Pin­jore­Kalka ur­ban area fails to at­tract buyers

Lim­ited plot sup­ply, un­der­de­vel­oped in­fra­struc­ture re­stricts buyers in the area

Hindustan Times (Chandigarh) - Estates - - HT ESTATES - HT Es­tates Cor­re­spon­dent ht­es­tates@hin­dus­tan­times.com

The de­lays in pos­ses­sion in newer projects and slow pace of de­vel­op­ment in the area have contributed to price cor­rec­tions in ad­di­tion to the gen­eral slow­down in the realty mar­ket

VIVEK SHARMA, Panchkula-based builder

The Pin­jore-Kalka ur­ban area (PKUC) in Panchkula district on the high­way to Hi­machal Pradesh is a rel­a­tively cheaper hous­ing op­tion than Panchkula. It is also an al­ter­na­tive hous­ing op­tion to the Baddi-Baroti­wala-Nala­garh in­dus­trial belt in Solan district.

The PKUC is an ad­di­tional planned de­vel­op­ment with Panchkula city to meet the in­creas­ing hous­ing needs in the tric­ity of Chandigarh, Panchkula and Mo­hali.

Though the master plan for PKUC en­vis­ages the de­vel­op­ment of res­i­den­tial area of 1100.13 hectares yet so far the pace of de­vel­op­ment has been slow both in pub­lic and pri­vate sec­tors. The res­i­den­tial sec­tors are in the area ly­ing on both sides of Na­tional High­way-22 be­tween Pin­jore and Kalka ad­join­ing HMT Colony and Am­ra­vati En­clave.

Com­mer­cial belts will be de­vel­oped along the 60-me­tre road link­ing Nala­garh road and Kalka town.

The area be­tween the Kaushalya river and NH-22 near Su­ra­jpur is also pro­posed to be de­vel­oped as com­mer­cial sec­tor 1 and 6. Sec­tor 22 has been pro­posed as the city cen­tre and Sec­tor 31 as a district cen­tre.

PRICE MOVE­MENTS

With low de­mand from both end-users and in­vestors, the mar­ket sen­ti­ment is sub­dued for the past six years. “The last ma­jor price ap­pre­ci­a­tion took place in 2010-11 when prices in­creased by 25% to 30%. In four years, plot prices have de­clined by more than 30%-40%. Gen­er­ally, the prices range from Rs 7,000 per sq yard to Rs 32,000 per sq yard. The pos­ses­sion de­lays in newer projects and slow pace of de­vel­op­ment in the area have contributed to price cor­rec­tions in ad­di­tion to the gen­eral slow­down in the realty mar­ket,” says Vivek Sharma, 42, a Panchku­la­based builder.

SUP­PLY OP­TIONS

One of the prom­i­nent play­ers in the area is the Haryana Ur­ban De­vel­op­ment Author­ity (HUDA).

A few years ago, it floated 1,000 plots for Sec­tor 30 in PKUC. The sec­tor is lo­cated on the Pin­jore-Nala­garh road. Plots in the sec­tor are in six sizes – 100 sq yards, 150 sq yards, 200 sq yards, 250 sq yards, 400 sq yards and 500 sq yards.

Am­ra­vati En­clave (in­te­grated town­ship) has al­ready been de­vel­oped in the area lo­cated on the Kaushalya river ad­join­ing NH-22. It has plots, in­de­pen­dent floors and apart­ments.

DLF (DLF Val­ley Panchkula) and Ireo (Ireo Fiveriver) Panchkula are two ma­jor pri­vate play­ers ac­tive in the area.

In the plot­ted seg­ment, built-up in­de­pen­dent floors are avail­able. There are more than 3,000 in­de­pen­dent floors in dif­fer­ent stages of de­vel­op­ment. But due to long pos­ses­sion de­lays, the ear­lier pos­i­tive buyer re­sponse for the seg­ment has con­sis­tently de­clined.

There are also is­sues with the de­vel­op­ment of in­fra­struc­ture in the area.

“Even though plots in the area are cheaper than Panchkula, yet buyers, ex­cept for few projects, have shown lim­ited in­ter­est in the area. The in­fra­struc­ture de­vel­op­ment in the area leaves much to be de­sired, par­tic­u­larly the road net­work. The realty slow­down has im­pacted growth here with both pri­vate and pub­lic sec­tors post­pon­ing their de­vel­op­ment plans for the area,” says Ran­deep Singh Saini, 44, a res­i­dent of Am­ra­vati En­clave.

HT FILE

Pin­jore­Kalka ur­ban area is also an al­ter­na­tive hous­ing op­tion to the Baddi­Baroti­wala­Nala­garh in­dus­trial belt in Solan district.

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