Chandigarh
The property market in Sector 23 is characterized by consistent growth, with current asking prices reaching ₹32,450 per sq ft. Quarterly trends show a steady upward trajectory, moving from ₹25,350 in mid-2025 to the current levels, indicating strong demand for residential assets. Rental activity is also stable, with 2 BHK apartments averaging ₹24,600 per month, providing a reliable income stream for property owners. Local connectivity and a well-integrated urban layout continue to support these valuation gains for homeowners and investors alike.
The average asking price in Sector 23 is ₹32,450 per sq ft as of March 2026. This rate reflects an appreciation of 4.55% compared to the previous period, signaling sustained demand for residential villas in this locality.
Property rates in Sector 23 have shown a consistent upward trajectory over the last several months. As of March 2026, the average asking price reached ₹32,450 per sq ft, rising from ₹31,050 per sq ft in December 2025 and ₹31,100 per sq ft in September 2025. This steady growth from the ₹25,350 per sq ft recorded in June 2025 highlights a resilient market with growing investor and end-user confidence.
Property rates in Sector 23, currently at ₹32,450 per sq ft, sit in the mid-to-high range when compared to surrounding areas in Chandigarh. For instance, Sector 34 commands a higher average asking price of ₹44,700 per sq ft (which appreciated by 6.22%), while Sector 40 is more accessible at ₹26,300 per sq ft (which depreciated by 4.13% from the previous period). Other nearby sectors like Sector 36 and Sector 33 remain premium, with rates at ₹42,550 per sq ft and ₹42,800 per sq ft, respectively.
The typical rental cost for a 2 BHK apartment in Sector 23 is ₹24,600 per month as of March 2026. This figure provides a clear benchmark for tenants looking for residential options in the area, reflecting the current market value for this specific unit configuration.
Rental rates across various sectors in Chandigarh are largely uniform, with most areas, including Sector 36, Sector 35, Sector 37, and Sector 33, commanding an average rental rate of ₹50 per sq ft as of March 2026. While many of these sectors have seen stable rental trends with 0% change, some areas show volatility; for example, Sector 38 has seen a significant appreciation of 35% in rental rates, whereas Manimajra has experienced a depreciation of 25% compared to the previous period.
Investors should view the current average asking price of ₹32,450 per sq ft in Sector 23 as a signal of steady capital appreciation, supported by the 4.55% growth observed leading up to March 2026. By comparing this to the surrounding micromarket rates, such as the ₹39,050 per sq ft average across the broader micromarket, investors can gauge whether the locality is currently undervalued or priced at a premium relative to its immediate neighbours.
