top denizen.

3. Southern Sectors and Sector 16: The most posh locations are the sectors around Punjab Governor's house and the Institutional area in Sector 16 whereas Chandigarh is also considered posh.

Top Tourist Attraction in Chandigarh ?

• Rock Garden: A new garden of art and sculpture made from industrial and domestic waste, akin to the innovative spirit seen in those looking to buy a flat in Chandigarh.

• Sukhna Lake: A tranquil man-made lake, perfect for a leisurely and relaxing walk.
• Rose Garden: Known as the largest rose garden in Asia, with more than 1,500 varieties.
• Chandigarh Capitol City: A UNESCO World Heritage site showcasing the architecture of Le Corbusier.
• Open Hand Monument: A symbolic structure representing peace and harmony, designed by Le Corbusier.
• Sector 17 Plaza: Vibrant shopping and dining with a festive atmosphere.
• Zakir Hussain Rose Garden: Named after the former President of India, this garden showcases an extensive collection of roses.
• Terrace Garden: Beautifully landscaped garden famous for its flower beds.
• Butterfly Park: Home to over 1,500 butterflies, a variety of butterfly species are displayed in nature.

What is the property transfer fee in Chandigarh?

Property transfer charges in Chandigarh have several features, detailed as follows, reflective of the market for apartments in Chandigarh.

Stamp Cost:

• 5% for male shoppers.

• 4% for women buyers, promoting property ownership among women.

Transfer services:

• The Chandigarh Housing Board has imposed a fee of 2% on the properties under its jurisdiction.

Types of Creation:

• Additional registration and paperwork fees apply.

All Delivery Codes:

• Total asset transfer fees average around 8%, including all fees and charges.

Where is the best place to buy a plot in Chandigarh?

The best places to buy land in the Chandigarh region, known for Chandigarh homes for sale, offer a mix of affordable prices, connectivity and thriving infrastructure. Here is a summary:

• Naveen Chandigarh Mullanpur - Known for circular pricing and low price per square foot, making it an affordable option for land buyers.
• New Chandigarh Zirakpur offers affordable plots with advantages over a well-connected, thriving social structure.
• Eco City-1 and 2: Designed with modern living in mind, these planned expansions offer affordable plots compared to urban areas.
• Special Amenities: All these areas are equipped to facilitate a normal life.
• Connectivity: It is well connected by road to the rest of Chandigarh and surrounding areas, making it easily accessible.
• Development of social services: Progressive development of schools, hospitals and shopping centres increases the attractiveness of these areas as places to live, much like the allure of a house in Chandigarh.