Registration paradox: Fewer deals, higher value

Auctions may dominate headlines, but Chandigarh’s property registration data reveals a subtler picture. Between April and August 2025, only 4,352 property documents were registered, compared to 4,375 in 2024 and 4,906 in 2023. Clearly, transaction volume has slipped for three years in a row. Yet, paradoxically, stamp duty collections jumped to Rs 1,284.8 crore in 2025, far higher than Rs 944.82 crore in 2024 and even surpassing Rs 1,114.52 crore in 2023.

Why the mismatch?

The simple answer to mismatch is fewer deals, but bigger ticket sizes. With auctions fetching Rs 20-30 crore deals, the government earns more duty despite falling registrations. Registration fee collections, which are capped amounts per document, tell a flatter story: Rs 25.3 crore in 2025, about the same as 2024 and lower than 2023.

“Auctions may show aggressive demand, but the registration slowdown reveals a more cautious market. End-users are thinning out, while high-value investors dominate,” says Estate Officer Yadav.

A unique market

Scarcity of fresh land and Chandigarh’s planned character make it a unique market.— Nishant Kumar Yadav, Deputy Commissioner-cum-Estate Officer

Speculative battles

Auctions have become speculative battles. Genuine users often get priced out. — Subhash Arora, local property consultant