Chandigarh

The capital city of the state of Haryana and Punjab, Chandigarh is famous for being the first planned city of India. Since the administration is done by the Central Government of India, it is classified as a Union Territory. Of all the new town schemes started post independence, the Chandigarh project quickly assumed importance, because of it's strategic location.

Real Estate Scenario
The real estate sector in the city has witnessed high growth rate owing to good infrastructure, rising incomes, consumerism etc. Excellent social and physical infrastructure including power, water, connectivity through roads and high quality health and educational institutions make the city an ideal place for real estate investment.

Residential Real Estate: The prime locations in the city include sectors 4 to sector10, with these sectors commanding the highest values, ranging from Rs.5,000-7,750/sq.ft. With rising population due to setting up of IT companies in the city, there is going to be an rise in the demand for residential properties, which will further escalate the prices.

Commercial Real Estate: With the flourishing retail industry, a number of shopping malls and complexes are being constructed in the city. Sector 17 market is the most popular commercial property in the sector. Sub- city in sector 34 is another famous commercial property. The city also has SCO or Shop-cum-office complexes. Other important retail market is in sector 8, 9, 22, 26 and 35.

Industrial Real Estate: The city is fast emerging as the new 'IT Hub' of India. With excellent infrastructural facilities, good administration, setting up of SEZ , more and more IT/ ITES companies are considering Chandigarh as the next favored destination. There are nearly 15 medium to large industries and nearly 3000 units under the SSI or small scale industry.

Key Industries
Some of the important industries concentrated in the city are:
Manufacturing Sector

• Pulp and paper manufacturing
• Basic metals and alloy manufacturing.
• Auto parts
• Machine tools
• Pharmaceuticals
• Electrical appliances

Service Sector

• The city is home to a well developed market and banking infrastructure. Almost all the leading banking companies in the country have their regional offices in the city. Sector17 has a famous 'Bank Square' with offices of most of the national and global banks.

Real Estate Development
Owing to rising population and lack of space in the city, the local administration is undertaking development of residential and commercial projects on the outskirts of the city. Keeping in mind the fast growing presence of IT companies in the city, Chandigarh Technology Park (CTP) is being developed, along with an IT park in Mohali. CTP is being built on an area of nearly 400 acres and has been approved as an SEZ. IT giants like IBM, Infosys and Wipro have opened office in this park. India's largest real estate developing company DLF, has also provided space for various IT companies.

Besides this a number of multiplexes, malls, corporate offices, retail showroom are being made. Prominent developers are constructing integrated townships for residents on the outskirts of the city.