Panchkula is a planned city, located in the Panchkula district in Haryana. It’s part of the so-called ‘tricity’, which is made up of Panchkula, Mohali, and Chandigarh. It’s nestled in the midst of the picturesque Shivalik Mountains.
Panchkula is divided into five districts, namely Pinjore, Barwala, Kalka, Panchkula, and Raipur Rani. The city is being developed as a model for planned urban cities. It’s being carefully shaped into an environment that is progressive, both industrially and commercially, while also maintaining its cultural heritage and natural bounty.
Panchkula is notable for being the headquarters of the Western Command of the Indian Army, which has been active here since 1947. It’s also home to a number of important business hubs. Parts of this area are being developed into tourist destinations.
Connectivity and Transit Points
Panchkula has a highly thought-out and effective transit system in the form of buses that operate under the name of Chandigarh Transport Undertaking. Chandigarh and Mohali are easily reached by boarding a bus from Panchkula Bus Stand in Sector 5. Intra-city transport is handled by Haryana Roadways, which employs a fleet of buses for this purpose.
Chandigarh Airport is only 10.5 km away from Panchkula, and Chandigarh Junction Railway Station is only 5.4 km away.
Cabs are a common and convenient mode of transport within the city. Not all cabs charge the same price, so one has to check beforehand. Auto-rickshaws are also commonly hired here. The practice of sharing autos for short trips is prevalent, and can save the commuter some money.
Major Landmarks
Factors for Growth in the Past
Panchkula’s economy is based both on agriculture and industry, with around 30% of its workers engaged in agriculture. But it was mainly the presence of industry that led to growth of the locality. Urban Estate, Pinjore, Surajpur, and HMT area are industrial centers of economic importance in Panchkula.
Tourism is another major factor. A number of sights and attractions dot the locale of Panchkula. Plus, it acts as a gateway to other destinations further north, so travellers use this city for a stop over. A lot of tourists to Chandigarh opt to stay in Panchkula because of this proximity.
All these factors, combined with the impeccable planning of this region, have caused Panchkula to grow steadily into a city of major importance.
Residential and Commercial Market
Residential Market Trends
Prices during the January-March quarter of 2013 were about Rs 5,987 per sq. ft. The low point was in the April-June quarter of 2013, when prices sat at Rs 3,824 per sq. ft.
Since then, prices have appreciated greatly. The October-December quarter of 2013 saw prices at Rs 6,010 per sq. ft, and in January-March 2014, prices were at Rs 6,201 per sq. ft. As of the April-June quarter of 2014, prices are at Rs 6,212 per sq. ft.
Commercial Market Trends
Sale price of commercial property in Panchkula can be anywhere from Rs 700 per sq. ft. to Rs 50,000 per sq. ft., depending on the type of property.
Renting commercial property here, on the other hand, can cost one anywhere between Rs 25 per sq. ft. to Rs. 200 per sq. ft. depending, again, on location and type of property.
Major Challenges
While the infrastructure and connectivity in Panchkula is a cut above most other places, it’s far from ideal. Like any city, Panchkula has its share of troubles.
Crime here has been on the rise in recent years. Steps are being taken by the police department, but only time will tell if these measures will help.
Rain can bring traffic to a crawl. Waterlogging and deterioration of roads is a major problem here, and better infrastructure needs to be put in place to keep this from affecting other aspects of the city.
Factors for Growth in the Future
A major factor for economic growth in Panchkula is the presence of industrial hubs like Panchkula Urban Estate, H.M.T., Pinjore, and Surajpur. Naturally, the economic growth will lead to further development in the region. There’s also a plan in the works, to open a quality medical college in Panchkula. The influx of students that this will bring, will also positively influence growth here. The district administration is also working on developing spots like Morni hills and the Pinjore complex as tourist destinations.
The Chandigarh Metro project is expected to be completed in 2018. Panchkula’s connectivity will receive a huge boost from this and the realty value of the city will rise.
