Mullanpur, also called New Chandigarh, is a small town on the outskirts of Chandigarh. It gets its name from Garibdass, who founded the town. It’s an upcoming area, with many progressive planned developments like non-polluting industries and world-class hospitals.
Greater Mohali Area Development Authority (GMADA) has designated Mullanpur as an eco-city. Plot allocation and land acquisition is already underway. The town will be made up of 32 villages. Besides the GMADA, other developers like DLF, Omaxe, and Altus have also initiated large projects here. It’s going to be a low density development region with around 1000 people per acre.
Connectivity and Transit Points
Mullanpur is connected to Chandigarh by DLF Mullanpur Road and Kurali Chandigarh Road.
Mullanpur’s proposed road networks are being planned keeping in mind development over the next 50 years. Four major roads will connect the town with Mohali, Chandigarh, Panchkula, Zirakpur, Baddi, Kharar, Sirhind, and the Mohali airport.
Two metro stations and one junction are set to come up in the area. This metro system will be connected to the planned Chandigarh Metro, which is expected to be operational in 2018.
While the nearest railway station, Chandigarh Junction, is around 17 km away, Chandigarh Airport is at a distance of 19 km from here.
Currently, most transit points are located in the main Chandigarh area, with a few bus stops in the Mullanpur area.
Dhanas Bus Stop
Factors for Growth in the Past
The main factor fuelling growth in Mullanpur is the proximity to the city of Chandigarh and its satellite towns, many of which are close to reaching the saturation point, both in terms of population and real estate. With land prices soaring in Chandigarh, Mullanpur is quickly becoming an attractive option for developers and investors alike.
Residential and Commercial Market
Residential Market Trends
The real estate market in Mullanpur is dominated by independent houses and flats. A large percentage of the area is still under development.
Buying price can range from Rs 100 per sq. ft., for plots in Mullanpur , to Rs 30,000 per sq. ft. for premium housing.
Commercial Market Trends
There’s a lot of potential for commercial development in Mullanpur. Buying commercial real estate can cost anywhere between Rs 500 per sq. ft. to Rs 1 lakh per sq. ft.
Most of the area in Mullanpur is still under development, and will be for quite some time. This means that construction noise and debris might be a problem for people until most of the work is finished.
Transportation might also prove to be a problem since it’ll take some time to set up the public transport systems.
Factors for Growth in the Future
Mullanpur area is a great investment opportunity because of its connectivity and prime real estate. Apart from the GMADA, private developers like OMAXE, DLF, Altus Space Builder, Reliance Group, Ansals, and Rahejas are developing this area.
There’s an ‘edu-city' and a ‘medi-city’ in the works as well, which will bring reputed institutions to the town. Companies like ARK Microsystems have already set up offices in Mullanpur and more are likely to follow.
The introduction of the planned metro system and roads will ensure that Mullanpur is very well connected, making it a premium location.