Released on: May 16, 2008, 3:47 am

Press Release Author: George Gonigal

Industry: Real Estate

Press Release Summary: Just like most of the other property hotspots, developments
on the commercial front has triggered residential property segment in Mohali as
well. Influx of highly-paid professionals employed by the business giants operating
here has rather translated into upbeat markets, and the impact is quite visible.

Press Release Body: Just like most of the other property hotspots, developments on
the commercial front has triggered residential property segment in Mohali as well.
Influx of highly-paid professionals employed by the business giants operating here
has rather translated into upbeat markets, and the impact is quite visible.
According to industry sources, capital values for residential plots in prime
locations increased by 50-150 per cent, from 2004-06.

\"Locations near commercial hubs command more value. Most of the transactions take
place due to corporate executives who prefer buying their own property instead of
paying rent,\" a property broker informed describing the buyer\'s profile. Also, NRI
investors who were earlier interested in Chandigarh are now considering Mohali.
Currently, capital values for a residential plot in Mohali hovers between Rs 12,000
and Rs 35,000 per sq. yard.

Observing investor interest in Mohali, a slew of prestigious real estate developers
have also launched luxury housing projects of late. Ansal API has been developing
Golf Links-an integrated township comprising luxury villas, condominiums, penthouses
and plots. The project will also have Ansal\'s benchmark Palms Country Club and
shopping mall. Says Kunal Banerjee, President, Marketing, Ansal API, \"Mohali is a
fast growing real estate destination, and there exists a good demand for quality
residential properties.\"

Other major realty players like Unitech, and Emaar MGF have also been putting stakes
in Mohali, with their projects. Pearls Infrastructure is developing Pearls City, an
integrated township, near Kharar-Banur Road, in sector 104. The 200- acre township
by Taneja Developers is another most-talked project in the town. The independent
expandable villas, senior secondary school, club and recreation centre, hospital,
and five star hotel, located on main Mohali-Kharar Highway.

Meanwhile, the real estate developers keep their fingers crossed over the future
prospects of Mohali, they also feel that infrastructure development and progress on
commercial fronts will play the most critical role in the development of residential
real estate at this emerging hotspot.

For more details on Chandigarh Real Estate, log on to
http://www.magicbricks.com/property/faces/jsp/indexc.jsp

Web Site: http://www.magicbricks.com/property/faces/jsp/indexc.jsp

Contact Details: george.gonigal@gmail.com