A New High for Chandigarh Real Estate

The City Beautiful has witnessed a surge in property prices, with a recent listing for a 10-kanal house in Sector 5 demanding a staggering Rs 200 crore. This marks the most expensive residential property listing in Chandigarh to date, sparking interest among realtors and potential buyers.

The property’s prime location, opposite Sukhna Lake, and the limited availability of high-end properties in the city’s northern sectors have contributed to this astronomical price tag. Sources indicate that a businessman recently purchased a 6-kanal house in Sector 9 for Rs 98 crore, further highlighting the rising demand for luxury properties.

While some realtors believe the Rs 200 crore asking price is justified given the property’s unique characteristics, others caution against inflated valuations. Kamal Gupta, president of the Property Consultants Association, Chandigarh, noted that many property owners are quoting unreasonable prices, and actual deals at such high figures are relatively rare.

Despite the skepticism, the Rs 200 crore listing has become a topic of discussion among realtors, who acknowledge the scarcity of high-end properties in the city. Smaller properties, such as 4-kanal houses in Sector 9, are now commanding prices of around Rs 60 crore, while 1-kanal houses in Sectors 8, 9, and 11 are being sold for Rs 15-16 crore. However, finding available properties in these price ranges remains challenging.