Mohali
Sector 124 presents a dynamic real estate environment where property valuations have undergone significant adjustments over the past several months. Market participants are navigating a landscape defined by shifting price trends and a mix of residential property types that cater to different buyer segments. Rental demand remains steady across the region, with neighboring areas like Kharar Road, Sector 88, and Mullanpur contributing to a competitive leasing market. Investors and homebuyers are currently evaluating these price shifts to time their entry into this evolving micromarket.
As of Sep 2026, the average asking price in Sector 124 is ₹6,600 per sq ft. This figure reflects a depreciation of 7.32% compared to the previous period, indicating a market correction in the locality for residential villas.
Property price trends in Sector 124 have shown a downward trajectory over the past year. The average asking price dropped from ₹9,050 per sq ft in Dec 2025 to ₹6,600 per sq ft by Sep 2026. This consistent decline suggests a softening of demand or an increase in supply within the local market during this period.
As of Sep 2026, villas in Sector 124 command an average price of ₹6,600 per sq ft, which has depreciated by 7.32% over the recent period. In contrast, apartments are priced at an average of ₹4,000 per sq ft, reflecting a more significant depreciation of 22.92% over the same timeframe. These figures highlight that villas currently maintain a higher valuation compared to apartments in this locality.
Property rates in Sector 124, at ₹6,600 per sq ft, sit in the mid-range compared to surrounding areas. For instance, Sunny Enclave and Sector 123 command higher rates at ₹9,300 per sq ft and ₹9,350 per sq ft respectively, both showing slight depreciation. Meanwhile, more affordable options are available in Sector 115 and Kharar Road, both priced at ₹4,300 per sq ft, with Sector 115 showing a notable appreciation of 6.38% as of Sep 2026.
Rental rates in the vicinity of Sector 124 are currently stable in several key locations. As of Sep 2026, Kharar Road and Mullanpur both record an average rental rate of ₹50 per sq ft, with no change in rates recorded. Conversely, Sector 88 has seen a rental depreciation of 10% compared to the previous period, settling at an average of ₹50 per sq ft.
The market in Sector 124 is currently undergoing a correction, with the average asking price at ₹6,600 per sq ft as of Sep 2026, down 7.32% from the prior period. For end-users, this downward trend may present an opportunity to enter the market at a lower entry point than in late 2025. Investors should monitor these price movements closely to determine if the market has reached a bottom before committing capital.
