Omaxe upbeat over New Chandigarh

By: | Published: March 12, 2015 5:57 PM

Real estate major Omaxe is upbeat over New Chandigarh, an integrated township comprising an Edu City...

Real estate major Omaxe is upbeat over New Chandigarh, an integrated township comprising an Edu City, a Medi City and an International Cricket Statium coming adjacent to the existing city of Chandigarh.

During an interview here today, Rohtas Goel, Chairman, Omaxe said that “there are three cities coming up fast on the outskirts of Chandigarh. While Zirakpur coming up on Chandigarh-Ambala highway was catering to middle class, Mohali and Panchkula are attracting upper middle class. It is New Chandigarh that is few minutes’ drive from the plush sectors of Chandigarh that is coming up as a posh city”. The added advantage is that currently in Mohali and Panchkula residential plot rates ranged from Rs 50,000 to Rs one lakh per sq yard. Rates in Chandigarh are even higher starting from Rs one lakh per sq yard.

Goel said that for in comparison, New Chandigarh offered much better deals as prices are in the vicinity of about Rs 25,000 per sq yard. He observed that while New Chandigarh as a new destination makes a lot of sense for end users as it is just 10 minute drive from Chandigarh, it also is a wise decision for those parking funds for investment. Prices can shoot up easily from Rs 25,000 per sq yard to Rs 50,000 per sq yard but it would be difficult to double in locations where these were close to Rs one lakh a sq yard or above.

He said that other advantages would be the infrastructure like the 200 feet highway, now under construction linking New Chandigarh to Chandigarh, the wider inner roads, the Medi City, Edu City, the International Cricket Stadium coming up at New Chandigarh and its closeness to the Panjab University, the International Airport and the proposed Metro station. He said that Omaxe is so upbeat about the new city that it is developing over 1000 acres here. It has already offered 200 flats to public while 800 more are likely to be offered in next three months out of a total of about 3000 flats being constructed by the Company. He said that a Club has become operational at New Chandigarh. He claimed that Villas, floors and plots had received huge response from the public.

Replying to wide range of questions, Rohtas Goel who was here today said that “Punjab is the best state to do business with ease of all the states where Omaxe has projects. I cannot comment about Gujarat because we do not have a project there. However, Rajasthan too comes to close to Punjab when we talk of ease to do business. ” Omaxe currently has projects in 30 cities across seven states. When questioned about the affordable housing and vision of Housing for all by 2022, he said that it still needs clarity as there is no blue print of the lofty scheme. No palpable steps had been taken after announcement in Budget. “May be the Prime Minister, Narendra Modi has something concrete in mind.” He suggested creation of a Special Infrastructure Fund for Affordable Housing and a Housing Promotion Council on the lines of Export Promotion Council.

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