The Real Estate Market Of Mohali

Major realtors from all over India have realized the potential of the Mohali real estate market and are looking to develop promising residential and commercial properties in the area. This tier-II city is a part of the Tricities- Chandigarh, Panchkula and Mohali. The city has been developed as an extension of Chandigarh. It shares its border and architecture with Chandigarh. But Mohali has now emerged as a separate city, with a distinctive personality. It is the second best real estate investment option in Punjab after Chandigarh real estate. Home buyers including employers, traders, residents and NRIs have tapped the booming property market of Mohali.

Like most of the other property hotspots, developments on the commercial front has kick-started residential property segment in Mohali as well. Influx of highly-paid professionals employed by the business and IT giants operating in the city has rather translated into upbeat markets, and the impact is pretty visible. According to industry sources, capital values for residential plots in prime locations increased by 50-150 per cent.

Real estate developers like Emmar-MGF, TDI and Unitech have stormed the property market of Mohali. The city has witnessed a tremendous increase in the property prices and interest of property buyers. Now Mohali is being projected as a city with a very distinct identity. Office space in Mohali has already been caught by companies like Convergys, IDS Infotech, and other business and technical support companies. Besides that, the city boasts of a very pleasing and charming architecture. Commercial as well as hospitality investment in Mohali include construction of a five- star hotel, a couple of three-star hotels and two world class hospitals. Megaplex is also being planned which will be equipped with a film theatre and several entertainment options
Emaar MGF, one of Indias leading real estate developers is coming up with a signature project in the city called Mohali Hills. Mohali Hills is a maiden mega project of the joint venture in Punjab with a capital expenditure of Rs. 16,000 crores. Emaar MGF Land Private Limited has emerged Indias leading joint venture in real estate with residential, commercial & retail, IT parks and SEZs, Hospitality, Healthcare and Education projects being implemented on a pan India basis. The joint venture has brought in the largest FDI in the Indian real estate sector along with world-wide collaborations that have introduced best global practices in the sector today.

Mohali Hills is a project that includes development of luxury villas, premium apartments, terraced town homes and lies in close proximity to Chandigarh. Spread over many acres, this project is the first ever integrated township to be built in Punjab. This township will include residential plots, town houses and villas along with convenient shopping malls, landscape gardens and recreational centres, in simple words it will be a self-sufficient township. Mohali Hills will be a house for special education & wellness zones with fully-equipped hospitals, schools, and colleges in order to provide institutional facilities of medical care and education to the residents of the township. The township will also introduce world-class office & IT park spaces in the city which in turn will give a fillip to industry and business, IT in the state.

The project, Mohali Hills is the culmination of an MoU between the Government of Punjab and leading real estate developer, Emaar MGF to develop 5000 acres of land in different parts of Punjab; Mohali, Ludhiana, Jalandhar and Amritsar; through integrated township projects and urban infrastructure development projects.

Besides Emaar MGF, other developer that is taking keen interest in the property market of Mohali is Ansal API. The realtor is in the process of developing Golf Linksan integrated township comprising luxury villas, condominiums, penthouses and plots..

Unitech has also put stakes in Mohali, with its premium residential and commercial projects. Besides that some small developers are also investing in the city. Pearls Infrastructure is coming up with Pearls City, an integrated township, near Kharar-Banur Road, in sector 104. Taneja Developers is developing 200-acre township, which is yet another talked about project in the town. Other projects which will mark the development of the city are: the independent expandable villas, senior secondary school, club and recreation centre, hospital, and five star hotel, located on main MohaliKharar Highway.

In the meantime, the real estate developers are keeping their fingers crossed over the future scenario of Mohali, they feel that infrastructure development and progress on commercial fronts will play a significant role in the development of residential real estate at this emerging city.

Pune – A Real Estate Destination

The real estate scenario looks gloomy in the current scenario, but a couple of cities are sure to stay ahead of the rest even in the current scenario. Pune, one of the hottest real estate destinations will continue to see stabilized prices and an appreciation in prices in the long run. There are various reasons that can be attributed to the growth of the city.

Pune is a commercial hub with dominance of industries including IT andITeS, Automobiles. Petrochemicals. Oil and Gas, Engineering. Financial Services, Textiles. Companies have displayed a brilliant growth within the city. The city is centrally located and makes fro a good hub for manufacturing companies. Swanky office buildings host the biggies of the word like Mercedes Benz , GM and many more. This has led to extensive commercial development in the city. Infact, companies from other sectors also eye the city including Biotech, Hospitality etc

Some of the advantages of being in Pune real estate include the following

Pune is the second largest city in Maharashtra and sixth largest city in the country with a population of 7.2 million people with a high purchasing power. It is also a prominent education centre. The city has over 100 colleges and institutions of higher learning including 14 Engineering Colleges and 10 B-Schools. A large number of ITI s provide the necessary shop floor skills. Scientific institutions and the substantial presence of IT companies assure a supply of high quality knowledge base.

Pune is also emerging as a prominent city for BPO due to the availability of skilled English speaking manpower. The city houses a large number of national and international players including Tata Motors, Bajaj Auto, Daimler Chrysler, Fiat, Bharat Forge, Tata Consultancy Services, Infosys and Wipro, among others. It has 12 focus industry areas including automobiles, chemicals, consumer durables, engineering and Information Technology.

The commercial property development of the city can largely be attributed to the state, Government and the infrastructure. The advantages of being in Maharashtra include the following. It is the largest economy in the country, with a high per capita income and one of the most attractive investment destination in the country, accounting for 40 per cent of exports. This has also fostered the presence of reputed R&D centres in the city.

The IT presence in the city is largely attributed to the bold and visionary IT policy. Initiated by the State Government, it is responsible for attracting companies to set up shop in the state. The Policy includes exemption for IT units from various taxes and duties, permission to set up units anywhere in the state without restrictions, setting up of Special Export Zones and various other government initiatives to boost the IT culture within the state. Software Exports: Maharashtra accounts for more than 30 percent of the countrys software exports, with over 1,200 software units based in the state, thus providing a familiar and friendly environment for IT companies.

The government of Maharashtra has undertaken the ambitious project of developing the Mumbai-Pune Knowledge Corridor, thereby creating a natural home for companies from all over the world, seeking to set up their IT or ITES activities in a safe, business-friendly and progressive environment with world-class facilities and infrastructure, with a long term perspective.
Committed huge investments in the state include Boeing Rs 500 crore (Rs 5 billion) in Nagpur Volkswagen, Rs 2,350 crore (Rs 23.5 billion) in Pune, General Motors Rs 1,350 crore (Rs 13.5 billion) in Pune, Bajaj Auto Rs 2,000 crore (Rs 20 billion) in Pune/Aurangabad, Hyundai Heavy industries Rs. 260 Crores in Pune, Mahindra & Mahindra Rs. 2000 crores in SEZ, Microsoft and Videocon.
All of the above reasons are sure to be the reasons for continued growth in the city for years.

Residential real estate at Pune is all set to create new benchmarks. To cater to the residential demand in the city, Pune needs almost 40,000 residential properties every year to meet the housing demand in the city. Thus, the Public Private partnership will create a new city sky line.

The upcoming residential areas include: Kalyani Nagar, Kawade Road, Hadapsar, Thergaon, Ambegaon, Balewadi and Wagholi among others.

Thus, jump into the Pune realty bandwagon and search for a house to invest or live in. To find that dream property, it is recommended that you search online and find your options before getting on the ground. Thus, you can save precious time and money. With the prices just stabilizing, it is an opportune time to get that house you have always dreamt of.

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Joseph Kavana Is the Chief Executive Officer of Miami-Based K Group Holdings

Joseph Kavana was born in Uruguay in 1949 and has been residing in Miami since 1980. He has worked as an active developer and investor for more than twenty years in the real estate industry. Joseph Kavana is now serving as Chairman and CEO of K-Group Holdings, Inc., a leading real estate development company involved in various prestigious projects. For the past 25 years, K Group Holdings, Inc. has successfully evolved as an active investor and manager of strategically-selected companies throughout the world. K Group International Development, a division of K Group Holdings, is a diversified real estate investment and development company working in the United States and Latin America. The company is actively involved in the development of a project known as Yoo Punta Del Este in Uruguay and Yoo Nordelta in Argentina.

From 1980 to 2000, Joseph Kavana has served as Chairman of the Board and CEO of Sagaz Industries, Inc. The company manufactured and distributed soft goods products for the automotive industry. In a short period of time, under his expert leadership, the company became leader in the automotive aftermarket. In 2000, he sold the company to Pennzoil Quaker-State. He then created K Group Holdings Inc, driving force behind Metropica, a premier mixed use development in the heart of Sunrise, Florida.

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