Real Talk: Mohali realty scene brims with choices for homebuyers & investors
Q. What are the new areas in the vicinity of Mohali that new home seekers can explore?
Many people migrating from areas such as Sangrur, Bathinda, and the surrounding regions want to move closer to Chandigarh and Mohali is the most- developed area near Chandigarh and currently offers the most-advanced infrastructure, including residential projects, hospitality services, hotels, shopping malls, retail outlets, hospitals and schools. But with the main Mohali city reaching a saturation point in terms of residential development, new home seekers are exploring its micromarkets like New Chandigarh, Kharar-Landran Road and the Patiala Road area in Zirakpur. However, these areas can be seen as more of an affordable option in terms of living standards, as their infrastructure is still developing.
While the future prospects are promising, it’s important to note that many developers in these areas focus on more affordable housing options, catering primarily to the middle-income group buyers.
Q. What are the locational and developmental benefits of the Airport Road area for home buyers and investors?
In Mohali the Airport Road, from Sector 75 to 82, is currently one of the most popular and high-return location, with numerous hospitals, schools, luxury hotels, top-tier residential developments and some of the best commercial establishments. It also boasts of the highest rental rates, especially in HIG (high-income group) properties.
Just like in Tier I cities like Mumbai, Bengaluru, New Delhi, Pune, etc. areas in the vicinity of airports are considered as the prime locations, in Mohali, too, the airport’s presence has significantly increased the area’s appeal. This is evident from the significant appreciation in land/flat prices here over the past couple of years.
Q. What type of inventory can homeseekers find in Mohali?
Mohali can be divided into three main areas. The first is the area before Sector 75; the second is the area after the railway bridge Sector 66; and thirdly the area falling in between these two locations.
When talking about different sectors, one can say that the area before Quark office is the most affordable, the middle area is the most luxurious and premium, and after you cross the bridge, it becomes an affordable sector again.
Q. Is there ready-to-move in inventory here?
There is a high demand from end users in the market, particularly those looking to purchase properties for personal use. However, the availability of ready-to-move properties is quite limited in Mohali. This shortage means that buyers who want to move in immediately may have fewer options to choose from. Thus, there’s a favourable situation for developers who have ongoing construction projects. Since buyers are unable to find ready-to-move homes, they might be more inclined to invest in under-construction properties, giving developers an opportunity to attract more customers. The current market conditions can benefit developers who are building new projects, as the demand is there.
Q. What are your new projects coming up in this area and what is the USP?
We recently delivered the commercial project CP67, which has been a massive success with a footfall of over 1 million visitors each month. We are also working on the most luxurious residential project in Mohali, Homeland Regalia. This highly talked-about residential project has sparked interest from numerous celebrities and business tycoons. Homeland Group has set its sights on even grander horizons. We have recently acquired the land in the heart of Mohali, Sector 75, on International Airport Road, for an upcoming mixed-use commercial development project.
Q. Builders now are more aware about environment friendly construction practices as well as building plans, how much of this do you follow in your projects?
We prioritise environment friendly construction practices in all of my projects. We are doing our best to create sustainable and save Green Environments in our projects by using sustainable material, energy-efficient planning, water conservation, waste reduction, green house building concepts and indoor air quality. Sustainable construction practices have become imperative in the face of environmental degradation and global warming.
By incorporating these practices, Homeland Group aims to not only reduce the environmental impact of our projects but also to create spaces that are more efficient, comfortable and sustainable for their occupants. These strategies, ranging from design considerations to material choices and energy-efficient technologies, offer a roadmap for the construction industry to reduce its environmental impact and contribute to a more sustainable future.
