Real talk: Zirakpur on road to revival

Q. How has the revival of property market in

Tricity area affected Zirakpur over the past year?

Increase in demand and limited supply in the Tricity area has caused marked increase in property prices here over the past few years. Zirakpur, that has new projects as well as existing inventory, has drawn homebuyers resulting in increased activity in the realty sector. This increased demand has seen price appreciation post-Covid. A 3 BHK apartment that was available for Rs 50-60 lakh during Covid time has crossed Rs 1crore price band now. In the past five years the prices here have jumped by around 60 per cent. The liveability quotient of the area is set to improve as MC has big plans for infrastructure development. With Metro first phase planned from Zirakpur the issue of traffic congestion will also be resolved in the next few years.

Q.What type of inventory can homeseekers find in Zirakpur?

Though primarily an affordable housing hub, Zirakpur now has several new projects in the premium and luxury segments, too, in the primary market. There is mixed development of high rise, low rise, commercial, plots, with state-of-the-art amenities. Zirakpur has every option to explore from investors to and users.

There are ready-to-move- in units as well, but in limited projects like Trishla City, Lotus Saksham, Uptown Skyla, Sushma.etc

Q.What are your new projects coming up in this area and what is the USP?

Trishla City on Patiala Highway is our main project in Zirakpur. It is based on resort living style and has ready-to-move-in inventory. Already 700+ families are residing here. Trishla group is going to expand in Banur, Rajpura and Panchkula soon with four upcoming projects. The first one in Banur will be the first society with 1,000 square yard plotting with all luxury amenities. Second project in Rajpura will have 1 BHK apartments. We also have projects lined up for Panchkula and MDC having ultra luxury apartments with 360° view .

Q. Builders now are more aware about environment friendly construction practices as well as building plans, how much of this do you follow in your projects?

In Trishla City we have provided a resort living ambience for our customers. There are dedicated green areas to ensure clean air for residents. We have planted more than 30,000 trees in the society. Even construction has been done with fly ash bricks and other eco friendly options.

Market Pulse

Mumbai sees highest-ever property registrations in 13 yrs

Mumbai had over 1.41 lakh property registrations in 2024 — the highest in 13 years — and an 11 per cent growth from 2023, according to a new report.

The revenue from property registrations through stamp duty collections grew by 12 per cent year-on-year, estimated at Rs 12,161 crore, compared to Rs 10,871 crore in 2023.

Residential properties constituted 80 per cent of the total registered properties, while non-residential assets accounted for the remaining 20 per cent, according to a report by Knight Frank India.

December witnessed 12,518 property registrations, contributing Rs 1,154 crore to the state exchequer surpassing the December 2023 figures of 12,285 registrations and Rs 933 crore in revenue. The premium housing segment saw significant traction. Properties priced at Rs 2 crore and above accounted for 23 per cent of total registrations in December, up from 18 per cent in December 2023. IANS

Housing sales up 7pc in 2024

Housing sales rose 7 per cent annually in 2024 across eight major cities to reach 12-year high at 3,50,613 units on better demand for premium homes amid stable mortgage rates and strong economic growth.

Knight Frank India Chairman and Managing Director Shishir Baijal noted that the Indian housing market saw a strong demand for homes priced between Rs 2-5 crore each. Hyderabad and Pune reached an all-time highs and Mumbai recorded a 13-year peak. “The higher ticket size segments drove momentum despite concerns of overheating, with the Rs 2-5 crore category witnessing an 85% annual growth, although the sub-Rs 50 lakh and Rs 50 lakh-1 crore segments saw declining or fatigued sales,” the consultant said. PTI