Upcoming projects bolster residential inventory
The primary market scene in Panchkula may not be as robust as that in Zirakpur and other Mohali micromarkets, but developers are coming up with new projects in the vicinity of the city.
One such project is Trident Hills that offers luxury residences along the Panchkula–Kalka Highway. At Trident Hills, the starting price for floors is ~2.30 crore (360 yards). While a floor measuring 545 square yards would cost around ~3.60 crore. The project has witnessed a good response as Phase I plots have already sold out. Now Phase II plots have been launched by the company.
On the anvil
Eco City Hills (Sec-14, Village Bhillah)
Eldeco Aranya (Sec-16, Panchkula Extension II)
SIGMA Residency (Sec-12, Panchkula Extension II)
Hill View Estate (Sec-14, Kot Behla Urban Complex)
Sunlit group has launched its Sunlit Urbana Green City project in Sector 16 of Extension II, Panchkula, on NH 7 in April this year. Located along the Yamunanagar highway, this 70-acre project will have state-of-art facilities in the gated complex. The 13.5 acre Phase I of the project has plots of 118-180 sq yd plots on offer that will be handed over to buyers by next year. The price is at Rs 68,000 per sq yd at the moment.
Panchkula Extension has projects launched by developers such as Green Space Infraheights and Sigma Residency. Eldeco Infrastructure and properties Ltd also launched their project in village Kot Behle, Sector 16, Panchkula. There are also some projects that were launched a few years back but have gained momentum in the recent price surge.
Prominent developer DLF had entered the Panchkula market in 2010 with a luxury residential project spanning 175 acres located on the Panchkula–Kalka Highway. The project was initially launched at price of ~2,000 per square foot, but these have now appreciated to over ~8,000 per square foot, showcasing the immense growth potential of this tranquil town.
Buoyed by the resounding success of The Valley, DLF decided to capitalise on the growing demand and launched a new project called The Valley Gardens in August 2022 in Panchkula. Spread over 34 acres, a limited collection of only 424 luxury independent floors, which is supplemented by ecosystem of The Valley. Property prices for The Valley Gardens witnessed a significant appreciation as well, soaring to ~9,000 per square foot within a short span of time. As per DLF’s annual results, the company sold independent floors in this project worth ~1,150 crore in FY 22-23.
In 2023, DLF launched The Valley Orchard, a collection of low-rise residences in Panchkula, nestled in the foothills of the Shivaliks and overlooking the Kaushalya river. Spanning over 15.833 acres (6.4 hectares), The Valley Orchard comprises a limited collection of only 512 residential units and green recreational areas.
It is adjacent to the 160-acre site of The Valley, a highly sought-after residential development in Tricity home to over 1,800 families. The Valley Gardens, DLF’s last launched project in Panchkula, spread over 34 acres.
According to DLF officials, Panchkula, in particular, has emerged as a sanctuary for those seeking a holistic lifestyle. Over the past three years, we’ve witnessed a surge in demand for our low-rise independent floors in Panchkula.
Many families from the Delhi NCR region seek luxurious living away from the urban hustle and bustle. “Families seeking a more peaceful and fulfilling lifestyle are drawn to the serene embrace of places like Panchkula. Additionally, discerning homebuyers are looking for exclusive addresses and a resort-like living experience. We have also observed significant interest and investment from NRIs in the region’s real estate market”, said the company official. TNS
