Commercial realty fails to pick up
SLOWDOWN ON Barring exceptions, commercial realty segment in Chandigarh tricity followed last year’s trend of low demand and price corrections in 2016
The demand levels were low and price corrections were the norm. Even the rental income growth remained low as vacancy rates in most locations were relatively high. In inner sector markets, both capital and rental values remained low.
The periphery commercial segment performed relatively better than the cities. Realty markets like Kharar and Zirakpur promised future growth. As possession of residential projects started to be delivered in these years, and expansion in road networks offering better connectivity of these areas to cities, it fuelled supply growth in the commercial segment in the periphery.