Once a quaint town known for its peaceful charm, Panchkula is witnessing a remarkable transformation in its real estate landscape. Property prices in this serene region are soaring, as homebuyers flock to embrace the beauty and tranquility that Panchkula has to offer. Many developers including DLF and the Motia Group, to name a few, have witnessed significant appreciation in prices for their projects.
DLF, one of India’s leading and listed real estate developers, entered the Panchkula market in the year 2010, with a luxury residential project The Valley. The project spanning 175 acres is located on the Zirakpur-Panchkula-Kalka Highway, and is home to about 1,400 families. As per industry sources, the project was initially launched at Rs 2,000 per square foot, and has now appreciated to a staggering Rs 8,000 per square foot, showcasing the immense growth potential of this tranquil town.
Buoyed by the success of The Valley, DLF decided to capitalize on the growing demand and launched a new project called The Valley Gardens in August 2022 in Panchkula. Spread over 34 acres, a limited collection of only 424 luxury independent floors was launched, which is supplemented by the ecosystem of The Valley. The property prices for The Valley Gardens witnessed a significant appreciation as well, soaring to Rs 9,000 per square foot within a short span of time. As per DLF’s annual results, the company sold independent floors in this project worth Rs 1,150 crore in FY 22-23.
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Trident Realty, another leading player, launched its township project, Trident Hill, in Panchkula in November 2022. Located in the foothills of the Shivaliks, Trident Hills is an urban living space that offers a lush, green landscape in a pristine environment. Offering holistic living, this eco-friendly premium residential development will have several ultra-modern features & amenities to suit the lifestyle of connoisseurs.
S K Narvar, Group Chairman, Trident Realty, says, “Panchkula in the Tricity region has captivated the interest of many homebuyers owing to its robust infrastructure, seamless connectivity, and natural surroundings. Amongst Tier-2 markets, Panchkula is rapidly emerging as a preferred real estate destination for homebuyers, thus driving the sound growth in the city’s residential market. Catering to the demands of modern homebuyers across the mid-segment, premium and luxury housing, the city is witnessing a surge in the demand for modern living residences.”
“The realty market of Panchkula holds immense potential for homebuyers & investors. It resonates with the preferences of new-age modern homebuyers seeking luxury living amidst serene surroundings. Considering the growing interest of homebuyers and the healthy demand, the residential market of Panchkula is witnessing an uptick in price appreciation, and it is likely to maintain a constant growth momentum ahead,” he adds.
The capital appreciation is also due to an array of infrastructure developments in and around Panchkula. The city has made significant strides in its infrastructure development, focusing on connectivity, education, healthcare, commercial centers, recreation, and utilities. These developments have enhanced the quality of life for the residents of Panchkula and have positioned the city as an attractive destination for both residents and investors.
“Panchkula’s real estate market is currently undergoing a remarkable surge, reflecting the increasing allure of this serene town. The soaring property prices and substantial appreciation witnessed by developers are testament to Panchkula’s emergence as a peaceful haven embraced by homebuyers in search of beauty and tranquility. Furthermore, the ongoing improvements in infrastructure have significantly enhanced the quality of life in Panchkula, solidifying its status as an attractive destination for both residents and investors. Panchkula’s evolution from a tranquil town to a thriving hub promises a harmonious fusion of nature and modern living, ensuring a prosperous future for its real estate market,” says Shashank Vashishtha, Executive Director, eXp Realty India.
The shift in homebuyers’ preferences towards peaceful, green, and lesser-dense areas is reshaping the real estate landscape not only in Panchkula but also in other parts of the country. As more individuals sought a quieter and healthier lifestyle, developers responded to the demand by creating sustainable, green communities that provided a respite from the chaos of major cities. This trend was not a passing fad but rather a transformational shift that was here to stay, revolutionizing the way people envisioned the concept of home.
Panchkula has evolved from a serene town to a thriving real estate hub, witnessing a significant appreciation in property prices. As the demand continues to soar, the future of Panchkula’s real estate market looks bright, promising a harmonious blend of nature and modern living for its residents.