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HindustanTimes Sat,02 Aug 2014

Best time to invest in SAS Nagar, say experts

HT Correspondent  Chandigarh, March 10, 2013
First Published: 19:02 IST(10/3/2013) | Last Updated: 19:04 IST(10/3/2013)

The two-day Hindustan Times Dream Home Fair-2013 concluded here on Sunday, proving to be a one-stop shop for potential clients and investors.

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The organisers explained that buying a home was an once-in-a-lifetime affair for most people, so they wanted a good deal. The fair was targeted the first-time buyers and home loan seekers.

"Most of the customers are looking for ready-to-move-in properties, which are available in Zirakpur and Panchkula at the moment, as construction is still underway for projects in SAS Nagar," said Kamaldeep Singh, sales executive for SAS Nagar-based Abode Realtors.

He suggested that SAS Nagar was the best place to invest for 2 to 3 BHK flats because the buyer had to just pay Rs. 5 lakh upfront and the bank would pay the easy monthly installments (EMI) on his or her behalf, while the builder would pay the interest till possession.

He added that this was an arrangement under the 'tri-party agreement' between the bank, customer and the builder and was beneficial to the buyer as the value of property also went up at the same time.

Harjinder Singh, sales associate of Omega Builders, informed that SAS Nagar was heading for the same realty boom as Gurgaon four years ago.

Singh further added that nine pan-India companies were already operating in SAS Nagar and the international airport that would soon come up would add to the growth prospects of the area.

Shefali Choudhary, sales associate with Accord Infra Developers Private Limited said that though the real estate business had stagnated for the past two years, the market had taken a turn for the better owing to renewed customer interest.

Faridbad-based Madhyam Buildtech Private Limited, which has started Chandigarh operations recently, was the only one selling commercial property.

"It is very difficult to find vacant space in the NCR region, so we are offering commercial space at the World Trade Center in Greater Noida," said Rahul Sharma, assistant sales manager of Madhyam builders.

The Taj Expressway had attracted investors to buy property in Greater Noida, he added.

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