Overview of Zirakpur

Zirakpur lies 12 kilometers east of Chandigarh and serves as a satellite town. Its real estate sector has seen noteworthy growth, credited to excellent connections and ongoing infrastructure projects.

Location and Connectivity

• Strategic Location: The town nestles at the base of the Shivalik mountains. To its north, it touches Chandigarh Tehsil; to the east, Panchkula Tehsil; to the south, Dera Bassi Tehsil; and to the west, S.A.S Nagar Tehsil.
• Infrastructure: Visitors and residents can easily access the Chandigarh International Airport, just a short 9-minute drive away. Recent completion of Aero City Road has improved links to Chandigarh, Mohali, and Panchkula.

Real Estate Market

Property Types and Prices

• Apartments: Average flat prices range from Rs 4350 to Rs 7000 per square foot. The common rate stands around Rs 5450 per square foot.
• Builder Floors: Prices span from Rs 3850 to Rs 6250 per square foot.
• Land: Rates vary from Rs 3550 to Rs 5900 per square foot.

Price Appreciation

• Historical Growth: Flat prices jumped 14.7% last year, 49.3% over the past three years, 55.7% in five years, and a mind-boggling 91.2% over ten.
• Builder Floors: Recently saw a rise of 41.4% annually and 67.8% over the last five years.

Rental Market

• Rental Rates: Homes for rent may increase by over 10% this year. A typical 2BHK in Zirakpur might cost just around ₹15,000 monthly. It’s cheaper than Chandigarh.
• Popular Locations for Rent:
  • Dhakoli Road
  • Airport Road
  • VIP Road
  • Delhi's National Highway
  • Patiala Road

Key Localities in Zirakpur

• Patiala Road: Selling for Rs 2400-2800 per sq.ft., renting costs Rs 6-7 per sq.ft.
• Peer Machula: Sold for Rs 3000-3300 per sq.ft. Renting ranges Rs 6-8 per sq.ft.
• VIP Road: Available for Rs 3000-3600 per sq.ft. with a rental of Rs 8-12 per sq.ft.
• Zirakpur Ambala Highway: Offered at Rs 3200-3800 per sq.ft. Renting Rs 9-11 per sq.ft.
• Dhakoli: Sold at Rs 2800-3200 per sq.ft. Rented at Rs 5-7 per sq.ft.

Infrastructure and Amenities

• Employment Hubs: Zirakpur is part of the Chandigarh International Airport Hub and the FEZ Industrial Area, contributing to significant job opportunities.
• Road Connectivity: PR10 comes to bypass the congested road junction in Zirakpur, bettering connectivity.
• Residential Amenities: Top neighborhoods feature green parks, play areas for children, and wide roads, appealing to both homeowners and investors.

PropertyWala's Conclusion

Zirakpur serves up a good deal for people buying properties or renting homes. Thanks to its strategic site, progressing infrastructure, and lesser rental costs than Chandigarh, it’s a strong choice for those looking for homes. The area has impressive price rises and anticipated rental value ups, making it a smart investment. But buyers may also want to check out present basic infrastructure issues that developers aim to tackle. Overall, Zirakpur aims to become a top residential spot in the area.