Dera Bassi is the developing suburban area of Chandigarh witnessing rise in demand and supply in the realty sector. Located on the Chandigarh-Delhi National Highway-22 and on Chandigarh-Ambala highway, it is approximately 20 kms from Central Business District (CBD) regions of Chandigarh.
According to Srikant Verma from ATS Infrastructure, “Dera Bassi is strategically located near borders of Haryana, Himachal Pradesh and Chandigarh. Real estate developers are capitalising on the unique advantage of this area.”
The availability of space at an affordable price in comparison to the upmarket areas of Chandigarh is another advantage fetching the attention of developers and investors,” he added.
Dera Bassi is seeing massive construction activities these days. According to local realtor, Grinder Chatham, “maximum real estate transactions took place in the suburban areas of Chandigarh rather than the CBD areas. Localities like Dera Bassi, Zirakhpur and Sainikpur elicited maximum queries and were more preferred by investors and buyers. Property prices too have noted an appreciation of 20-25% in the past 6 to 8 months in these areas.”
The area is located at a drive of 10 minutes from the airport and 15 minutes from railway station, ensuring connectivity. Also, the locality is seeing growth of commercial complexes, retail malls, five star hotels, schools and other entertainment hubs in the neighbourhood.
In the residential sector, new lifestyle projects by Omaxe Ltd, ATS Infrastructure, Ralgan Infrastructure and Gulmohar Developers are available to the users. The current capital value of apartments here range from 1,500-3,000 per sq ft.
The capital values of plots too have noted a 10-15% appreciation in values. According to Satish Chopra from Chopra Properties, “most of the investors are from Delhi NCR region. They are investing in residential plots owing to lesser values in comparison to Delhi/NCR areas.”
Ongoing infrastructure development projects such as expansion of Barwala Road and Saidpura will also have a positive impact. The property prices are expected to rise by 10-15% once the projects under construction will be completed, added Chopra.
source : MagicBricks