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9650138844Buying Property
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What makes Mohali Tricity a good place to buy property?
Mohali Tricity (Mohali, Chandigarh, Panchkula) is known for its planned infrastructure, excellent connectivity, and rapid development. The region offers a high quality of life, proximity to IT hubs, top educational institutions, and a safe environment, making it ideal for families and professionals.
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What are the popular residential areas in Mohali Tricity?
Some of the most sought-after residential areas include Sector 68, Sector 70, Aerocity, Kharar, and Zirakpur. These localities offer modern amenities, good schools, hospitals, and easy access to Chandigarh and Panchkula.
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Is Mohali Tricity a good place for real estate investment?
Yes, Mohali Tricity is considered a real estate hotspot due to its rapid urbanization, growing job opportunities, and increasing demand for both residential and commercial properties. Property values have shown steady appreciation, making it attractive for investors.
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What types of properties are available in Mohali Tricity?
You can find a wide range of properties including residential plots, apartments, villas, independent houses, commercial spaces, and office complexes. There are options for every budget and requirement.
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What are the legal steps to buy property in Mohali Tricity?
The process includes verifying property documents, checking RERA registration, signing a sale agreement, paying stamp duty and registration charges, and completing the property registration at the local authority. It is advisable to consult a legal expert for due diligence.
Investing in Real Estate
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Is it better to invest in Mohali, Chandigarh, or Panchkula?
All three cities have their own advantages. Mohali offers modern townships and affordable options, Chandigarh is known for its premium properties and planned sectors, while Panchkula provides a peaceful environment and good connectivity. Your choice should depend on your budget, lifestyle, and investment goals.
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What is the rental yield in Mohali Tricity?
Rental yields in Mohali Tricity typically range from 2.5% to 4.5% per annum, depending on the location, property type, and amenities. Areas close to IT parks, universities, and commercial hubs tend to offer higher returns.
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Are there any upcoming infrastructure projects in Mohali Tricity?
Yes, several projects like the Mohali International Airport, new expressways, metro proposals, and IT City development are boosting the region’s growth and property values.
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What documents are required for property purchase in Mohali Tricity?
Key documents include the sale deed, title deed, approved building plan, RERA registration, encumbrance certificate, and NOC from relevant authorities. Always verify documents with a legal expert before purchase.
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Is it easy to rent out property in Mohali Tricity?
Yes, with a growing population of students, professionals, and families, there is strong demand for rental properties in Mohali Tricity. Well-located and well-maintained properties are usually rented out quickly.
Renting & Property Management
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What should a rental agreement in Mohali Tricity include?
A rental agreement should mention rent amount, security deposit, duration, notice period, maintenance responsibilities, and any society rules. It should be signed by both parties and ideally registered for legal validity.
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How do I find good tenants in Mohali Tricity?
Screen tenants by checking their background, employment, and previous rental history. Many owners use local brokers or online platforms to find reliable tenants. Always verify documents and references.
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What are my responsibilities as a landlord in Mohali Tricity?
You must maintain the property, address repairs, ensure safety, and comply with local laws. Timely return of security deposit and clear communication with tenants are also important.
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How often should I inspect my rental property?
It’s advisable to inspect your property every 6 months or at the time of tenant change. Always give prior notice to tenants before visiting.
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What should I do if a tenant defaults on rent?
First, try to resolve the issue amicably. If the problem persists, issue a formal notice as per the agreement. For continued default, you may need to seek legal recourse through the Rent Controller or local authorities.