Overview
The real estate market in Tricity (Chandigarh, Mohali and Panchkula) continues to showcase resilience and steady growth. With strong infrastructure development, rising end-user demand and improving connectivity, the region remains one of the most attractive investment destinations in North India.
In this update, we analyze the current market trends, price movements and major infrastructure developments shaping the real estate landscape in May 2024.
1. Market Overview
The first quarter of 2024 witnessed consistent demand across residential and commercial segments. Premium housing projects saw increased interest, especially in Mohali and New Chandigarh.
"Tricity continues to attract both end-users and investors due to its excellent connectivity, quality of life and future growth potential.
2. Price Trends
Average property prices in Tricity have seen a moderate appreciation of 4-6% compared to the last quarter. New Chandigarh and Airport Road are among the top-performing micro-markets.
3. Key Infrastructure Developments
- Chandigarh International Airport is expected to boost connectivity.
- PR7 Road is accelerating real estate growth along Airport Road.
- Metro connectivity to Mohali is under feasibility study.
4. Outlook
With upcoming infrastructure projects and sustained demand, the Tricity real estate market is expected to remain strong in the coming quarters.
- ✓ Steady price appreciation across key micro-markets.
- ✓ Infrastructure developments will drive long-term growth.
- ✓ Ideal time for end-users and long-term investors.
