Chandigarh, June 22: Following the revision of collector rates in Chandigarh, the Chandigarh Housing Board (CHB) has proposed a steep hike of up to 40 per cent in the prices of flats under its long-pending self-financing housing scheme in Sector 53. The proposal comes amid renewed interest in the project after a high response to a recent demand survey.
As per the proposed figures, the tentative price of a three-bedroom high-income group (HIG) flat is now pegged at ₹2.3 crore — a 39.39% increase from the earlier tentative rate of ₹1.65 crore. Two-bedroom middle-income group (MIG) flats may now cost around ₹1.97 crore, up 40.71% from ₹1.4 crore, while the price of economically weaker section (EWS) units could rise from ₹55 lakh to ₹74 lakh, marking a 34.34% hike.
The proposed rates reflect the revised collector rates effective from April 1. However, officials clarified that these rates remain tentative and are subject to approval by the CHB Board of Directors, who will review them based on a recent demand survey.
The self-financing scheme, which had been shelved by the UT Administration in 2023, received renewed momentum after the February 22–March 3 survey period, during which 7,468 applications were received. Notably, nearly 68% of those were for the HIG units, underscoring strong demand in the higher-income bracket. Of the total applications, 5,081 were for 3BHK flats, 1,269 for 2BHK, and 1,118 for EWS units.
The scheme proposes the construction of 372 units, including 192 HIG flats, 100 MIG units, and 80 for EWS. This marks a significant shift from 2020, when a similar survey—held after reducing flat prices—received only 148 applications for 492 flats, leading CHB to scrap the plan and refund applicants.
The changed market sentiment and a successful auction of vacant flats later prompted the CHB to revive the scheme. The Board had cleared the construction proposal on May 9, 2023. However, in August 2023, then UT Administrator Banwarilal Purohit halted the scheme, terming it unnecessary, leading to the cancellation of ₹200 crore in construction tenders for the Sector 53 project.
The last CHB housing scheme was launched in 2016, offering 200 flats in Sector 51. The current proposal—pending final board approval—marks the board’s most ambitious housing initiative in nearly a decade, albeit at a much higher price point.
