The city of Jalandhar is the oldest city in the state of Punjab. It is also one of the most urbanized centres for housing development in the country. The overall growth in demand for housing in the city has increased in the year 2015 and this is the direct result of the economic improvement in the city. The overall growth in demand for housing here has been prominent and the market conditions are now conducive for economic growth which was stalled for a long time. The nation was suffering from a recession and the inflation was also high. The overall growth in demand for housing in Jalandhar has emerged as a prominent new option for investment. In fact the latent demand emerged even during the recession phase but it is only now that there are a lot of buyers willing to invest in housing. The overall growth of property in the city has not only been witnessed in sales. There is a high demand for rentals as well. There are a large number of people today who are seeking flats and room for rent in Jalandhar.
Therefore all those who wish to move to the city should know about the following seven things about the city:
Despite being the oldest city in the state, Jalandhar has become a major urban city in the region. There is the old city which has been considered to be one of the most prominent centres of traditional lifestyle. However the city has expanded over time and it has emerged as one of the most sought after destinations for residence. The service facilities that are important to an urban city are all present here.
In the peripheral part of the city of Jalandhar lies the hub of industries which are considered to be the engine of growth of the city. The overall growth in demand for housing here has been pushed by the growth of these industries. After a long period of slowdown, the industrial sector of the city of Jalandhar is finally witnessing growth. This has also led to the rise in demand for room on rent in Jalandhar. The overall economic growth of the city is now feeding the real estate sector’s growth here.
Residential Hot Spot
The city has been a major residential hot spot for a long time now. The overall growth in demand for housing here has emerged prominently in the year 2015 because there are a large number of people who are willing to invest in property. However in the past few years, the city was undergoing a recession and hence the builders were not willing to invest. The situation has changed and houses are again in high demand here.
Rising Rental Hot Spot
With the demand for property for sale comes the demand for properties for rental too. The overall growth in demand for housing in the city has emerged prominently and the demand for house and room for rent in Jalandhar has also improved.
The city carries on the oldest tradition of the best Punjabi cuisine which can be found in the restaurants across the city.
As an urban centre, the city enjoys the presence of malls and retail spaces to offer the best modern lifestyle.
Affluence and traditions can be seen going hand in hand in Jalandhar.