Zirakpur's Middle-Class Housing Market Outpaces Mohali's Luxury Market in Resale Speed
Zirakpur's real estate scene is catching eyes for its middle-class housing segment, which is seeing faster resale rates compared to Mohali's luxury market. Properties priced between ₹50-60 lakhs in Zirakpur are experiencing a 22% quicker resale rate than Mohali's ₹1 Cr+ luxury properties, mainly due to affordability and strong rental demand.
Main Drivers Behind Zirakpur's Real Estate Boom
Affordability: Zirakpur offers budget-friendly housing options for the middle-income group buyers. Prices are cheaper, ranging from ₹5,000 to ₹7,000 per square foot, compared to Mohali's rates of ₹8,500 to ₹15,000 per square foot. A standard 2BHK apartment in Zirakpur costs around ₹40-50 lakhs, while in Mohali, it can range from ₹70 to ₹90 lakhs.
Rental Demand: The city's closeness to IT hubs and the rising demand for co-living spaces and PGs are key factors. This demand leads to higher rental yields, with Zirakpur offering 8-10% compared to Mohali's 6-8%.
Final Thoughts
Zirakpur's strategic location and infrastructure development have made it a prime spot for real estate investment, especially in the middle-class segment. The affordable pricing and high rental returns make it a great choice for both homebuyers and investors.