The Chandigarh International Airport in Mohali was operational only on domestic basis after its launch in September 11, 2015. However, after one year, in this forthcoming September 26, 2016 international flights are commencing from the airport. Mohali Industries Association (MIA) feels that the international commutation from the airport will usher in good times for business as well as real estate investments.
According to them, the strategic location of the airport will be the primary demand driver for the investments. The increased foreign footfall along with the splurging domestic demand will make the region ideal for real estate investments. Hotel services and new businesses will sprout in Chandigarh giving positive indications for real estate growth in the city.
The whole development will pave way to the economy stability of the region. Already, the Indian IT giants Infosys is lined up to enter the fortunate city. As more companies are to flood in, there will be more job openings in the city. The improved global connectivity will shift the attraction of more international business to Chandigarh. Thus the land prices will seek for a hike.
The new outlook of the city will allure people to live in the city and the demand for housing, retail and office spaces will increase in the city. They authority believes that this will altogether help to revive the real estate market of the city. It was the MIA which had filed petition in the High Courts of Punjab and Haryana to push Airport Authority of India and Union Civil Aviation Ministry to take the decision.
After seven months of wait after filing the petition, their initiative shall be finally fruitful when Indigo Airlines will take off from Chandigarh to Dubai by next month. The authority said that the improved connectivity to the Gulf nations will attract significant investments to Chandigarh, also hoping that flights to European countries also shall be operational very soon.