Panchkula’s realty market booms with remarkable increase in property prices

financialexpress.com:

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