Good housing option
Looking for a relatively cheaper house and good quality of life then head to ‘outer’ sectors of Panchkula
Commonly known as ‘outer sectors’, sectors 2, 4, 12 and 12A are located on the national highway 22 passing through Panchkula and connecting to Shimla in Himachal Pradesh. Sector 2 and 12 are also knowns as ‘defense’ sectors because a large number of plots were reserved for the defense services personnel by HUDA (Haryana Urban Development Authority). These sectors enjoy locational advan- tage. These are well connected not only to Chandigarh but also to national highways 22 and 73.
Property prices in the last three years have consistently fallen. Local real estate experts say, prices have fallen by around 20% to 30 % depending on the location of the property. Low demand is blamed for the falling prices. Neither the end-user nor the investor is active in the market. For people looking to exit the market, say local realty experts, it is very difficult.
Plots in the secondary market
In these sectors, vacant plots are rarely available as most of the plots have been used for construction. Generally, buyers can purchase old construction houses at the price of a vacant plot. Newer constructed houses are priced higher than the older constructed houses. The initial allotment was made by the HUDA, and now, most plots are only available in resale.
At what price
“Plot prices generally range from R65,000 to R85,000 per sq yard. At one time prices have crossed R1 lakh per sq yard. Prices vary depending on the location of plot whether nearer to a market, or a sector road or a park. The impact of the demonetization of the higher value currency notes is still to be full realized as trading volumes plummeted after its declaration. Both buyers and sellers, currently, are reluctant to make a decision. Market conditions are expected to get clearer after the union budget,” says Anurag Gupta, 37, a local real estate resident. Prices are expected to register sharper decline in the coming months as the prominent ‘cash’ element in the realty deals disappeared after the demonetization. The collector rates are lower than the market prices; the impact of the demonetization is expected to bring market prices closure to the prevailing collector rates.
Rental growth is stable. In these sectors generally cater to the families as tenant. People offer rental spaces on the first or second floors, and live themselves on the ground floor. Rentals for a 2-BHK (bedroom hall kitchen) varies between R10,000 to R14,000 per month. For a 3-BHK the rental generally varies between R12,000 to R18,000 per month. It is a good time to buy property here. Sellers are under pressure to sell because of low demand, and falling prices. Prices in these sectors like rest of the city have fallen by around 25% to 30% in the last three years, says a local realty broker.
These sectors are generally well-maintained and most of the civic amenities available. Markets are well developed and so health facilities. In recent years, road carpeting has become a major issue with infrequent carpeting of roads.
Scope for improvements
There are also some problems, which the residents have to contend with. “Every time rainwater drainages along roads are cleared the waste is dumped on the roadside. Similarly, rehri-wallas parked on roads dump their waste on the road itself. Disposal of garbage in several areas is an issue that needs both residents and government agencies’ cooperation,” says, Mandeep Kumar, 26, a local resident.
Residents also complain about the traffic congestion around the market, and which causes frequent incidence of accidents. “Rehri wallas encroaching on roads, and people parking cars on the roadside to buy stuff from these rehris frequently cause traffic jams and accidents. Government authorities should strictly curb this menace,” says Kumar.
“A big problem for the residents of sectors 2 and 4 is the poor civic conditions behind the offices enclave in these two sectors. The problem is particularly acute in Sector 4. A mini slum has developed behind these offices. People living here does not have access to toilets or drinking water. Government should either rehabilitate people living here to some other location or should provide sanitation and drinking water facilities to them. In the morning people free these hutments defecate in the open, sometimes near the houses in the sector,” says Pramod Nanda, 48, a local resident.