PinjoreKalka urban area fails to attract buyers
Limited plot supply, underdeveloped infrastructure restricts buyers in the area
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.
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.
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.
PinjoreKalka urban area is also an alternative housing option to the BaddiBarotiwalaNalagarh industrial belt in Solan district.