In festive mode

Festival season is also a season of expectations for the realty sector as there is a significant uptick in the number of inquiries, site visits as well as finalising of sales in the property market. The micro-markets of Tricity, especially in the Mohali region, are well-positioned for growth due to favourable factors like infrastructure development projects, availability of new and ready-to-move-in inventory, GST cut, low repo rates and promise of a steady price appreciation.

“The real estate sector is a vital pillar of Tricity’s economic development, driving employment and infrastructure growth. With these strong fundamentals and festive optimism, the market is poised for a healthy and sustained revival. We anticipate this positive momentum to sustain well beyond the festival period,” says Piyush Kansal, Executive Director of Royale Estate Group.

The GST factor

One major factor driving optimism during the festive season in 2025 is the recent GST reduction on under-construction properties. With rates lowered to 5% for luxury homes and 8% for others. Industry mavens claim that this will have some effect on prices too, and discerning developers may sweeten the deal for the

buyers in order to boost sales.

infra push

Infrastructure development in the region, including projects like proposed Chandigarh-Mohali Metro, Aerotropolis, Mohali-Kurali bypass under the Bharat Mala project, have further enhanced urban appeal of several upcoming areas in the vicinity of the growth corridors.

“Focusing on the Punjab region, especially Mohali and cities like Ludhiana, we observe a robust infrastructural growth powering the revival of real estate market. These developments, combined with the positive festive environment, make this the perfect time to invest. The region’s balanced urban planning and strategic location make it a hotspot for both end users and investors,” says Adish Oswal, Chairman of Oswal Group.

Attractive returns

If end users find Tricity micromarkets attractive due to strong infra growth, investors are increasingly looking at these due to their potential for capital appreciation and rental yields. For example, residential property values in Mohali have seen an estimated 15-25% increase over the past two years, with some prime locations experiencing even higher gains. Industry experts from region gauge track this growth trajectory as follows:

Residential properties: Strong demand for 2- 3BHK apartments, with rental yields of 6-8% and appreciation rates of 10-15% annually.

Commercial properties: High demand for office spaces and retail outlets, with rental yields of 8-12% and appreciation rates exceeding 35% in premium locations.

Plots: Land prices are expected to appreciate by 12-15% CAGR in areas like the Bharat Mala Road corridor.

THe add on factor

Festive season also sees real estate developers come out with special offers, including discounts, flexible payment plans, and added amenities. “The time period from Diwali to New Year, is traditionally seen as a time of new beginnings and prosperity, which naturally encourages buyers to make important investment decisions. Reflecting this positive trend, we have successfully sold out the first phase of our newly launched project in Mohali, The Clermont, within just one month of its launch. Construction has already commenced. To further support buyers during this festive season, we have introduced attractive payment plan options, making it easier for customers to realize their dream home”, says Udit Jain, Director, ONE Group.

Luxury, a big market driver

Buyer preferences, too, are evolving, with a rising demand for premium and luxury segment homes, featuring modern amenities. “During the festive season, buyers are increasingly drawn to luxury homes as these properties offer not only superior comfort and quality but also serve as a symbol of success and prosperity,” says Umang Jindal, CEO of Homeland Group.

The festive season, thus, offers more than just celebration, it provides an opportunity for homeseekers to invest in their future. With developers ready to meet buyer expectations through flexible schemes and exclusive offerings, this Diwali is set to illuminate the real estate landscape for buyers and builders?