Chandigarh, September 5: Chandigarh’s latest e-auction of residential and commercial properties has set new benchmarks, with a two-kanal plot in Sector 33 selling for ₹33 crore and three one-kanal plots in Sector 19 going for ₹22 crore each. The auction, conducted by the UT estate office from September 2 to 4, generated a record ₹168.85 crore against a reserve price of ₹75.29 crore.
According to officials, 20 sites were put up for bidding, including 13 residential and seven commercial plots. Of these, 15 were successfully auctioned, with residential demand pushing prices far above expectations. “A total of 288 applicants submitted 587 applications for different sites,” estate officer-cum-deputy commissioner Nishant Yadav said. He noted that five commercial sites received only single bids and will be carried forward to the next round.
The standout deal came from Sector 33, a quiet enclave largely occupied by defence personnel, where the two-kanal plot, reserved at ₹14 crore, drew frenzied bidding before closing at ₹33 crore—more than double the base price. Meanwhile, Sector 19, known for its thriving market and strong business presence, saw three one-kanal plots with a reserve of ₹7.42 crore each escalate to ₹22 crore apiece.
Commercial properties, however, witnessed mixed results. A shop-cum-office site measuring 324 square yards in Sector 8-C was sold for ₹20 crore against its reserve price of ₹14.52 crore. A 25-square-yard booth in Sector 44 went for ₹2.25 crore, nearly triple the reserve of ₹76 lakh.
Industry representatives said the results reflected a widening gap between residential and commercial demand. Kamal Gupta, president of the Property Consultants Association, Chandigarh, remarked, “These rates are unprecedented. Chandigarh has never seen such high prices. While the residential sites are selling at sky-high rates, making it out of reach for the common man, the commercial sites got a poor response because they are on leasehold.”
The record-breaking auction underscored Chandigarh’s reputation as one of India’s most exclusive property markets, where limited supply continues to fuel aggressive bidding despite soaring prices.
