Best Places to Buy Property in Chandigarh for NRIs
For Non-Resident Indians (NRIs) looking to invest in Indian real estate, Chandigarh stands out as a prime destination. With its well-planned infrastructure, high quality of life, and steady appreciation in property values, Chandigarh has become one of the most attractive cities in North India. Whether you’re looking for a luxurious villa, a modern apartment, or a high-yield investment property, Chandigarh real estate offers a wealth of options.
In this guide, we will explore the best places to buy property in Chandigarh and what makes each locality unique for NRIs.
Why Choose Chandigarh for Property Investment?
Chandigarh is not just a city; it’s a vision realized by French architect Le Corbusier. Known for its clean roads, organized sectors, green spaces, and safety, Chandigarh ranks high on the livability index. Here are some reasons NRIs are increasingly eyeing Chandigarh property:
- Planned Infrastructure: The city is divided into well-organized sectors, making navigation and living convenient.
- High ROI: Real estate in Chandigarh has seen consistent growth in property values.
- Connectivity: Excellent road, rail, and air connectivity, including an international airport.
- Quality of Life: One of the highest per capita incomes in India, excellent education, and healthcare facilities.
Top Localities to Buy Property in Chandigarh
Let’s dive into some of the most promising sectors and areas for property investment in Chandigarh:
1. Sector 5, Chandigarh
Why it’s great: Known as one of the poshest localities, Sector 5 houses top bureaucrats, politicians, and business tycoons. It offers grand villas and independent houses.
Property Type: Luxury bungalows and kothis.
Ideal For: NRIs looking for premium Chandigarh real estate with a prestigious address.
2. Sector 9, Chandigarh
Why it’s great: Another upscale neighborhood, Sector 9 offers a mix of modern homes and old-world charm. It has great connectivity to Sector 17 (the commercial heart) and other key areas.
Property Type: Independent houses, duplexes, and a few high-end apartments.
Ideal For: NRIs wanting to stay close to the city center.
3. Sector 17, Chandigarh
Why it’s great: Known as the commercial and cultural hub of the city, it’s ideal for those looking to invest in commercial property or rent out to professionals and businesses.
Property Type: Commercial spaces, retail shops, office spaces.
Ideal For: NRIs interested in rental income from commercial real estate.
4. Sector 35, Chandigarh
Why it’s great: Offers a balanced mix of residential and commercial spaces. This sector has a high demand for rental accommodations due to its proximity to IT offices and colleges.
Property Type: Builder floors, apartments, and some commercial shops.
Ideal For: NRIs looking for high rental yields and moderate capital appreciation.
5. Manimajra
Why it’s great: Located on the city’s periphery, Manimajra has grown rapidly in recent years. With several new projects and affordability compared to central Chandigarh, it’s popular among young professionals.
Property Type: Apartments and residential plots.
Ideal For: NRIs with a mid-budget looking for growth potential.
Emerging Areas Near Chandigarh Worth Exploring
Chandigarh’s real estate potential doesn’t end at its borders. Nearby cities like Zirakpur, Mohali, and Panchkula are witnessing a real estate boom and are great alternatives for NRIs.
6. Zirakpur
Why it’s great: Just minutes from Chandigarh Airport, Zirakpur is developing rapidly with multiple high-rise residential and commercial projects.
Property Type: Affordable apartments, penthouses, and commercial complexes.
Ideal For: NRIs seeking modern amenities at a more affordable price point.
7. Mohali (SAS Nagar)
Why it’s great: A hub for IT and sports, Mohali has become a top choice for professionals and investors alike. Sectors like 66, 67, and Aerocity are in high demand.
Property Type: Villas, apartments, and plotted developments.
Ideal For: NRIs who want long-term capital growth and rental income.
8. Panchkula
Why it’s great: A planned city in Haryana, Panchkula shares its border with Chandigarh and offers serene living with less congestion.
Property Type: Independent houses, builder floors, and gated communities.
Ideal For: NRIs looking for peaceful living and steady appreciation.
Tips for NRIs Buying Property in Chandigarh
- Know the Rules: NRIs can buy residential and commercial properties but not agricultural land in India.
- Use a Reputed Agent or Builder: Always deal with RERA-registered builders and consult legal professionals to verify documents.
- Check for NRI-Specific Services: Some developers offer customized services for NRIs, including virtual tours, online documentation, and payment flexibility.
- Consider Property Management: If you won’t be in India often, hiring a property management service can help with tenant screening, rent collection, and maintenance.
- Stay Updated on Taxation: Understand the tax implications on rental income and capital gains.
Chandigarh Real Estate Market Trends
- Steady Appreciation: Despite national slowdowns, Chandigarh property has shown resilience with steady growth.
- NRI Demand: Post-pandemic, there’s been a surge in NRI interest in luxury and gated communities.
- Smart Homes: Many new projects now offer smart home features, green building certifications, and modern amenities.
Conclusion
Chandigarh combines the charm of a serene lifestyle with the promise of high investment returns. Whether you’re an NRI looking for a future home, a retirement retreat, or an income-generating asset, Chandigarh real estate has something to offer. By choosing the right locality that matches your budget and goals, you can make a secure and rewarding property investment.
So, start exploring the vibrant and promising world of Chandigarh property today – a perfect blend of modern living, natural beauty, and financial growth.
Looking for Help?
If you’re an NRI exploring Chandigarh real estate, Housewise.in can assist you in managing your property for renting as well as selling. Get in touch with our expert team to make your property ownership smooth and hassle-free. Also read Best Places to Buy Property in Kochi: A Guide for NRIs
Pryank Agrawal is the Founder and CEO of Housewise, a leading property management startup serving customers across 34 countries with operations in 13 Indian cities, including Pune, Bengaluru, Hyderabad, Chennai, Delhi NCR, and Mumbai. An engineering graduate from IIT Roorkee, Pryank brings extensive experience from the software industry. His passion for leveraging technology to solve real estate challenges led him to establish Housewise, simplifying property management for homeowners worldwide. After persistent requests from existing customers to address other challenges faced by Non-Resident Indians, he founded MostlyNRI, a dedicated portal assisting NRIs with services such as taxation in India, degree attestation, certificate procurement, RTO and banking-related requests, will and inheritance matters, and much more.