Chandigarh, April 27, 2023 (Kulbir Kalsi)
The residential rental market in Zirakpur is all set to touch new heights in 2023, says IBRF Gobal’s report.
Zirakpur is now amongst the most favoured when it comes to seeing positive growth in rentals and returns of residential real estate, thanks to multiple factors that have added to the charm of this ever-vibrant residential hub in Punjab and Haryana, report states further.
According to Vishesh Prakash of IBRF Global , the key findings of the report include that the rental market gained traction over the last three years; set to grow over 10% in 2023. The pProjects of A-grade developers drive growth and make Zirakpur a preferred choice. The rental yields at an all-time high, at par with the national average. The Dhakoli, Airport Road preferred choices for end-users and investors and 3-BHK and 2-BHK drive rental demand in the area.
The report findings also confirm that the city’s residential rental market, after sustained growth, is all set to get on to an all-time high growth trajectory.
It confirms that the city is the most preferred destination for locals and NRIs. Spurred by rapidly improving infrastructure and proximity to Chandigarh Airport, Chandigarh y, Panchkula and Mohali the Zirakpur is fast becoming the epicentre of all the action in the region. In fact, with the completion of Aero City Road, Zirakpur will become equidistant from Chandigarh, Mohali and Panchkula.
Vishesh Prakash further says, “As a micro-market, Zirakpur has been stealing a march over others as a leading regional residential hub. With grade-A developers offering consumer-centric products and projects, homebuyers are now considering the area, both for self-use and as a sound investment option. Zirakpur is now on track to becoming the numero uno residential destination in the region. This is evident from ever-increasing rentals and a spurt in demand which is expected to touch a new high this year.”
The quality of construction, maintenance of projects and the living experience of the residents are meeting the expectations of the end users, which has led to this regular increase in the rental values.
In fact Zirakpur is best for residential rentals as it comes from the lower rental compared to rentals in Chandigarh thus making it a superior choice, especially for those eyeing 2BHK or 3BHK units. With many companies turning to Zirakpur due to lower rentals, the prospects of return are higher in future for investors here.
Zirakpur’s highest rentals as per Locality:
| Dhakoli (2BHKs- 18-22k) (3BHKs- 18-30k) | Airport Road (2BHKs- 18-22k) (3BHKs- 20-25k) | VIP Road (2BHKs- 15-20k) (3BHKs- 18-30k) | Delhi Road (2BHKs- 14-22k) (3BHKs- 25-32k) | Patiala Road (2BHKs- 15-18k) (3BHKs- 16-22k) |
| Sushma Crescent | Sushma Valencia | Nirmal Chhaya | Sushma Grande | Trishla |
| Golden Sands | Sushma Joynest | Savitry Greens | The Eminence | GHB Splende |
| The Hermitage Park | Affinity Greens | Jaipuria Sunrise Greens | Green Lotus Avenue | Highland Park |
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