Decoding Real Estate. Backed by Financial Facts
Luxury housing boom in Chandigarh Tricity - upcoming new projects
In recent years, Chandigarh and its surrounding areas including Panchkula,Mohali,Zirakpur & New Chandigar area comprising Panchkula and Mohali, Zirakpur & New Chandigarh have witnessed a remarkable surge in luxury housing developments.
With an influx of upscale residential projects, the region is rapidly becoming a coveted destination for those seeking opulent living spaces and modern amenities.
This article delves into the burgeoning luxury housing market in Chandigarh -Tricity, highlighting some of the upcoming projects and providing insightful data on the growth of the real estate sector in the region.The recent e-auction of GMADA properties in IT City, Mohali, marked a significant milestone, approx. ₹1,935.88 cr – the highest-ever revenue from a single auction.
The Rise of Luxury Living :
Chandigarh, known for its meticulously planned architecture and lush greenery, has long been considered a prime location for real estate investment. However, the recent surge in luxury housing projects has redefined the city’s skyline and elevated its status as a preferred destination for high-end living.
One of the key factors driving this luxury housing boom is the increasing demand from affluent buyers who seek exclusivity, premium amenities, and a superior quality of life. Developers are responding to this demand by introducing innovative designs, state-of-the-art facilities, and bespoke services tailored to cater to the discerning tastes of their clientele.
This newsletter comprises of
Analysis about per sq,ft pricing of housing
Q1 2025 Market Trends
New & upcoming projects in Tricity
Future and Forcast of Tricity
New Auctions
Growth Story of TRICITY Chandigarh After Covid-19
Infrastructural Development in the Chandigarh -Tricity area has grown a lot in the past few years. This growth has happened because more people are moving to cities, roads and buildings are getting better, and the economy is getting stronger.
Reports show that the prices of houses and land are going up slowly but steadily. This means that more people want to buy property in this area, and the demand is high. New jobs, better living conditions, and modern buildings are also contributing towards real estate market Growth
People in large number are moving towards Tricity due to infrastructural development such as educational hubs, healthcare, transportation(International Airport) booming airport connection much more,
Here is a tabular representation of the growth of the real estate market in Chandigarh over the past five years
Year |
Average Property Price (per square ft) |
Year-on-Year Growth (%) |
|---|---|---|
2020 | 4200 | - |
2021 | 4900 | 16% |
2022 | 6000 | 22.4% |
2023 | 7400 | 23% |
2024 | 9000 | 21% |
The Tricity region—comprising Chandigarh, Mohali, and Panchkula, along with emerging hubs like Zirakpur, Kharar, and New Chandigarh—has witnessed a remarkable transformation in its real estate landscape over the last five years. A detailed analysis of average property prices reveals a strong upward trajectory, driven by urban expansion, infrastructural development and rising investor interest.
In 2020, the average property price stood at ₹4,200 per sq. ft., setting the base for the coming surge. By 2021, prices rose to ₹4,900, marking a 16% year-on-year (YoY) growth, largely due to post-pandemic market recovery and increased residential demand. The momentum continued into 2022, with prices reaching ₹6,000 per sq. ft. (22.4% growth), fueled by infrastructural improvements and migration from neighboring states.
In 2023, the market saw a sharp spike to ₹7,400 per sq. ft. (23% YoY growth), as demand surged in key pockets like Mohali’s Aerocity, Zirakpur, and New Chandigarh. High absorption rates and limited supply led to price escalations. The trend remained robust in 2024, with prices touching ₹9,000 per sq. ft., registering a 21% annual increase. This growth was supported by increased NRI investments, commercial expansion, and a shift towards integrated townships and gated communities.
This consistent growth reflects strong buyer sentiment, infrastructural development, govt auctions and rising demand from both investors and end-users. Factors such as improved connectivity, smart city initiatives, and proximity to Chandigarh’s urban lifestyle have played a key role. With this trend, Tricity is positioning itself as one of North India’s most promising real estate markets, attracting interest across residential, commercial, and plotted developments.
Market Analysis : Trends of Tricity Real Estate in Q1 2025
Zirakpur
Q1 2025 Numbers
Q1 2025 Numbers
Unit Sold
450
Avg. Price
1.5
Cr
Cr
Avg. Price
630
Cr
Cr
Data based on Luxury,Premium,Affordable residential category ** Does Not Include commercial projects numbers
Strong Overall Performance
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Strong Overall Performance
- The Initial month of the year was quite positive of successfull
- Feb Is the highest performing Month in Q1
- There was a slight dip in overall sales in March as compared to Jan and Feb.
- Q1 indicates healthy traction in the real estate market.
- A good mix of high-value and mid-range projects contributed to this number.
- Signals solid demand, potentially driven by low interest rates, early-year optimism, or targeted project launches.
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Key Highlights
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Strong Overall Performance
- With strong demand of premium and luxury group housing in gmada aution sites witness major role in over all numbers of Q1 2025.
- March as compared to Jan and Feb have impacted and seen downwards trends.
- Q1 indicates healthy avg price & per sq.ft. rate of properties sold in the Mohali real estate market.
- Blend of High-value and premium range projects contributed to this number.
- Project launches in Mohali supported over all volume.
Mohali
Q1 2025 Numbers
Q1 2025 Numbers
Unit Sold
405
Avg. Price
2.0
Cr
Cr
Avg. Price
810
Cr
Cr
Data based on Luxury,Premium,Affordable residential category ** Does Not Include commercial projects numbers
New Chandigarh
Q1 2025 Numbers
Q1 2025 Numbers
Unit Sold
450
Avg. Price
1.5
Cr
Cr
Avg. Price
630
Cr
Cr
Data based on Luxury,Premium,Affordable residential category ** Does Not Include commercial projects numbers
Key highlights
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Strong Overall Performance
- Strong connectivity & ban on registery of Floors in Chandigarh helped.
- National Level developer like omaxe contributed highest sales in Q1.
- Mix of Commercial & Residential category was the key drivers.
- Their is a strong increase in per sq.ft price in new Chandigarh witness in Q1 2025.
- New projects increase launches incresed the over all market size & demand in 2025.
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Tricity Analysis
Q1 2025 Numbers
Q1 2025 Numbers
Unit Sold
1123
Avg. Price
1.63
Cr
Cr
Avg. Price
1842
Cr
Cr
Data based on Luxury,Premium,Affordable residential category ** Does Not Include commercial projects numbers
Max Volume in Price
In Q1 2025 Mohali real estate has recorded a total volume of 810 Cr , Zirakpur recorded 630Cr while New Chandigarh recorded a 402 Cr
Mohali - Records High Volume
Max Unit Sold
in Q1 2025 Zirakpur real estate has record a total sale of 450 Units, Mohali recorded 405 Units while New Chandigarh recorded a 268 Units
Zirakpur - Records Highest Unit Sale
Tricity Chandigarh Real Estate Growth Story – Q1 2025 Highlights & Forecast
The Tricity region—comprising Mohali, Zirakpur, and New Chandigarh—has demonstrated robust growth in the real estate sector during Q1 2025, signaling strong investor confidence and rising end-user demand.
- Mohali recorded the highest transaction value at ₹810 Cr with 405 units sold, driven by premium residential and commercial developments.
- Zirakpur followed with ₹630 Cr in sales volume and led in units sold at 450, reflecting its popularity among mid-segment buyers.
- New Chandigarh maintained consistent momentum with ₹402 Cr in value and 268 units sold, showing emerging potential.
- Market Insight: The growth across segments highlights strong investor confidence, with Mohali drawing high-value investments and Zirakpur driving volume.
- Outlook: New Chandigarh’s consistent rise positions it as a promising hotspot for early investors, especially with ongoing infrastructure development and urban expansion.
This strong performance is backed by infrastructure upgrades, enhanced connectivity, and growing urbanization.
New and Upcoming Project of tricity
Here are some of the notable luxury housing projects slated to grace the Chandigarh-Tricity skyline in the near future. These projects exemplify the epitome of luxury living, offering residents a harmonious blend of elegance, comfort, and convenience.
- ONE GROUP 98 FLOORS
- THE ROYAL 39 EXTENSION
- THE ROYAL PARK BANUR
- SIVANTA AETRO HEIGHTS
Mohali
- Marbella Royce – IT city
- Pinnacle – IT city
- Horizon Belmond – Sec 88
- Joy Grand – Sec 88
- Noble Aurellia – Sec 88
- Atulyam – The Bliss – Sec 88
- VINTAGE MARBLE ARCH
- MEDALLION NOVA
- WAVE GARDEN PH 2
- THE MARK BY ATLANTIS
- VRS ANANTAM
- VRS AMBRUM
- Gillco
- Evoq
- LUMAC
- Medallion IBC Republic
- Highland Mayfield
- MDB Lutyens
- Aerovista – Melody of Life
- Swiss Gardens
- MEDALLION AURUM
- JUBLIEE ALVIRA
- GDPL Empirus
- GDPL RESIDENCIA
Recnosunt Times
New Chandigarh
- Omaxe World Street -2
- GB Reality 1
- SBP
- Sivanta Griham
- Tiara
- ABS VIBRANCE
- Jubilee Mercasa
- Vamana Riseonic
- HLP County Greens
- Marbella Twin Towers
- Omaxe Gardenia
- Omaxe Celestia Royal
Recnosunt Times
Zirakpur
- Atlantis Grand
- Atlantis Heights
- Vamana Arvindam
- The Vibe
- Sushma Hub Town
- Velora Urbano
- HLP Palmillas
- SBP RIO
- SBP MONTEFIORE
- SBP PARIVAAS
- Genesis Heights
- Amelia Estate – Plots
- The Vintage Greens
- SBP
- Gulnaar Serene
- Rosero Elena
- Highland Luxuria
- SBP SPORTS CITY
- SBP OLYMPIA
New Opportunities and Future of Tricity Real Estate
Gmada Auction
Record Breaking Sales: In March 2025, Gmada earned around Rupees 1,986 crore by selling 368 properties. These included houses, shops, and plots that can be used for both homes and businesses. One big plot in Aerocity was sold for Rupees 264.69 crore to a company named Garav Infra LLP from Jalandhar.
This was one of the highest sales ever made by Gmada in a single month. It shows that more people and companies are interested in buying land in the Chandigarh-Tricity area.
Revenue Genrated |
1,986 Rs Cr |
|---|---|
Properties Sold | 368 Units |
Single Site Sold | 527 rs CR |
High-Value Transaction: In September 2024, a 6.64-acre commercial plot in sector 62 Mohali was auctioned for Rs527 cr reflecting in investors in Mohali commercial potential.
Impact -
- Per Square feet Cost will be high for flats
- Affordable housing will be in high demand
- Peripheral areas like Patiala Road, Kharar, Kurali, Derabassi, Banur and Kharar Landra Road will be more in demand
- Continue to have a high demand for residential real estate
- The Tricity market is expected to grow by 10–15% in upcoming quarters (Q2–Q3 2025).
- Mohali and Zirakpur will continue leading due to their infrastructure edge.
- New Chandigarh is poised for steady appreciation as development accelerates.
Mohali – With upcoming IT parks, improved road networks, and airport connectivity, educational hubs, and strong civic infrastructure. Mohali is set to attract high-end and premium residential and commercial investments. We will see higher appreciation in property values, specially in areas like Sector 88,66,91,102-A,IT City and Aerocity
Zirakpur – As a key connector to major highways and Chandigarh, Zirakpur is expected to maintain high unit sales and see further rise in demand from mid-income buyers and NRIs. A hub for affordable housing and high-rise apartments, Zirakpur is forecasted to witness a rise in first-time homebuyers and retail development, especially along the PR-7 airport road,Chandigarh – Ambala highway and Patiala road
New Chandigarh – As a planned city, New Chandigarh will see steady appreciation with the expansion of educational, healthcare, and institutional projects. New Chandigarh is forecasted to see gradual but steady growth, especially integrated townships. With new launching of multiple projects by strong developers the market will pickup and compete with other areas of tricity going forward.
BHARATMALA -CONNECTING INDIA
KEY HIGHLIGHT
- 50 National corridors will be constructed
- Across the country 550 districts will be connected
- International Connectivity to Bharatmala
- Focus on economic corridors, expressways, border and coastal roads
KEY HIGHLIGHT
Real Estate market of Tricity will witness appreciation by 10-12%
Improves Connectivity across Tricity
Traffic Reduction on Airpot Road & Zirakpur
Value addition to trade system of tourism industires
The Bharatmala Project is a major step towards transforming India’s road network and improving national connectivity. By linking remote regions, boosting trade routes, and reducing travel time, it supports the country’s economic growth and development. Once completed, Bharatmala will not only strengthen infrastructure but also bring people, places, and opportunities closer than ever before.
How can you take Interest free home loan
- Parallel Investing: The concept involves simultaneously paying your home loan’s Equated Monthly Installments (EMIs) and investing a portion of your income in mutual funds through SIPs.
- Offsetting Interest: The goal is to generate returns through your SIP investments sufficient to cover or exceed the total interest you’ll pay on your home loan.
- Long-Term Approach:This strategy relies on the power of compounding, which works most effectively over extended periods, ideally matching the loan’s tenure.
0.1 % of Total Loan Amount to be invested in SIP which Subset your Interest
1. Calculate the SIP Investment Amount:
- Your Loan Amount – ₹50,00,000
- 0.1% of ₹50,00,000 = (0.1 / 100) * ₹50,00,000 = ₹5,000.
- This means you’d invest ₹5,000 per month in a SIP.
2. Estimate Total SIP Investment:
If your loan tenure is 20 years (240 months), your total SIP investment would be:
- ₹5,000/month * 240 months = ₹12,00,000.
3. Estimate SIP Returns:
- SIP have average annual return of 12%
4. Compare with Total Loan Interest:
- A home loan of 50,00,000 rupees at an interest rate of 8.5% for 20 years, would result in a total interest payment of over 53,00,000 rupees. But the returns from the SIP, could potentially offset some of the interest paid.
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