The Mall Effect: Changing Zirakpur's Real Estate Scene
Zirakpur's shift from a quiet suburb to Punjab's top real estate hotspot isn't by chance. The smart building of shopping malls and retail centers has made a big change, driving up the demand for homes to new heights.
Post-Pandemic Retail Strategy Changes Housing Demand
The pandemic changed how developers look at smaller cities. Big retail brands now see Zirakpur as a key spot because people moved to living in different places during COVID-19. Prateek Mittal from Sushma Group says that both international and local brands are looking for space in big cities, causing huge growth in both commercial and residential areas.
Sushma Group's big 350,000 sq ft project in Zirakpur shows this trend. It has 150,000 sq ft planned for delivery.
Commercial Growth Boosts Residential Investment
Zirakpur becoming a commercial hub directly boosts home demand. Shops, offices, and fun places make the city more attractive to people buying homes. This growth creates a cycle:
- Close to Shops: Residents can easily go to places like Decathlon.
- Jobs: IT areas and offices bring in workers.
- Better Life: Fun spots improve the quality of life.
The Affordability Edge
Developers are offering affordable housing options in Zirakpur. The price range of ₹4,000 to ₹6,000 per square foot provides excellent value compared to Chandigarh's higher range of ₹8,000 to ₹12,000. This pricing attracts both new buyers and investors.
Infrastructure Boosts the Effect
The PR7 Airport Road makes connections better, and the planned metro will increase demand even more. These improvements help both commercial and residential growth, making long-term value.
Future Outlook: A Successful Partnership
Zirakpur's mix of shopping malls and homes isn't just a chance. It's a planned strategy where malls and residential areas help each other, creating a strong community that helps investors, residents, and businesses.