Here Are Mohali’s Most Searched Residential Neighbourhoods Online: Check Our Valuable Insights

Located in close proximity to Chandigarh, Mohali has emerged as a strong contender of growth and opportunity in the region, with its real estate segment standing out as a focal point. Over the past decade, Mohali’s real estate landscape has undergone a profound shift, transforming from a tranquil suburb into a bustling cityscape known for its thriving residential offerings. Primarily recognised as an extension of the tri-city area along with Chandigarh and Panchkula, Mohali has today become as a hotspot for residential development with improved infrastructure and a growing economy.

Growth Contributors

The city’s residential sector has flourished on the back of robust infrastructure development, connectivity enhancements, and a proactive approach to urban planning. Mohali’s strategic closeness to Chandigarh and major highways make it an attractive option for businesses looking to set up offices and residents seeking accessible facilities. Consequently, with the demand for quality living spaces growing, the city has witnessed a proliferation of residential projects ranging from affordable housing to high-end luxury developments.

Thanks to its burgeoning residential market, Mohali has earned a spot amongst the top 20 cities ranking announced in the September 2023 IRIS Index, Housing.com’s monthly index that tracks the online property search volume of high-intent homebuyers.

The city’s appeal lies not only in its well-planned layouts but also in its integration of modern amenities, making it an attractive destination for families, professionals, and investors alike.

Where Are People Looking to Buy a Home in Mohali?

The online search trends for homebuyers in Mohali show that a large share of the search queries were focussed on locations such as Kharar, Sector 115 and Shivalik City. Other locations such as Sector 123 and Sector 70 also received a substantial number of queries.

These localities in Mohali are favoured by homebuyers for distinct reasons. Kharar enjoys excellent connectivity to Chandigarh as well as to major highways and transportation hubs. It offers a range of affordable housing options, making it an ideal choice for those seeking budget-friendly homes. Presently, the prices here are quoted around INR 3,600/sqft to INR 3,800/sqft. On the other hand, Sector 115 is known for its well-planned layouts with ample green spaces and modern amenities. The sector’s proximity to IT hubs and commercial areas has made it particularly attractive to professionals. The residential prices here hover around INR 3,000/sqft to INR 3,200/sqft. Meanwhile, Shivalik City stands out for its upscale and luxurious housing options. The area offers premium amenities, catering to the preferences of those seeking a sophisticated lifestyle. The prices here range between INR 4,000/sqft to INR 4,200/sqft.

What type of homes and budget range are buyers looking at?

Majority of the searches are concentrated around 3 BHK homes, with budget preferences in the INR 50 lakh and below category.

This inclination signifies a demand for residences that offer a balance between space and affordability. The popularity of 3 BHK configurations suggests a focus on accommodating the needs of families or individuals seeking additional rooms for purposes such as home offices or guest quarters. The budget preference of INR 50 lakhs and below underscores a sensitivity to cost, highlighting a market where cost-effectiveness and value for money play pivotal roles in decision-making.

Outlook

Going forward, Mohali's residential real estate market appears promising with the city's proactive administration continuing to invest in infrastructure, ensuring that the overall development keeps pace with the rising demand for housing. The proposed metro connectivity will further enhance Mohali's appeal, opening up new avenues for growth and investment. Keeping future growth prospects in view, stakeholders would do well to adapt to changing trends in the real estate sector and embrace sustainable practices.

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