The real estate prices across India have become unaffordable. The rising inflation, delay in approval process, increased labor cost and higher cost of land acquisition has meant that the property prices will not come down any time soon. Even though the price increase may be sedate on account of rising inventory of unsold flats, price decrease seems almost impossible. Therefore, buyers have no options but to either look for outskirts of tier 1 cities or opt for city centers of tier 2 and tier 3 cities. The better option however is tier 2 and tier 3 cities like Chandigarh and Mohali. Not only do these places offer excellent standard of living but feature robust social infrastructure, sound civic amenities and provide outstanding connectivity.
People in most leading cities including Mumbai, Pune, Delhi, Noida, Gurgaon, etc. cannot even afford to buy 1 BHK flat as the cost of these apartments in good projects can vary anywhere from 50 to 100 lakh rupees depending upon the location, facilities, age of property, size, orientation, etc. On the other hand, people can easily purchase 3 bhk flats in Chandigarh at 50 lakh rupees or even lesser in good location with best in class amenities. For complete information on some of the best 3 BHK flats in Chandigarh people can refer to Housing.com, one of the most preferred property websites in India. Investing in Chandigarh properties offers several benefits including but not limited to:
Outstanding return on investment
Over the years, the realty investments in Chandigarh have fetched returns on par with some of the leading cities of world. The average annual return over the last 3 decades here has been in the range of 10% plus for most localities and across most asset class – residential, commercial, hospitality as well as industrial segment.
Offers sustained rental income
Increased industrialization here has given way to mass scale immigration that has led to huge demand for rental homes. Hence, by investing in 3 bhk flats in Chandigarh people are assured of sustained rental income. What’s best the rental income appreciates by an average of 10% year on year and also offers high capital appreciation over medium to long term!
Provides much needed diversification
In addition to the points mentioned above, real estate investment in Chandigarh is also great from the diversification point of view. Historically, property investments here have been immune to both global meltdown and domestic issues. Thus, it makes great financial sense to invest in Chandigarh properties and prevent the portfolio from any unforeseen drawbacks of broader financial market.
Requires lower investment
Last but not the least, investing in Chandigarh properties requires lower initial capital as compared to most other cities of India. This has not only increased the liquidity factor in the region but has also led to increased participation of masses. Both end users as well as investors are now actively participating in the market and the coming years will certainly see Chandigarh amongst the top 5 cities of India.
Leave a Reply
You must be logged in to post a comment.