Cheaper housing option in Panchkula
The Ghaggar river divides Panchkula into old and new sectors. The sectors beyond the river that share their border with Ramgarh village are known as the new sectors and include Sectors 24, 25, 26, 27, and 28. These sectors are connected to the older sectors by a bridge over the river between Sectors 3 and 23.
People hunting for homes in these areas can opt for plotted and apartment segments, most of them in the secondary market. The main supply generators are Haryana Urban Development Authority (HUDA), Haryana Housing Board and cooperative group housing societies. These planned sectors have separate res id e n t i a l , co m m e rc ia l , recreational and institutional areas.
Availability and prices
Plots of dif ferent sizes starting from 100 square yard to 500 square yard are available in these sectors. Prices range from R32,000 per sq yd to Rs 40,000 per sq yd. Apartments in group housing societies are also available in different sizes in 2BHK, 3BHK and 4BHK (bedroom-hall-kitchen) formats of about 800 sq ft to 2,000 sq ft size. Prices range from around
R3,500 to R4,500 per sq ft. These sectors have several renting options. A 10-marla independent built-up house is available for an average monthly rent of R10,000 to R12,000. Apartments of 2, 3, and 4 BHK are available. Rent for a 3BHK apartment is around
R10,000 a month. For the past five years, prices have steadily declined as the realty slowdown in the city and region impacted these sectors. “After the central government decision of demonetisation, the sale and purchase of property in these sectors, much like in the rest of the city, sharply declined. Prices are also expected to decline by 25% to 30% after the announcement of the policy,” says Vikas Narang, 36, a local real estate consultant.
The relatively cheaper prices are an advantage. Prices are 25% to 50% less than the prices in the older areas. Also, these sectors are sparsely populated with high vacancy rates in plots, built-up houses and apartments. “It is relatively easy to find a house of one’s choice here as the gap between demand and supply is large. Most of the supply is in the secondary segment. A home buyer can explore apartments, vacant plots and built-up kothis. In Sectors 27 and 28, prices are still cheaper, and the habitation is much less,”l ” says ArunA Ch Chugh,h 62, a retired government employee and a resident of Sector 26.
The connectivity of the new sectors with older sectors and with the rest of the tricity is a major concern for the home buyers and local residents. “There is only one bridge that connects the area with the rest of the city and the tricity. It isi alwaysl crowdedd d and d it i is time consuming to travel to office and schools in the city from here. The government should build at least one more bridge connecting the area with Sectors 21 and 20,” says Pawan Gupta, 32, a local resident, working in the insurance sector.
Another complaint the local residents often make is the relatively poor infrastructure in the area. “The internal roads here are no not ot as well maintained as the rest of the city. Similar is the case withw street lighting. Important educational and healthcare facilitiesf are missing fromf theh area. The elderly have a huge problem when it comes to medical care. Heavy traffic on National Highway 73, which runs alongside these sectors, makes entry to the residential areas difficult. It’s a major hassle crossing the highway and entering the sectors because of the traffic. An underpass should be built for local residents to cross the highway,” says Manoj Sharma, 67, a local resident.
For home buyers looking for a cheaper alternative to the older sectors, these sectors of fer good options. After demonetisation, it’s cheaper to own a house. But this comes with relatively inferior infrastructure development. Though in recent years, with habitation increasing, the pace of infrastructure development has improved. Connectivity with the rest of the city though still leaves much to be desired, but internal roads, particularly, the roads alongside the Ghaggar has witnessed improvements in recent times.