Homely Investments on the Best Residential Spaces in Chandigarh
Buying a property always requires a lot of research and time. It is one of the capital intensive decisions that we take in our lives and therefore thorough know-how of the property market is the primary criteria.
However, not every one of us could be an expert in identifying the right property in the right location. This unawareness leads us to the brokers who again would charge some amount for their commission making the whole affair a pricey one. At times we even exceed the budget planned for purchasing the property. The reason being, we do not include the cost of registration, broker’s commission and so on while estimating the budget. Let’s cut the hustle to some extent and understand major factors that one should consider while selecting apartments in Chandigarh or elsewhere in India.
Residential or Investment
This might look like a futile consideration to some because be it residential or Investment, we need the facilities around the apartment that we are purchasing. Someone who buys the property for investment would not go for a property that is far from the basic amenities. It is because the properties surrounded by all the amenities fetch higher resale value. Fair enough, but the point is that you might not want the amenities immediately. Let’s just say, you bought a property in the area where the Government has proposed Metro Station, Hospitals, Shopping malls, and other amenities. All this would take next 5-8 years to complete, thus pegging the value of the property higher. This could be an excellent choice of property from the investment point of view. However, if you are looking to buy a flat to move in immediately, then waiting for 5-8 years might not sound very feasible and lucrative.
Property Market in Chandigarh
Various data suggest that the price of a 2 BHK in Chandigarh is somewhere close to 50 lakhs. If you are looking for 3 BHK then the price could go northwards up to 1 crore. Obviously, when you are looking for over 3 BHK, the price would move somewhere close to 2-4 crore.
Talking about the localities, the major ones are Dera Bassi, Madhya Marg, Zirakpur, Panchkula, Chandi Mandeer, and Sector 15 and so on. Now, for someone who wants to buy a 1 BHK flat and the budget is around 10-15 lakhs, Dera Bassi could be one of the preferred choices. Similarly, for 2-3 BHK and the budget band between 25-75 lakh, areas such as Zirakpur, Panchkula, Mohali Sector 125, Kharar Mohali are viable options.
Must Read: Flats in Chandigarh – Live In the City Of Architecture
Right Time to Invest In Chandigarh?
As we all know that the property market is sluggish in the major cities such as Chandigarh, Bangalore and other Metropolitan cities. While those who are looking to invest in properties from an investment point of view could argue that they are not seeing substantial return in the near future if you are looking for a property in Chandigarh for residential purpose, there are some really good options available. Given, the slow-down in the market you might get really good bargains for your budget.