Punjab Government plans to sell Mullanpur as New Chandigarh

The recent brouhaha about renaming the rural stretch Mullanpur to New Chandigarh has everyone talking about. The decision of Punjab government to rename the area hasn’t gone down too well with the Haryana Chief Minister, who thinks it an unethical ploy to sell the place using false advertising.

Unethical or not, the renaming can be best viewed as an attempt of the government to cash in on the popularity of Chandigarh. One look at the place and you are sure that it is going to go down in the history as an urban legend. In the midst of vast expanse of barren agricultural land, a high-rise commercial tower rises like sore thumb. Not a pretty sight, but this is soon going to become a more prevalent realty of this place.

According to estimates of the government, around 3 lakh inhabitants will call the New Chandigarh their home in the next 17 years. The Chandigarh-Mullanpur road is being projected as the ticket to the development of New Chandigarh. Often referred to as the unwanted child of Chandigarh, Mullanpur, now New Chandigarh is spread across 15,000 acres and if the Punjab government has its way, the place will have at least 17 high-rises.

According to the Mullanpur Local Planning Area Master Plan, the place will be divided in 20 sectors. It will be developed as waterfront urban area with three main rivulets the Jayanti Devi ki Rao, Siswan and Patiala ki Rao, flowing through the LPA. As Chandigarh spoon feeds its new neighbor, the question rises that will things improve for better or all the efforts will go down in drain. Everyone knows that despite tall claims of Bhiwadi being the next Gurgaon, there is hardly any similarity between the two. Other than the industrial belt that it is known for, Bhiwadi hasn’t really attracted the end buyer to invest here and the vacancy rates are quite high.

Currently, people looking for alternatives to Chandigarh find Mohali as the best place to invest in. A flat in Mohali costs half the price of a flat in Chandigarh and that too without compromising on too much quality and facilities. Whether New Chandigarh’s development is going to change the buyer sentiment is something that is best left to time to answer.

Views: 48

Comment

You need to be a member of Real Estate Investing - Investment Articles Forum Tips Clubs to add comments!

Join Real Estate Investing - Investment Articles Forum Tips Clubs

Reviewed Investing Websites and Software

© 2017   Created by Matt Gerchow.   Powered by

Privacy Policy  |  Report an Issue  |  Terms of Service