Even the farmers of this village, who till now used to earn their livelihood through dairy farming, could now be seen flaunting their swanky cars be it Tata Safari or Bolero. With the real estate development going on full swing in Mullanpur and its surrounding villages, the farmers are getting huge prices for their land holding.
According to reports, Mullanpur and its surrounding areas have caught the fancy of big real estate players.
DLF, one of the leading real estate players, is reported to have purchased around 200 acres of land near Mullanpur and the company is looking to purchase more land.
Also Omaxe Limited, another big real estate player, is said to have purchased around 250 acres of land and is targeting to acquire more land.
Unconfirmed reports also say that even Emaar MGF has purchased around 250 acres of land near the area and is in process of acquiring more such plots.
According to property consultants, the reason for such demand for land in Mullanpur is because of the its proximity to Chandigarh.
The space constraint in Chandigarh has left the real estate developers to explore its periphery.
Also with the chances of Chandigarh-Baddi highway project getting completed by next year and location of Mullanpur close to the proposed road could make it most sought after locations for real estate developers. With this advantage, Mullanpur may be the answer to housing solutions for Baddi and its adjoining areas.
The increase in demand of land in and around Mullanpur could be gauged from the fact that initially the companies were paying as much as Rs 40 lakh per acre for purchasing the land near Mullanpur but now the prices have shot up with some properties in the area demanding more than Rs 1 crore per acre.
Meanwhile, officials of the company are tightlipped over the issue of purchase of land in Mullanpur.
When contacted the officials refused to admit the purchase of large chunk of land in and around Mullanpur area, however, the property consultants revealed that the companies have acquired large chunk of land through their mediation.
The real estate consultants say that no company is willing to talk about their land purchase in these areas as they fear further escalation of land prices in future that may eventually affect their land purchase in these areas.
