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New market focusing on budget price |

Real estate finally seems to shed its status which made investment option possible for home buyers. These days the developers have started focusing on making budget houses. These houses are developed to the cost approximately 20 lakhs to 40 lakhs.

Builders have started targeting at the end user’s. Builders/Agents are aiming to facilitate ready to move housing. These all the matter were generated so that buyer who is dependent on the home loan does not have to pay both monthly rental & installments of home loans at the same time.

These ready to  move houses are the best option and also have brought a change in the local realty market as the market have slowdown. From last few years, it has been seen that the builders and developers are building budget price segments. This is also true that small builders or local builders are targeting buyers in this budget price segments.

These houses are generally built-up in smaller size spaces. These are independent floors or independent houses. Basically, in tri-city, the most preferred housing option is the segmented plots. People buy plots and construct their houses on it. Generally, the housing options between the range of 20 to 40 lakhs are available in outskirts of the city or in semi-urban areas.

The only drawback people will see in these houses are that they are in limited number and lacks in attractive planning & infrastructure elements. If we say about the size of the plots then one can get 3 to 4 marla (yard) plots at a price of rupees 40 lakhs approximately. The plots prices on Kharar- Landran road starts at the rate of 16000-17000 per sq yards for plots of 300 to 350 sq yards. Prices are different according to the location.  Like in Derabassi, plot price range is from 10,000 to 20,000 per sq yard.

Mostly local buyers prefer plots and are most popular option among them but nowadays built-up houses are also being followed. The locality like Zirakpur and Kharar have such housing options and are available independent houses or floors. Buyers are opting for ready to move in houses as in plot segment construction takes up longer time.

The larger developers have not entered this segment yet, they are mostly focusing on apartments only. Mostly the greater Mohali area is the hub for apartment complexes and offers at a price of 20 lakhs to 40 lakhs for 2 BHK apartments.  In this budget apartments are the best bet for the end-user. These are the best option to choose and are available in all the locations around tri-city.

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