Record-Breaking Revenue in Chandigarh Property Auction: ₹168.85 Crore
Chandigarh’s UT Estate Office held a significant e-auction from September 2–4, 2025, generating ₹168.85 crore against a reserve price of ₹75.29 crore. This outcome more than doubled the expected revenue, showing the city’s elite property market strength despite broader economic uncertainties. Out of 20 sites offered, 15 found buyers at prices significantly above the baselines. Residential plots led the gains.
Surprising Sales Surpassing Market Expectations
The auction’s top performer was a 1,014 sq yard (two-kanal) residential plot in Sector 33, selling for a whopping ₹33.4 crore, more than double its ₹14.9 crore reserve. Sector 33, a peaceful area favoured by defence personnel, attracted strong investor interest. Meanwhile, three one-kanal plots in Sector 19, a busy commercial hub, each fetched ₹22 crore against a reserve of ₹7.42 crore per plot.
Commercial properties also performed well:
- A 324 sq yard SCO in Sector 8-C sold for ₹20 crore (reserve: ₹14.52 crore)
- A small 25 sq yard booth in Sector 44 reached ₹2.25 crore, triple its ₹76 lakh baseline
Moving to Monthly E-Auctions
Taking advantage of this success, the UT Estate Office announced monthly auctions for over 700 residential plots. For the first time, an annual e-auction calendar will offer structured bidding opportunities. “This isn’t just about revenue, it’s about market transparency and accessibility,” said an Estate Office official. All plots are freehold, targeting high-net-worth individuals seeking premium Tricity locations where prices already command 2–3x premiums over Panchkula and Mohali.
Reasons for Chandigarh’s Continued Attraction
Several factors explain the frenzy:
- Scarcity Value: Limited land availability in planned sectors
- Institutional Trust: Under government supervision, auctions will be held to avoid fraud risks
- Location Premium: Sector 19’s proximity to business districts vs Sector 33’s serene defence-affiliated environment
- Investment Hedge: Real estate remains a preferred inflation countermeasure among local elites
“This auction reflects confidence in Chandigarh’s enduring status as North India’s most exclusive residential destination,” noted a veteran property analyst. With 288 applicants submitting 587 bids, competition intensity suggests even higher valuations in upcoming cycles, particularly for the newly announced monthly sales targeting sectors like 17, 22, and 43.