15RE01A.qxd 9/14/2012 5:05 PM Page 1 CHANDIGARH | SATURDAY | 15 SEPTEMBER 2012 Baddi in Himachal and Mullanpur in Punjab are the two areas that were projected as bright realty destinations by the respective state governments. While one has been on the block for a few years, the other is the rising star. With both slated to be a part of the proposed Chandigarh Capital Region, let's take a look at the realty fortunes of these two areas AREA WATCH: BADDI & MULLANPUR PRICE INDEX PANCHKULA-II Prices in ~/sq ft Tale of two ‘cities’ EYE ON FUTURE: Baddi’s large inventory of residential units will keep the realty market vibrant, while international-level townships coming up in Mullanpur(right) hint at its ‘golden’ future GEETU VAID & AMBIKA SHARMA Baddi in Himachal and Mullanpur in Punjab are almost rubbing shoulders with each other, thanks to the Mullanpur-BaddiSiswan road. The two areas have a lot of similarities on the realty turf. Proximity to Chandigarh and its satellite towns — Panchkula and Mohali — is one factor and strong financial backing by government is the other. Besides, both were projected as the flagship projects of the respective state governments, making these attractive realty destinations — Baddi, by virtue of being a part of the BaddiBarotiwala-Nalagarh (BBN) industrial belt where the central government’s industrial package had lured a large number of industries. This employment-generating pharma hub was expected to have a booming realty scene with the demand for residential, commercial and office space shooting steeply. Mullanpur’s claim to fame, on the other hand, lies in it being the first Eco township of Punjab. Starting off with a well-laid and detailed master plan, it has blossomed not only into ‘New Chandigarh’ but also into Punjab’s showcase destination over the past three years. Deputy Chief Minister Sukhbir Badal recently okayed the extension plan of Mullanpur, besides giving the green signal to PUDA to acquire more land for its proposed project and make way for developing the area as a magnet for futuristic development with state-of-the-art facilities. But in spite of the similarities, at present it apeears to be a case of contrast as real estate values have taken a hit in the Baddi area, while Mullanpur has seen steady appreciation over the past few months. While hardly any new residential projects have been launched in Baddi, Mullanpur has biggies like DLF and Omaxe, besides GMADA and groups like Altus etc unloading their ambitious township projects. The buyers are fewer in Baddi, BRISK BUSINESS: Property dealers’ shops can be seen dotting the road to Mullanpur as buyers are thronging the area while homes are selling like proverbial hot cakes in New Chandigarh. DLF that recently launched its independent floors in Hyde Park in Mullanpur reportedly had a 100 per cent sale within a matter of days, claimed Rakesh Kerwell, Director, North, of the group. GMADA’s Eco City project had elicited a tremendous response last year and currently the prices are in the range of Rs 23,000 to 30,000 per sq yd and apartments are in the Rs 60-80 lakh bracket, depending on the size and developer. An internationallevel cricket stadium, 150acre Medi-City and educational institutions are some of the projects that will make this area a realty goldmine in the next few years. Baddi’s bane The main reason for Baddi’s poor report card of has been cited as the expiry of the 2003 central industrial package for BBN in March 2010. A number of industries have packed their bags and moved on, leaving the doors open for realty slump in the belt. Though the BBN was earlier being pegged as an upcoming realty destination, the area has failed to come up to the expectations of the people working here. Thousands of industry executives commute daily from Chandigarh and its periphery to work in the several industrial units of Baddi. There are as many as 38,790 industrial units in Himachal at present in which an investment of Rs 16,287 crore has been made and 2.67 lakh persons have been provided employment. As many as 70 per cent of these industries have come up in the BBN and the investment figures run over Rs 30,000 crore. Though efforts were made to develop the BBN area as a planned industrial cluster with space earmarked for residential, industrial and commercial pockets, its non-implementation has led to haphazard growth, thus leaving little scope for planned development. Poor infrastructure support has been the bane of this area, says J.S Ahlawat of Ahlawat Developers that is bringing up Himachal One project in Baddi. “The expectations regarding housing and civic amenities of the industries and the workforce Continued on p2 SECTOR 11-12 10,000 to 11,000 SECTOR 12-A 9,000 to 10,000 SECTOR 14 7,700 to 8,000 SECTOR 15 8,000 to 10,000 SECTOR 16 9,000 to 10,000 SECTOR 17 8,500 to 9,000 SECTOR 18 8,000 to 8,800 SECTOR 19 3,500 to 5,000 SECTOR 20 Plots 6,000 to 7,000 Flats 3,000 to 4,500 PRICE TREND: Negative. Prices are likely to dip further, up to 5 to 7 per cent over the next few months. Source : Nirmal Infrastructures :firstname.lastname@example.org Please note : The prices are indicative only and may vary as per the plots size, approach road, location etc.
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