Changing Trends in Chandigarh Real Estate

June 9, 2008 - PRLog -- The strategic location of Chandigarh is the main reason for investor interest in its real estate. The city is the capital of two states, it was always been the hub of important offices, posh officer colonies and hip markets. All this new development is just adding sheen to the already established property market.

Most of the traditional residential properties in Chandigarh are kothis that are 2-3 storey tall multi-apartment structures. At this point of time, the main city is choked and virtually has no piece of land free for new construction. Hence, the owners are remodeling their kothis into single apartments, 2 BHK and 3 BHK and paying guest accommodations. Many people opt for PG accommodations but there are others who refuse to share space with strangers. Such users opt for individual apartments.

On an average, a single apartment in Chandigarh costs around Rs 5,000-6,000 per month depending up on the location and the facilities provided by the landlords. A single room set in Sector 23 costs Rs 6,000 per month.

Sub-urban areas like Zirakpur also offer single room apartments. Property broker, Harpreet Sethi says that such units usually cost around Rs 2,000-2,500 in sub-urban areas. The occupant has to pay for the electricity and water bills over and above the rent. Usually the occupant is required sign a bond of one year with landlords. The user has to pay one month's security and one month's rent at the time of ownership of his flat.

Many landlords provide basic furniture like the table, chair, almirahs and beds. However, there are small-time agencies that sell or rent such basic furniture. Also, the 'tiffin system' is fast catching on with the local people. Many agencies supply breakfast-lunch-dinner to those who don't wish to prepare their meals. One such substantial meal will cost Rs 20-25 per diet.  

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