With every passing day, the Union Territory of Chandigarh is adding more real estate projects to its kitty. These property projects are coming up on the bordering areas if the city and act as a connecting link between the city and its neighboring area. Many private property developers are exploring options to foray in the city’s real estate segment.
Real estate developer Emaar MGF Land has just launched an integrated township for Mohali. The township spread over 3,000 acres will have independent houses prices between Rs 36 – 38 lakh respectively. These villas offer Andalusian, Mediterranean and Spanish architecture for its users.
Chandigarh Housing Board (CHB) has launched some of the most promising projects recently. The CHB tied up with Parsvnath Developers Limited to develop a housing complex near the Rajiv Gandhi IT Park. Parsvnath has built another mega project in collaboration with CHB. Named as Parsvnath Prideasia, this residential township will come up amidst Sukhna Lake, golf course, and an upcoming five star hotel. It has saleable residential area of 38.5 lakh sq ft and a commercial area of 2.7 lakh sq ft.
Another real estate developer, Omaxe, has a premium project called Omaxe Greens along the Dera Bassi Road. Omaxe Greens has 652 spacious apartments in 11 housing blocks.
Property developer, Ansal Properties and Infrastructure Ltd has built residential units along the Kharar-Landran Road in Chandigarh. These apartments are located strategically near the Mohali Golf Course and the IT institutes.
Besides residential real estate, the hospitality industry is also doping good in Chandigarh. The Chandigarh Industrial and Tourism Development Corporation (CITCO) has announced to set up a five-star hotel on the Chandigarh-Ambala highway. The corporation is in talks with Hilton, ITC, Marriot and Radisson groups to set up this project.