Mid-priced homes: Op­tions ga­lore for buy­ers in Kar­nal

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

CHANDI­GARH: Kar­nal res­i­den­tial realty mar­ket is pri­mar­ily a plot­ted mar­ket, but apart­ments are also avail­able in the city. The tier-III city is lo­cated equidis­tant from Chandi­garh and Delhi on the Na­tional High­way 1.

Cur­rently, prices are sta­ble in the city’s realty mar­ket. The last realty boom in the city was be­tween 2007 and 2011. The realty sec­tor is strug­gling to get the in­vestor at­ten­tion, though the end-user de­mand has con­sis­tently im­proved over the last one year, say lo­cal realty ex­perts.

In the plot­ted cat­e­gory in the city, plots are the first op­tion for most home buy­ers, cur­rently, dom­i­nated by the end-user. Plot prices, gen­er­ally, range from ₹6,000 per sq yard to ₹60,000 per sq yard.

In the out­skirts and also in pri­vate sec­tor devel­op­ments, prices are rel­a­tively low than in Haryana Ur­ban De­vel­op­ment Author­ity (HUDA) sec­tors and in­ner parts of the city. In pri­vate projects, plot prices vary from ₹9,000 per sq yard to ₹15,000 per sq yard.

The built-up houses in the form of kothis are avail­able in

FOR HOME BUY­ERS LOOK­ING FOR A MID­PRICED PROP­ERTY, KAR­NAL OF­FERS OP­TIONS IN PLOT­TED AND BUILT­UP SEG­MENT IN THE PRICE RANGE OF ₹40 LAKH TO ₹60 LAKH

wide range of sizes. Gen­er­ally, the sizes range from 100 sq yard to 1,000 sq yard. The built-up kothis and vil­las can be ex­plored in a price range of ₹25 lakh to ₹1 crore depend­ing on the size and lo­ca­tion of the prop­erty.

In the new projects, new cat­e­gory of vil­las is also avail­able in the built-up seg­ment. Th­ese are ei­ther sin­gle storey or dou­ble storey. The con­fig­u­ra­tion of vil­las range from 2-BHK to 4-BHK and the av­er­age size varies be­tween 500 sq ft to 4,500 sq ft.

The av­er­age apart­ment prices gen­er­ally vary be­tween ₹2,000 per sq ft and ₹3,500 per sq ft.

Most of the sup­ply is con­cen­trated in the HUDA sec­tors. Also, in the pub­lic sec­tor are older Im­prove­ment Trust de­vel­oped ar­eas where most ex­pen­sive res­i­den­tial prop­erty in the city is lo­cated. HUDA sec­tors and im­prove­ment trusts of­fer rel­a­tively higher priced plots.

Most of th­ese plots and plot­ted devel­op­ments like built-up houses are avail­able in the sec­ondary mar­ket only. With rel­a­tively bet­ter in­fra­struc­ture and de­vel­op­ment, th­ese ar­eas reg­is­ter higher de­mand lev­els than other ar­eas in the city.

Home buy­ers can ex­pect to get a strong sec­ondary mar­ket rather than pri­mary mar­ket, with sellers more re­sis­tant to price cuts.

Pri­vate sec­tor de­vel­op­ers like Al­pha G Corp, An­sal Hous­ing, An­sal API, Parsv­nath, Global Realty, CHD and oth­ers also have size­able foot­print in the lo­cal realty mar­ket.

Th­ese play­ers are of­fer­ing com­mer­cial and res­i­den­tial spa­ces in more than 1,000 acres across the city, though pri­mar­ily around the NH-1. In the pri­vate sec­tor de­vel­oped ar­eas prop­er­ties are avail­able both in the pri­mary and sec­ondary mar­kets.

The pop­u­la­tion den­sity in th­ese ar­eas is rel­a­tively less than the older, in­ner city ar­eas. Most of the pri­vate sec­tor projects are lo­cated on ei­ther side of the na­tional high­ways pass­ing through the city.

HT FILE

Kar­nal realty mar­ket is pri­mar­ily a plot­ted mar­ket, but apart­ments are also avail­able in the city.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.