Shopping Malls Swing Property Costs in Chandigarh

Chandigarh’s strategic location makes it a real estate hot-spot of north-India. It’s the nucleus of all business actions for neighboring areas. Historically, Sectors 14, 17, 18 and 22 are widespread for his or her high-street retailing. Whereas Sector 18 and 22 are widespread for {hardware} items, apparels, shoes and many others. Sector 17 hosts high retailer manufacturers and thus attracts a really elite crowd 바나나몰.

Nevertheless, the idea of retailing is altering right here. The appearance of organised retailing has modified the real estate profile of Chandigarh. Presently, the town has small-time shopping arcades like V3S mall, Mega mall, Metropolis Mart and many others. Standard retail house – Ebony – is situated in Sector 9. This multi-product retailer has alliances with Wordsworth, Planet M and Ivory Retailer to cater to area of interest requests like books, music cassettes and designer apparels respectively.

In addition to this, real estate developer Realtech group have began the development of Metropolis Emporio Mall, subsequent to Tribune Chowk. The mall will sprawl over an space of two.5 lakh sq ft and will probably be operational by November 2008.

Not too long ago, the Haryana City Development Authority (HUDA) permitted the development of two malls in Sector 5, Panchkula. Panchkula, although below the Haryana municipal boundaries, is situated close to Chandigarh and serves as an extension of the town.

All these developments, have introduced Chandigarh on India’s retail map. With this, the property charges for industrial areas have additionally hiked. Property vendor PS Kang cites it as a optimistic development. “The appearance of this mall tradition has attracted a whole lot of industrial patrons. Virtually each retail model has its presence in Chandigarh or is within the growth mode right here. And this impacts the property costs instantly and is sweet for the market. This creates a powerful demand available in the market. At the moment 2 acre of business land within the Industrial Space is being bought for Rs 1.5 crore. It looks as if an unfair deal however that is what industrial properties are fetching in Chandigarh.”

Kang has been coping with Chandigarh Properties [http://www.magicbricks.com/property/city/p/p~p!ct~505!/Chandigarh.real-estate] for nearly 12 years now and agrees that this is among the greatest phases for the realty market. With such optimistic indications, one can solely hope that the town’s industrial squares will witness a increase in future.