Real Estate Properties in Mohali

Mohali is a city situated adjacent to Chandigarh, the common capital of the northern Indian states Punjab and Haryana. In later half of 2012, it was named after Sahibzada Ajit Singh, the eldest son of Guru Gobind Singh, and called Ajitgarh. Today, it’s famously a part of the Chandigarh Tricity, the two other cities being Chandigarh and Panchkula.

Besides being a city in Punjab, Mohali is also the administrative district of the state. Initially, it didn’t have any unique element in its city planning. The city of Mohali was designed based on the successful plan of Chandigarh’s. The city, just like it neighbor was divided into identical sectors of size 800x1200m.

Starting from the 1980s, however, a new development pattern began to emerge in the city. The Punjab Urban Planning and Development Authority played a stellar role in the development activities in Punjab. Now, the Greater Mohali Area Development Authority (GMADA) has taken over the mantle of development.

Today, the rich investment opportunities offered by the city attract an increasing number of outsourcing IT organizations. And that’s opening up the real estate sector in the city to people and organizations from across the country and abroad.

Stats And Facts

• The population of Mohali, according to the provisional reports of the Census India 2011, is 1,46,104. The urban/metropolitan population is 1,76,152
• As per the same reports, Mohali has recorded a sex ratio of 911 per 1000 males. The child sex ratio is 886 per 1000 boys. Both these numbers are below the national average
• Mohali’s average literacy rate is excellent, at 93.22%. This is well above the national average literacy
• Initially, Mohali was built as extension of Chandigarh, because of the housing strain experienced in the latter. Although Mohali has been overshadowed by its more popular neighbor for much of its past, it’s now opening up as an attractive destination for IT organizations

Tertiary Sector

• Mohali is fast growing into a house for multinational corporations from across the country and abroad
• Infosys has its development center located in the city. International giants like Philips, Dell, and Semiconductor Complex Limited also make their presence felt in Mohali
• Quark Inc., a Denver-based firm has created QuarkCity, a city replete with all the necessities of modern life, besides the obviously massive residential complex. It’s expected that this project will create 25,000 direct and 1,00,000 indirect jobs. The QuarkCity also features a Special Economic Zone (SEZ)

Connectivity

• Mohali doesn’t have an airport and train station of its own. To reach Mohali, one traveling by air or rail needs to get off at Chandigarh and then proceed to Mohali. Chandigarh is well connected by rail and air to all the major cities across the country, and so reaching Mohali is never a problem
• The city is also very well connected by road. It’s just a 4-5 hour drive from New Delhi, connected, for most part, by the NH 1. Popular mode of transport in this region is the cab, or of course any car. The route is quite scenic
• The Sector 43 bus terminus in Chandigarh serves Mohali. Although located in Chandigarh, the terminus is situated just 2 km from Mohali. All buses to Punjab and Haryana stop here. The Sector 17 bus terminus has buses moving to and from Delhi

Mohali Civic Administration

• Mohali is a municipal corporation, with elections for the General Body held regularly
• Mohali falls in the S.A.S. Nagar district in Punjab. This district comprises 414 villages
• An Indian Administrative Service (IAS) officer is made in-charge of the district and called the Deputy Commissioner

Mohali Infrastructure

Mohali has been witnessing plenty of infrastructure development in the city, especially in the form of residential development. The power resources are in place in the city, and so are the other basic facilities. The law and order situation in the city is also very encouraging. All this means that Mohali, today, doesn’t play second fiddle to Chandigarh. It has carved its own identity, with infrastructure development heading in the right direction.

Infrastructure Projects

Mohali Real Estate Market

• The increase in property rates and the fast depleting space in Chandigarh are pushing investors and potential residents towards Mohali. The typical section of buyers comprises employers and residents, including NRIs
• The real estate market scenario for both residential and commercial property in Mohali is positive. The market is bullish, with more and more people investing in the city
• Foreign Direct Investment (FDI) is also growing in Mohali, thanks to the clear and transparent registration norms, easy access to finance, and other positive steps taken by the government
• The real estate project work undertaken in the city, and also those are that are in the pipeline, together make for a rich investment of about 3 billion dollars. Many of these projects are aimed at making Mohali the most prominent IT hub of north India

Key Localities In Mohali

Charges By Government Bodies

Property Registration

Stamp Duty

• For Male Owners: 7%
• For Female Owners: 6%

Property Registration Rates (Collector Rates)

• Sectors 1 to 11 and 66 to 71: Rs. 24,000 per sq. m.
• Sectors 76-80: Rs. 22,000 per sq. m.
• Commercial Property: Rs. 1.2 lakh per sq. m.

Punjab State Power Corporation Limited (PSPCL)

PSPCL is responsible for the generation, transmission, and distribution of power across the state of Punjab.

Power Tariff

Punjab Water Supply And Sewerage Board

The Punjab Water Supply And Sewerage Board (PWSSB) is responsible for the supply of water in Punjab, including in Mohali. On a higher level, the Government of Punjab has a Department of Water Supply and Sanitation that looks into the component of water supply throughout the state.

Water Tariff

For Houses

• Up to 5 marla: Rs. 70 per month
• Above 5 marla to 10 marla: Rs. 100 per month
• Above 10 marla to less than 1 kanal: Rs. 130 per month
• 1 kanal and above: Rs. 3.5 per kiloliter per month