Real estate developments in Kharar
Kharar is a fast developing city and a municipal council, situated in the Mohali district of Punjab. The city includes a number of colonies that are approved by Greater Mohali Development Authority. Prominent among them are Shivalik Enclave, Gillco Valley, Model Town and Sunny Enclave.
Connectivity
Kharar lies in proximity to the NH 21 that connects Chandigarh with Manali, and is connected to Ferozepur through the NH-91. Kharar is linked with Landran, which is one of the popular localities in the city, through the Kharar-Landran road. The city is also linked with the state highway 12A near Landran. The Kharar railway station further enhances the connectivity between the city and other localities in and around the state.
Real estate growth
Kharar, lying in proximity to Chandigarh, is witnessing rapid infrastructural development. This is luring developers, builders and investors to the area. Good connectivity to Mohali and Chandigarh, and proximity to a number of reputed educational institutions including the Chandigarh University, GGS Polytechnic, Doaba Pharmacy College, Arya College and Govt.Polytechnic college, have added to the reasons of real estate growth in Kharar. Guru Nanak Multi Speciality Charitable Hospital, ESI Dispensary, Kaushal Hospital and Dr.Bedi’s Dental Hospital are some of the reputed hospitals and clinics in the area.
Bajwa Developers Ltd. is one of the most prominent developers in Kharar, which has already launched a number of residential projects in the city. The firm has launched projects named Bajwa Sunny Enclave and Bajwa Whispering Villas, which feature 3BHK and 3&4 BHK villas in Kharar. Some of the residential apartment projects by the developer include Unique Towers Aujla, Paradise Apartments, NRI Apartments, Amazon Towers and Maple Homez.
Size and price of apartments
The size of of 2 and 3 BHK apartments range from 1000sq.ft to 1150 sq.ft. and 1750-2100 sq.ft., respectively. While the sale price of a 2BHK
ranges from 26 lacs to 28 lacs, the same ranges between 50 lacs and 62 lacs, for 3BHK apartments in the region.
Price Trends
At present, multi-storey apartments are sold at about Rs.2600/sq.ft in Kharar. When compared with the second quarter of 2013, the area witnessed an appreciation of about 8% during the third quarter of the year. While the sale price of apartments was about Rs.2450/sq.ft during April-June 2013, the same rose to about Rs.2600/sq.ft, during July-Sept 2013.
The sale price of residential plots saw a fall of about 20% during the third quarter of 2013, when compared with its second quarter. During April-June 2013, the sale price of residential plots in Kharar was about Rs. 21900/sq.yard. The same dropped to Rs.16800/sq.yard, during July-Sept 2013.
