Real Estate in Tricity Region Attracts Growing Interest from NRIs and Urban Professionals

2025-04-14 03:41:42

Tricity Region Becomes a Hotspot for NRI and Professional Real Estate Investment Amid Soaring Demand and Price Growth

In recent years, the Tricity region—comprising Chandigarh, Mohali, and Panchkula—has emerged as a prominent real estate destination for NRIs and professionals, driven by soaring demand and a notable surge in property prices, especially in the luxury segment. Market experts reveal that housing prices in these Tier-II cities have risen by 15–20% over the past 2–3 years, transforming the region into a key investment hub.

This rapid growth is largely attributed to increasing demand, constrained land supply, and superior lifestyle offerings. With its robust infrastructure, excellent connectivity, clean air, and close proximity to scenic hill stations like Shimla and Kasauli, the Tricity region is redefining urban living standards in smaller cities.

By the end of 2024, property rates in Mohali and Panchkula ranged from ₹6,000 to ₹10,600 per sq ft, underscoring the rising appeal of these areas. Industry analysts note that these cities are increasingly attracting high-net-worth individuals (HNIs), professionals, and global investors looking for premium living in less congested, greener environments.

To cater to this growing demand, top developers have launched a variety of luxury offerings, from group housing and plotted developments to low-rise villas and townships. Prominent projects include DLF’s The Valley Gardens and The Valley Orchard, Trident Realty’s Trident Hills, Eldeco Aranya, and Hero Homes Mohali.

DLF’s Joint Managing Director and CBO, Aakash Ohri, emphasized that families today are seeking tranquility, privacy, and a resort-like living experience. “There’s a strong trend of NRI interest in the region. Many are capitalizing on the weakening rupee and are opting for high-quality homes in peaceful settings, backed by reputable developers,” he said. He added that DLF’s independent floors in Panchkula have seen a surge in demand, with The Valley Gardens appreciating by around 27% since its 2022 launch—from ₹8,329 to ₹10,556 per sq ft. The Valley Orchard also saw a 5.5% hike within months of launching in December 2023.

Hero Realty is set to roll out Phase III of its Hero Homes project in Mohali, offering another opportunity for buyers to enjoy upscale urban living in one of the region’s most desirable addresses.

Trident Realty’s Group Chairman, S K Narvar, noted that the luxury market in Panchkula is booming as buyers seek spacious, well-designed homes. “Mohali, with its fast-growing Aerocity and IT City corridors, upcoming metro plans, and rising IT presence, is becoming a magnet for NRIs and professionals alike,” he said.

Echoing similar sentiments, Akshay Taneja, MD of TDI Infratech Ltd, highlighted the rise of mixed-use developments across the Tricity region. “Mohali has transformed into an economic and residential hub, thanks to its thriving IT sector, top-tier educational institutions, and expanding retail footprint. These integrated developments ensure higher rental yields and long-term appreciation, making them ideal for investors,” he said.