Chandigarh, May 18 — Chandigarh’s real estate market is witnessing an unprecedented surge, with landmark deals setting new records. A two-kanal house in Sector 18-A was officially registered for Rs 32 crore, while a Shop-Cum-Office (SCO) in Sector 7 fetched Rs 30 crore, according to official records accessed by The Tribune.
These figures reflect only the official consideration amounts, excluding the widely prevalent “under-the-table” component, which experts estimate could push the actual transaction values 40 to 50 percent higher.
“These are record-breaking figures as per the registered deeds. The actual market prices are likely much higher,” said Deputy Commissioner Nishant Kumar Yadav, who also serves as the District Collector.
Yadav confirmed that following a revision in collector rates on April 1, the real estate activity has sharply increased. “Between April 1 and 15, we registered 362 properties in 2025 despite having only nine working days. In comparison, 341 were registered in 2024 and 285 in 2023,” he noted.
The boom is reflected in the UT Administration’s revenue, with stamp duty collections touching Rs 270.72 crore in FY 2024-25 — the highest since 2019. Revised projections now estimate the figure could cross Rs 400 crore in the current fiscal.
The property sale that set the record was a 1,000.3 sq yd house in Sector 18-A, sold on November 26, 2024, for Rs 32 crore — the highest ever for a two-kanal residential unit. The 762.93 sq yd SCO in Sector 7, Madhya Marg, registered on March 30, 2025, matched that landmark at Rs 30 crore.
Several other high-value transactions have surfaced:
• A six-kanal house in Sector 9-C went for Rs 70 crore
• A four-kanal house in Sector 27-B fetched Rs 33.5 crore
• A 7.5-kanal property in Sector 4-A sold for Rs 41.8 crore
• A 10.5-kanal house in Sector 4-A was registered at Rs 45 crore
• A 3.5-kanal house in Sector 9-B changed hands for Rs 35 crore
• Multiple six-kanal properties in Sector 9-C ranged between Rs 43 and Rs 65 crore
Realtors say the benchmark for a one-kanal house across the city is now Rs 20 crore or more. “Prices have skyrocketed. We’ve seen a two-kanal house get a Rs 50 crore offer, but the owner won’t settle for less than Rs 60 crore,” said Priyanka Singh, a city-based property dealer.
Manpreet Singh, a leading property consultant, added, “Collector rates have been revised after four years but still lag far behind market valuations.”
The revised rates, which came into effect from April 1, reflect an increase of 10 to over 200 percent, depending on the locality. “This revision was done using a data-driven methodology by analysing three years of registered sale deeds,” said Yadav. “It aligns property values with real-time market trends and enhances fiscal efficiency.”
As per officials, this update is expected to significantly boost state revenues, while also bringing a greater degree of transparency and accountability to the city’s high-value property transactions.
