With a real estate major recently stepping up its operations in Mullanpur by opening bookings for plots, there is a spurt in interest in the scenic village near Chandigarh. Mullanpur, being developed as another satellite township and even being touted as "New Chandigarh", has now stolen march over Zirakpur as an investment destination in the periphery of the city.
At the recent phase of bookings for plots measuring 350 and 500 square yards by realty giant DLF, inquiries reveal that the company has witnessed a heavy demand. Plots measuring 500 square yard (1 kanal) are priced between Rs 1.25 crore and Rs 1.50 crore here, compared to Rs 8 crore and more for plots of the same size in Chandigarh.
What has majorly worked in Mullanpur's favour is that it is one of the top urban projects for Greater Mohali Urban Development Authority (GMADA).
Speaking to Newsline, GMADA Chief Administrator Sarvjit Singh said major investments flowing into Mullanpur are indicative of "collective wisdom".
"We have developed a master-plan for it, and it is going to be the best settlement around Chandigarh real estate," said Singh. "It has a low-density population, two urban estates, separate zones for industry, education, medical facilities, commercial establishments, mixed land use and a six-lane road. We are also keeping provisions for the Metro to be extended there," he added.
At the recent phase of bookings for plots measuring 350 and 500 square yards by realty giant DLF, inquiries reveal that the company has witnessed a heavy demand. Plots measuring 500 square yard (1 kanal) are priced between Rs 1.25 crore and Rs 1.50 crore here, compared to Rs 8 crore and more for plots of the same size in Chandigarh.
What has majorly worked in Mullanpur's favour is that it is one of the top urban projects for Greater Mohali Urban Development Authority (GMADA).
Speaking to Newsline, GMADA Chief Administrator Sarvjit Singh said major investments flowing into Mullanpur are indicative of "collective wisdom".
"We have developed a master-plan for it, and it is going to be the best settlement around Chandigarh real estate," said Singh. "It has a low-density population, two urban estates, separate zones for industry, education, medical facilities, commercial establishments, mixed land use and a six-lane road. We are also keeping provisions for the Metro to be extended there," he added.
Salil Taneja, a real estate investor based at Mani Majra agreed that planned development is Mullanpur's biggest USP. "The development in Zirakpur is haphazard, and around it are small villages of Punjab like Baltana, Dhakoli etc, which again have witnessed an unplanned growth. With its close proximity to Chandigarh, Mullanpur offers much scope for appreciation of investment," he pointed out.
Those who have invested here, of course, are happy with their decision. Puneet Maini, a businessman residing at Sector 35, has purchased a one-kanal plot here. "We will have to wait for construction, though. It will take about four years for the area to be developed well," he said.
News source: indianexpress.com
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