North News
Chandigarh, August 20
In a significant development for Chandigarh’s real estate market, a 10-kanal house has been listed for a staggering Rs 200 crore, marking the highest price tag for a residential property in the city. According to The Tribune, the property, situated in Sector 5 opposite Sukhna Lake, has quickly attracted the attention of realtors and potential buyers amid a surge in high-end property prices.
This listing follows a recent high-profile real estate transaction where a 6-kanal property in Sector 9 sold for Rs 98 crore. The dramatic increase in property values is further highlighted by the fact that an old 8-kanal house in Sector 5 is now being offered at Rs 185 crore, despite experts valuing it at Rs 125 crore. Kamal Gupta, president of the Property Consultants Association, Chandigarh, noted that while some sellers are setting exorbitant prices, the unique market conditions may still enable deals at these elevated rates, the news outlet reported.
The heightened demand for luxury properties is also influencing adjacent areas. In Panchkula, property prices are climbing, although Mohali remains stable. Realtors report that even smaller properties, such as 4-kanal and 1-kanal houses in Chandigarh’s prime sectors, are commanding significant prices, with 10 marla houses averaging Rs 7 crore. According to the news outlet, this trend underscores the rarity and high demand for upscale real estate in the region.
