The sleepy town of Mohali will soon be on the glam map owing to the Indian Premier League (IPL) Cricket. The city is bracing up to witness new development and world-class infrastructure since it will soon host the IPL matches. This development has brightened up Mohali’s property prospects as well.
Mohali real estate is already a very exciting market. Town’s proximity to Chandigarh is a booster to its real estate sector. People, who want to escape from the hustle-bustle of Chandigarh find a refuge in Mohali, which offers equally good infrastructure at affordable prices. And IPL will see a further rise in Mohali’s property demand.
Ashish from Acres and Acres property firm feels that Mohali and Chandigarh properties are already sought after. He says that all Punjabi NRI s and others who work in Chandigarh and neighbouring areas like Bhatinda, Ludhiana and Amritsar want to settle down in Chandigarh. “Chandigarh is fast becoming a metropolitan. The city has been tagged as the best city to live and also has highest per capital income in India. It has good infrastructure and good facilities. Hence NRI and even people from the cities and villages of Punjab want to buy land here. Now, property is becoming scarce in Chandigarh and this is driving people to neighhbouring areas like Mohali.”
The land prices are high there. Presently, the plot values ranges between Rs 27,000 and Rs 32,000 per/sq yards. Ashish predicts that this value will only escalate further. “Land prices will only go up. IPL has added a tinge of glamour to Mohali. Already people wanted to buy land here and now lot of developers and big groups will also pick up land banks here. IPL is good news for the realty segment,” he concludes.
Another real estate agent, Sameer Mehan feels that IPL will help boost up the local infrastructure as well. He feels that Mohali is already up-market. The city will spoon have an international airport. He says, “Mohali is what Chandigarh was ten years ago. The local infrastructure and real-estate are undergoing a make-over there. And IPL is just an icing on the cake. It will do wonders for the realty segment there,” he asserts.
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