Ajitgarh (Mohali) Real Estate Overview
Ajitgarh, formerly known as Mohali, is part of the Tri Cities- Chandigarh, Mohali and Panchkula. The city is renamed after the eldest son of Guru Gobind Singh, Sahibzada Ajit Singh. Later in 2012 the name was shortened to Ajitgarh. It is famous for being a commercial hub lying adjacent to the city of Chandigarh in Punjab. The city has been planned identical to Chandigarh’s sector design (800-by-1200m). There are many scopes of future development in outer sectors, for example, sector 62 is earmarked for a future commercial City Centre. Its proximity to Chandigarh makes it a suitable choice for commercial and residential development.
The recent master plan (Master Plan Report 2006-2031) has been approved in which, area has been extended up to 114 sectors. Its proximity to Delhi is encouraging the city for becoming a viable and most preferred option for multinationals, BPO and IT companies and other industries. The government proposes to make the city an IT center, many have already gone ahead and made enough investments giving a boost to the real state in the city.
Real estate overview:
Due to diminishing space in Chandigarh, there is a wide range of buyers (employers, traders, residents including NRIs) in Ajitgarh property market, maintaining its higher property rates. In real estate market, the trend of buyer’s investment is diverted toward the future real estate development opportunities in further extended sectors of the city.
The property rates in the city and Greater Mohali are expected to get positively impacted due to the improved internal road network and demand generated by companies located in sector 72-75. The proposed site for airport extension will impact the prices positively in Zirakpur, Mohali and Greater Mohali. Investment in real estate market of the city will assure to give definite benefits to buyers.
Upcoming projects:
A whopping $ 3 billion has been invested in the market to boost the real estate projects in and around the city. The idea is to bring this city up to such a level from where it shall become equally advance like Chandigarh.
The Suncity Projects Pvt. Ltd. has announced a mega project covering 22 Lac sq. ft., it consist of Five Star Hotel, a multiplex and a mega shopping mall. The rent for retail space in this mega projects is proposed at 90 INR to 180 INR/sq. ft. per month.
There are many IT companies and educational institutes like Infosys planning to add more training development centers in and around the city ( to achieve the dream to be an IT hub).
