Commercial Property Boom in Panchkula Extension: Best Areas to Invest in 2024
Panchkula Extension, a rapidly growing region in Haryana, has become a prime destination for commercial property investment. Its proximity to Chandigarh, excellent infrastructure development, and burgeoning business environment have turned the Panchkula Extension into a hotspot for investors. As 2024 unfolds, several regional areas show immense potential for commercial growth, making it an attractive option for those looking to capitalize on real estate opportunities.
Why Panchkula Extension?
Panchkula Extension’s strategic location offers easy access to key cities like Chandigarh, Mohali, and Zirakpur. Developing new road networks, including the Chandigarh-Panchkula bypass and the expansion of NH7, has significantly reduced travel time, enhancing business connectivity.
Moreover, the Haryana government’s favourable policies, such as reduced stamp duty and commercial investment tax benefits, further boost investor confidence in this area.
Best Areas to Invest in 2024
Sector 23 Panchkula Extension: Known for its high-end commercial spaces, Sector 23 is an excellent location for retail and hospitality businesses. With its well-planned layout, ample parking, and upscale clientele, this area is perfect for those looking to open cafes, retail outlets, or showrooms.
Sector 19 Panchkula Extension Sector 19 is quickly developing as a business hub, particularly for startups and IT companies. Its affordable office spaces and coworking environments are ideal for young entrepreneurs and technology-based businesses.
Sector 24 Panchkula Extension This area is emerging as a significant commercial zone, especially for healthcare and educational institutions. Several new medical centres and schools are being planned here, creating opportunities for ancillary services like pharmacies, bookshops, and training centres.
PR7 Road Area Situated along the PR7 road, this locality is becoming a commercial corridor with a range of opportunities for warehousing, logistics, and retail chains. Its accessibility to major highways makes it ideal for companies looking for large spaces for commercial use.
Investment Benefits
High ROI: With increasing demand for commercial spaces and improved infrastructure, investors can expect high returns on investment in Panchkula Extension.
Government Support: Incentives from the state government, such as low stamp duty and simplified regulations for business setup, make it easier to start new commercial ventures.
Growing Economy: As Panchkula Extension develops into a prominent business hub, the local economy is seeing robust growth, attracting more investors and boosting property values.
FAQs
- What is driving the commercial property boom in Panchkula Extension?
The boom is driven by its strategic location near Chandigarh, improved infrastructure, favourable government policies, and a growing demand for business spaces in IT, healthcare, and retail sectors.
2. Which sectors offer the best investment opportunities in Panchkula Extension?
Sectors 19, 23, 24, and the PR7 road area are some of the best locations for investment in 2024, offering a range of commercial opportunities from retail to IT services and healthcare.
3. What kind of commercial properties can investors find in Panchkula Extension?
Investors can find various commercial properties, including office spaces, retail shops, showrooms, coworking spaces, and warehouses in Panchkula Extension.
4. Is Panchkula Extension a good option for small businesses?
Panchkula Extension is highly suitable for small businesses, especially in the IT, retail, and service sectors, thanks to its affordable office spaces and growing consumer base.
5. How is the government supporting commercial real estate in Panchkula Extension?
The Haryana government has introduced favourable policies, such as lower stamp duties, tax incentives, and improved infrastructure projects, making it easier for businesses to set up in Panchkula Extension.