MOHALI – City of Future

Mohali is best known as the city adjacent to Chandigarh. It owes its popularity to a great extent to the famous city of Chandigarh situated just next to it. Its proximity to the famous city of Chandigarh has played a major role in asserting its name and fame in the map of India. It can be conveniently looked upon as an extension of Chandigarh. But its very existence under the shadows of Chandigarh does not do much harm to its unique identity.

Real estate development is a lucrative prospect in this city as can be gauged from the lining up of several real estate majors. Some beautifully designed projects, worthy of mention, are Acme Heights Apartments, Ansal Orchard County, Ansal’s Exclusive Floors, Comfort Homes, Emaar MGF The Views, Emaar MGF The Villas, GBM Apartments, Gillco Valley, Sunny Enclave, TDI City and Westend Enclave. Key property builders operating around this region are Ansal Properties and Infrastructure, Bajwa group of Companies, Emaar MGF, Pearls Infrastructure, Som Dutt Builders, Unitech Limited, Taneja Developers and Infrastructure Limited and Janata Land Private Limited.

Land/plot rates in some of the localities will give us a fair idea of the property price trends in Mohali. Land prices in Sectors 48 to 66 varies from Rs. 25000-30000/sq. yrd; in Sectors 70 and 71, it is Rs. 25000-35000/sq. yrd; in Sectors 90 and 91 Rs. 15000-17000/sq. yrd. In Sectors 67 and 68 and Sectors 74 to 80 land prices are on the higher side ranging from Rs. 25000-35000/sq. yrd. While Sectors 86 and 100 to 119 offer plots at much cheaper rates of around Rs. 10000-15000/sq. ft. Kharar Road offers a very wide range of Rs. 7000-20000/sq. yrd. Sectors 81 to 84, 88 and 89 offer plots at Rs. 15000 to 20000/sq. yrd. Sector 97 comes cheap at Rs. 12000-17000 whereas Sector 85 at Rs. 25000 to 35000. Apartment rates at a couple of places has great variations, for example, at SBP Homes is around Rs. 1500/sq. ft. and in Mayfair Apartments is about Rs. 4200/sq. ft.

A quick look at the developmental activities in this city states that the regions undergoing rapid facelift are around the Kharar-Chandigarh Road and Kharar-Landran Road. The areas under the focus from the infrastructural point of view are around the Mohali International Airport, the Mohali Phagwara Expressway and Mohali Ludhiana Expressway.

The city of Mohali has been rated by the Augtics research team as holding moderate prospects from the real estate investment point of view.