With factors like urbanization and government programs like Smart Cities Mission and All Housing By 2022, the real estate sector is booming in many of the country's major cities, as well as in many Tier-II cities. Mohali is one such town. Located near Chandigarh, Mohali has a high living quotient, superior relation, the inflow of IT-based firms, and comprehensive commercial investment possibilities, rendering it among the developing cities in the world. Mohali is now a busy commercial hub originally a bunch of villages and a satellite town in Punjab and it is expected to be further built through the efforts of the Greater Mohali City Development Authority and the government.
Work and prospects for investment in Mohali:
Mohali has many work openings to many, also known as SAS Nagar. The State Government will open up doors for improved potential jobs prospective in Mohali to projects like “Ghar Ghar Naukri”, along with investment preparations by many IT firms and other multinational enterprises.
The Mohali platform draws many developers and investors to invest in this market. Mohali has already developed itself as a desirable destination for business developers with vast land plots and improved infrastructure as the main points. Many businessmen and traders in large numbers plan to set up business here. In addition, the thriving Mohali retail market is another important factor in creating a steady demand for real estate.
The Connaught Plaza is a forthcoming initiative that offers investment space and welcomes leading supermarket brands. The actual picture of Mohali is also growing in world-class ventures like the World Trade Center.
Growing demand for housing
Mohali's thriving trade segment has resulted in its residential sector rising. Additionally, the funding of the Greater Mohali City Development Authority (GMADA) by different housing schemes helps to fulfill the urban residential demand.
Apartments here are available at an average price of Rs 3,200 per square foot, for those searching for an apartment in Mohali. For an initial price of Rs 25 lakh, basic 1BHK home of 700 sqft can be purchased. Apartments with 2BHK arrangements of 980 sq.ft. have a Rs 30 lakh average price. 3BHK apartments of 1.200 sq ft have an Average Rs 35 lakh price, while Lavish apartments prices range from 1500 sq.ft. to 2000 sq.ft., from Rs. 80 lakh to Rs. 1.3 Crore. Rent for 2BHK self-catering property in Kharar, Mohali starts at Rs 15,000 per month.
The main localities that are experiencing good requirements and a significant number of housing projects are Zirakpur, sector 115 Mohali, sector 126 Mohali, and Mullanpur. In the last few years, these neighbourhoods have also seen a good price increase. Gazipur, the airport road and GMADA Aero City are other areas worth investment.
Infrastructure and communication
In terms of warmth and proximity to key areas, Mohali is an asset. Quick access to Chandigarh and the neighbouring cities of Ambala and Delhi via a 200-foot ring road and a rail link. Mohali is also a viable investment option because of the upcoming international airport. The Chandigarh Metro Rail metro, once operating, will boost citizens' travel experience.
Final Words
Mohali has been Tricity’s growth centre in the past few years, in particular in the peripheral zones of Zirakpur, Kharar and New Chandigarh (Mullanpur). Mohali is also a busy educational centre with a significant number of prestigious technical studies in academic institutions. The ISB, the Chandigarh Business School (CBS), the National Institute for Pharmaceutical Education and Research and other law and medical colleges, are among these. These include the ISB. Mohali is renowned for its cricket stadium and provides other big social facilities such as the finest in the health centres, more than 90 schools and plenty of shopping malls, cineplexes, restaurants and department stores.
