Chandigarh realty prices hit the roof, 2-kanal house goes for Rs 32 cr, SCO Rs 30 cr

The property prices in Chandigarh are going through the roof. A two-kanal house in the city was recently sold for a whopping Rs 32 crore while an SCO fetched a record Rs 30 crore.

These are not the total deal prices, which generally include the “under-the-table” component widely ranging from 40 to 50 per cent of the aggregate value, but the official consideration amount at which these properties have been registered in the UT.

Given the reality that property is registered at a value much less than the total deal value to cut down on the registration fee and the stamp duty, one can safely assume that these properties must have been priced at roughly 40 to 50 per cent more than the value at which these were registered.

The official data, exclusively accessed by The Tribune, revealed that a 1,000.3 sq yard house in Sector 18-A was sold for Rs 32 crore on November 26, 2024, which was the highest-ever registration price for a two-kanal (kanal is equal to 500 sq yards in residential areas) house in Chandigarh.

Similarly, an SCO on Madhya Marg in Sector 7, measuring 762.93 sq yards, fetched a record price of Rs 30 crore as per the sale deed registered on March 30, 2025.

Among the other properties that have fetched record prices so far include a six-kanal house in Sector 9-C which was sold for Rs 70 crore, a four-kanal house in Sector 27-B for Rs 33.5 crore, a 7.5-kanal house in Sector 4-A for Rs 41.8 crore, a 10.5-kanal house in Sector 4-A for Rs 45 crore, a 3.5-kanal house in Sector 9-B for Rs 35 crore, a six-kanal house in Sector 9-C for Rs 43 crore, a little less than three-kanal house in Sector 9-B for Rs 31 crore and a six-kanal house in Sector 9-C, which was registered at the consideration amount of Rs 65 crore.

The boom in the real estate market in Chandigarh is evident from the fact that the UT earned a record revenue of Rs 27,696 crore from the stamp duty and the registration fee in the 2024-25 fiscal, which was the highest ever since 2019.

Confirming the development, Deputy Commissioner Nishant Kumar Yadav, who is also the District Collector, told The Tribune that the real estate market in Chandigarh was on the rise. And the registration of properties after the collector rates were revised from April 1, 2025, has substantially increased as compared to the previous year.

“Between April 1 and 15, as many as 285 properties were registered in 2023, 341 in 2024, and this number went up to 362 in 2025 despite the fact that there were only nine working days in the first fortnight of this fiscal as compared to 10 and seven working days during the corresponding period in 2024 and 2023, respectively,” Yadav said.

A leading property consultant, Manpreet Singh, while echoing similar views, said the real estate prices in Chandigarh had witnessed a significant surge with a one-kanal house in any part of the city not going for anything less than Rs 20 crore, which had become a benchmark.

“In a recent yet-to-be-matured deal, a two-kanal house on sale got an offer of Rs 50 crore but the owner is adamant on not accepting anything less than Rs 60 crore,” another realtor, Priyanka Singh, said.

“Collector rates were revised after four years in Chandigarh from April 1 this year and they are still well below the prevalent market prices. The new rates reflect an increase ranging from 10 per cent to over 200 per cent in certain areas,” the Deputy Commissioner said.

He said, “This revision was based on an objective and data-driven methodology. The Administration undertook a detailed analysis of sale deeds registered over the past three years to ensure the new rates accurately reflect the prevailing market trends. The move is expected to boost government revenue significantly. With the stamp duty collection at Rs 270.72 crore in the last fiscal, the revised rates are projected to increase this revenue to over Rs 400 crore in the current fiscal. This step marks a major stride in aligning property valuations with the actual market conditions while enhancing fiscal efficiency.”