According to 2011 census, Chandigarh, Mohali, and Panchkula boast a population of over 1.7M with Chandigarh alone showing a 22.3% increase in migrant population in 2011 Census. By investing in premium education infrastructure (Knowledge City) and luring IT firms based in Chandigarh with cheaper rentals, Mohali is quickly emerging as the hottest destination in Punjab for career and employment.

Panchkula, on the other hand, benefits greatly from its proximity to Chandigarh and has a strong base of professionals exploring career opportunities.

Jobs in Chandigarh 2017

Tricity is a big base of jobs related to BPO, IT, marketing, telecom, pharmaceutical, manufacturing, retail sector, business, teaching, and civic bodies. In addition to that, it is also visited by a large number of students for coaching and higher studies. This is a big reason behind growing demand of paying guests, rental homes, and independent flats in Chandigarh, Mohali, and Panchkula.

Migrants data – Chandigarh & Tricity

  • According to 2011 census, 6 out of 10 people in Chandigarh are migrants. 30% migrate for work while just over 4% shift for education. 18% have lived here for 1 to 4 years. 17% have lived in Chandigarh for 5 to 9 years.
  • 400 PGs operate in Mohali provide accommodation to 8000 individuals (data from 2016).
  • According to a 2014 survey, Chandigarh is ranked 4th in the top 50 cities identified globally as ‘emerging outsourcing and IT services destinations’.
  • According to a 2011 study, 15% seats in school hostels in Chandigarh remain empty because young students prefer staying in PGs.
  • A 2015 study from ICICI states that just IT Park, Chandigarh employs 25k professionals. The number is stated to climb 60k in near future. A big chunk of these professionals will not belong to Tricity.

Chandigarh PG data and facts

  • Over 400 PGs operate in Mohali that cater to 8000 students and working professionals. The number will double if we add rental homes.
  • With bigger employment base and student appeal, Chandigarh will have at least 3 times more rental accommodations.
  • With strong IT employment base, Panchkula will have at least 2 times more rental accommodations in comparison to Mohali.

Hence, we are talking at least 4800 PGs and rental accommodations in Tricity area.

Scope of rental business in 2017 – Tricity

After Delhi, Tricity is the biggest hub of education and employment in North India. Hence, it makes perfect sense to start a rental business to the region in 2017. In terms of future business potential, Tricity holds a promise for the rental accommodation for paying guest, rental homes and flats.

Top10consultants will bring more such research and stats in future. It will help you to discover more opportunities in online business and also help in lead generation.

 

 

 

 

 

Data sources:

  1. https://www.mygov.in/group/chandigarh-ut/
  2. http://www.hindustantimes.com/punjab/400-paying-guest-facilities-in-mohali-only-25-registered/story-LVZWIArjD3BGLbScXKOyBL.html
  3. http://www.hindustantimes.com/punjab/more-than-6-out-of-10-are-migrants-in-chandigarh-census/story-ZTTsnOLaAPYju2WKPeMJuO.html
  4. http://archive.indianexpress.com/news/tricity-school-students-prefer-pg-accommodation-to-hostels/841668/
  5. http://www.icicihfc.com/property_pdfs/Chandigarh_Residential_Report_Aug_2015.pdf

 

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