Mohali, now with a separate identity

Mohali, which is a part of the tri-city- Chandigarh and Panchkula, was built as an extension of Chandigarh, to lessen the housing strain on it.
Mohali not only shares its border with Chandigarh but also its architectural planning. Officially it is also known as SAS Nagar, named after the eldest son of Guru Gobind Singh, Sahibzada Ajit Singh.

Mohali has now emerged as a separate city with an independent identity. Infrastructure in Mohali has improved a lot, making it accessible from in and around Chandigarh. The basic facilities, power resources and encouraging law and order situation along with an increase in trade environment have bolstered the image of Mohali as the second best option after Chandigarh. Lush greenery, peaceful and cheap accommodation and proximity to the planned city have helped in face lifting tourism in Mohali.

Owing to the higher property rates and the diminishing space in Chandigarh, a different sect of buyers ranging from employers, traders, residents including the NRIs are now entering Mohali property market.

Mohali real estate has started seeing bullish trends as more and more buyers are investing here. It is not only the residential property but the commercial property in Mohali is also seeing sunny days. Easy finance, hassle free registration norms and proactive measures by the government has also shown the way for foreign direct investments in Mohali. Even as the government proposes to make Mohali an IT center, many brands have already gone ahead and made sizeable investments giving a boost to the retail sector in Mohali.

Even in the wake of marginal price rise, it is a commercially viable option to buy property in Mohali as the city is all poised to embark on a success journey. An investment in Mohali real estate is sure to give a definite leeway to buyers.

Mohali has witnessed tremendous building activity, which also led to supply exceeding demand there. Many flats are coming up in Zirakpur and Derabassi as well. Highlighting the opportunity to buy cheap, Mohali-based property dealer, Gurvinder Singh said, "As projects like international airport and expressway are coming up, property prices in Mohali are going to raise manifold. So there is good reason to invest."

This sudden rise was even witnessed during an auction of residential sites held by the Greater Mohali Area Development Authority last year wherein a one kanal seven marla plot fetched a whopping Rs 3.11 crore against its reserve price of Rs 2.3 crore.
The boom does not just extend to the residential areas. The commercial sites in Sector 69 fetched Rs 12.75 crore against the reserve price of Rs 4.75 crore during the auction.

A one-kanal house in Mohali now costs between Rs 1.80 to Rs 2.25 crore while a ten-marla plot sells for around Rs 90 thousand to Rs 1.20 crore.
Spurring the demand in Mohali is the development of an international airport, setting up of top institutions like the Indian Business School and the Indian Institute of Science and the entry of high-profile groups such as EMMAR, Unitech, Parsvanath and Omaxe.


Now, due to the increased prices in Mohali, the rates in Chandigarh have also risen. Though, the rates are expected to remain stationary in Zirakpur and Kansal. Most of the buyers in this year’s auction were outsiders backed by big real estate players, contrary to the usual practice, with no local investor invested.

Coming and Upcoming Real Estate Projects

A whopping $ 3 billion is being pumped into real estate projects only in Mohali. That itself speaks volumes about the scale of work that is going on to bring this city up to such a level from where it shall be no lesser than Chandigarh.
Suncity Projects Pvt. Ltd.:
Suncity Projects Pvt. Ltd. has envisaged bringing a major retail boom in Mohali with a Mega project covering 22 Lac sq. ft. area. It aims to build a Five Star Hotel, a multiplex and a mega shopping mall in Mohali. This will have a Botox effect on the serene yet forward facing neighbor of Chandigarh.
Many IT educational institutes and companies like Infosys plan to add more training and development centers in Mohali in pursuance of its dream to be an IT hub.
International Airport, Mohali:
The Greater Mohali Area Development Authority (GMADA) has acquired 306 acres of land for the construction of the international airport in Mohali . Now Greater Mohali Area Development Authority (GMADA) plans to acquire almost 1,200 acres of land in the district for wider connecting roads and again at the rate below market rate.
Business Centre, Bus Terminal and a Hospital with a combined capital outlay of Rs. 10,413 crore:
In February, the Punjab Deputy Chief Minister, Sukhbir Singh Badal launched three major projects including business centre, bus terminal and hospital with a combined capital outlay of Rs. 10,413 crore.
Badal laid the foundation stones of Central Business District (Rs. 10,000 Crore), state-of-the-art ultra modern air conditioned bus terminal (Rs 300 Crores) 57 and a multi specialty hospital (Rs. 113 Crore) in Mohali.
The central business district in sector 62, would be set-up on a piece of 250 acres plot. Planned and designed by top international city planning agency of Singapore Jurong International, the business centre is expected to attract an investment of Rs. 10,000 crore.
The business centre would have shopping malls, five star hotel, theme park, convention centre and entertainment corner.
A super specialty hospital is being set up by the Max Group at a cost of Rs. 113 crore. Equipped to provide super specialty care in two discipline cancer and trauma, this 200-bed hospital would be completed by April 2011.

Parkwood Glade - Landran Road, Mohali :
Parkwood Glade is coming up with a modern living in contemporary 2 and 3 BHK Apartments. The elegant complex offers spacious 2 and 3 bedroom apartments surrounded by landscaped gardens and facilities designed to enable people like you to enjoy life to the fullest.

Features of Parkwood Glade
24 hours manned perimeter security for the complex, CCTV on tower entrance for surveillance linked to main security control room, Emergency call switches in each apartment, Provision for cable & broadband connectivity, Modern fire fighting,electricity and water supply system, In-house club with gym, steam, sauna, jacuzzi and swimming Pool, Modular kitchen cabinets with hob and chimney, Laminated wooden flooring, Latest water-harvesting techniques.

Gillco Heights Project in Mohali:
Gillco has executed freehold housing projects "Gillco Valley" at Greater Mohali and Ropar before launching well appreciated Gillco Villa’s built-up homes and Gillco Commercial Complex at Gillco Valley Greater Mohali. Gillco offer 2BHK & 3BHK Luxury apartments with modern facilities at affordable pricing..

TDI City, Mohali :
TDI city Mohali, a fully integrated self sufficient township spreads over 200 acres, consists of Independent expandable villas, senior secondary school, club and recreation centre, Hospital, + 5 Star hotel etc, located on main Mohali – Kharar High way.

Pearls Infrastructure, Sector 104, Mohali:
Pearls Infrastructure is coming up with Pearls City, an integrated township, near Kharar-Banur Road, in Sector 104.

Mohali Hills , Sector 108, Mohali:
MGF Emaar, is coming with new project Mohali Hills (Stackable homes) 1365 sq ft with 3 bhk,3 bathroom, with living/dining room.property is at 2nd floor with roof for own use available for sale at a very reasonable price. Property holds all world class amenities like gym,club,swimming pool,security ,back up.