Overview of Sector 116, Mohali

Location and Amenities

Sector 116 in Mohali stands out as a top area offering a modern lifestyle with several amenities. It's well-connected to major parts of the tri-city, such as Chandigarh. The sector is close to the upcoming PR-6 road, DPS school, and the 200 ft airport road, making it handy for residents.

Property Types and Prices

• Flats and Apartments:

  • Flat prices in Sector 116, Mohali, vary from ₹ 30 lakhs to ₹ 73.9 lakhs.
  • The average flat price per square foot stands around ₹ 4,387 to ₹ 4,400.
  • Per square foot price for flats ranges from ₹ 3,700 to ₹ 7,800.

• Plots and Land:

  • Land is sold at rates from ₹ 5,400 to ₹ 6,250 per square foot.
  • You will find plots in different sizes, like 90 square yards, 130 square yards, and 150 square yards, often with gated community amenities including water, electricity, and recreation.

• Builder Floors and Independent Houses:

  • Prices for builder floors range from ₹ 3,950 to ₹ 5,950 per square foot.
  • Independent houses and villas come in various prices depending on the project and builder.

Price Trends

• Year-over-Year Growth:

  • Property values in Sector 116 have risen 3.36% in the past year.
  • Flats have appreciated by 27.5% last year, while land has gone up 16.5%.

• Long-Term Appreciation:

  • Flat prices have gone up 57.1% over the last 3 years and 87.2% over the last 5 years.
  • Land rates have seen a significant rise, with an increase of 79.4% in the past 3 years and 197.4% in the last 5 and 10 years.

Investment Potential

• The area is deemed a good buy by buyers and sellers due to its rising prices and expected future growth.
• Top banks offer loans up to 80%, and luxury features cost less, making it hot for investors.

Availability of Properties

• Over 666 properties are on the market in Sector 116, Mohali, containing apartments, plots, builder floors, and independent houses.
• Projects like SBP Group City Of Dreams, TDI Mohali, and Ansal API Golf Villas are present.

PropertyWala's Conclusion

Sector 116 in Mohali has a promising real estate market with affordable fancy features. It's got well-connected places like plots, flats, and houses, making it a top pick for both users and investors. With positive price trends and significant long-term increase, now is a good moment to buy or rent. However, stay alert to current market activities and use price trend tools to make smart choices.