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Mortgage Market Overview - Tricity (2016) : 23 September2017

The mortgage market in Tricity (Chandigarh, Mohali, Panchkula) is estimated at ₹350 crores in size. The top players, HDFC Bank and ICICI Bank, control 42% of the market, while regional banks control the remaining 58%. Prospective mortgage clients include doctors, corporate executives, and self-employed professionals. Property rates vary by location, from ₹1.5-1.6 lacs/sqyd in North Chandigarh to ₹20-30,000/sqyd in Zirakpur. The presence of IT industries and a proposed airport are driving growth across the region. Luxury apartments range from ₹

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Ramneet Parmar
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124 views

Mortgage Market Overview - Tricity (2016) : 23 September2017

The mortgage market in Tricity (Chandigarh, Mohali, Panchkula) is estimated at ₹350 crores in size. The top players, HDFC Bank and ICICI Bank, control 42% of the market, while regional banks control the remaining 58%. Prospective mortgage clients include doctors, corporate executives, and self-employed professionals. Property rates vary by location, from ₹1.5-1.6 lacs/sqyd in North Chandigarh to ₹20-30,000/sqyd in Zirakpur. The presence of IT industries and a proposed airport are driving growth across the region. Luxury apartments range from ₹

Uploaded by

Ramneet Parmar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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Mortgage Market Overview Tricity

(2016)

23 September 2017
Mortgage market in Tricity is consolidated at the top by key players

Mortgage Market Share By Key Players


(2016)

25%
HDFC Bank
ICICI Bank
58% Others
17%

The total mortgage market size in Tricity is estimated to be ~350 cr0res


Mortgage market in the Tricity is consolidated at the top and fragmented at the bottom
Major players including HDFC bank and ICICI bank accounting for ~42% of the market share in 2016
Mid-sized and regional players including SBI, PNB, Axis, Induslnd, LIC Finance etc accounts for 58% of market
share in 2016
Prospective clients of the mortgage market include doctors, senior corporate executive from IT industry, and self
employed non professionals (SENP)

Source: ICICI Property Services Group 2015


Property rates of units in prime residential markets of Chandigarh City

Location Average Capital Values (/ sq.yds.)

North Chandigarh (Sector 4 - 11) 1.50 lacs - 1.60 lacs

Middle part of Chandigarh (Sector - 21, 22, 23, 27, 32 -


1.30 lacs - 1.40 lacs
37)

South Chandigarh (Sector 43 - 65) 1.25 lacs - 1.35 lacs

Growth Stimulators

Capital and administrative centre for both the states of Punjab and Haryana. Well planned development and high quality
infrastructure
Presence of a dedicated IT / ITeS hub, Rajiv Gandhi Chandigarh Technology park (RGCTP) with current employment
estimates of 25,000 professionals. In future, the figure of directly employed professionals is expected to touch around
60,000, which in turn will boost the real estate demand

Source: ICICI Property Services Group 2015


Property rates of units in prime residential markets of Mohali and Greater
Mohali

Location Average Capital Values (/ sq.yds.)

Mohali (Sector 61 - 71) 75,000 - 90,000

Greater Mohali 50,000 - 60,000

Aerocity 20,000 - 30,000

Growth Stimulators

The location of the proposed international airport of Chandigarh in this region, is seen as a catalyst for growth
Presence of IT SEZ and demand flowing in from the professionals operating from the companies located in Sectors 72-75.
Demand from buyers whose business is settled in Ludhiana and Jalandhar
Proximity and good connectivity with Chandigarh with an extensive network of roads. As most of the land in the Union
Territory is developed, Mohali and Greater Mohali also serve to accommodate the spill-over housing demand from
Chandigarh, while residents are able to enjoy social amenities and facilities of Chandigarh

Source: ICICI Property Services Group 2015


Property rates of units in prime residential markets of Panchkula

Location Average Capital Values (/ sq.yds.)

Sectors 2, 6 12 75,000 - 90,000

Sector 21 45,000 - 60,000

Sector 25, 26, 27, 28 25,000 - 40,000

Sector 20 (Group Housing) 3,000 6,000/ sq. ft.

Growth Stimulators

Well developed road network and infrastructure, proximity to Chandigarh and other suburbs
Proposed metro connectivity

Source: ICICI Property Services Group 2015


Property rates of units in prime residential markets of Zirakpur

Location Average Capital Values (/ sq.yds.)

Zirakpur 20,000 - 30,000

Growth Stimulators

Proximity to all the three highways is a growth driver. Moreover, the 4-lane flyover in Zirakpur helps in easing out the
heavy traffic flow. Planned widening of road network will further boost the infrastructure
Heavy demand from the middle income service class

Source: ICICI Property Services Group 2015


Luxury apartment rates in Tricity

Location Average Rates ()

JLPL Mohali (Sector 66) 1,000,000 12,500,000

ATS Cassa Espana (Sector 121) 9000,000 15,000,000

Taj Towers (Sector 44) 7600,000 8500,000

Homeland Height (Sector 70) 15,000,000

Mullanpur New Chandigarh (Omaxe Lake) 15,000,000 23,000,000

Ambika Florence 14,000,000 18,500,000

Source: ICICI Property Services Group 2015

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