Chandigarh tricity has been identified as one of the 11 emerging real estate markets poised to lead India’s next phase of property growth, with residential prices in these cities rising 63 per cent between 2021 and 2026 — outpacing the 42 per cent appreciation recorded across India’s top eight metros, according to a report released jointly by industry body CII and property consultant Knight Frank India on Friday.The report titled ‘India’s Next Real Estate Markets,’ places Chandigarh tricity alongside Bhopal, Bhubaneswar, Goa, Indore, Jaipur, Kochi, Lucknow, Nagpur, Visakhapatnam and Coimbatore as markets with the strongest growth potential. The 11 cities recorded an average residential price compound annual growth rate (CAGR) of 8 per cent between 2016 and 2026, double the 4 per cent CAGR logged by the top eight cities — Mumbai, Bengaluru, Delhi-NCR, Hyderabad, Chennai, Pune, Ahmedabad and Kolkata.The finding is consistent with ground-level data from Chandigarh’s own Estate Office. Official records exclusively accessed by The Tribune show that stamp duty collections in Chandigarh surged 41 per cent to a record Rs 348.23 crore in FY 2025-26 from Rs 247.02 crore in FY 2023-24, even as the number of registered property documents collapsed 39 per cent — from 12,040 to 7,311 — over the same period. The total transaction value held at approximately Rs 6,881 crore, confirming that deal sizes, not volumes, are driving the market.The most visible local manifestation is at the top. A sprawling 4,247 square yards House No. 82 in Sector 9-A was registered for Rs 126 crore in August 2025 — the city’s highest-ever residential transaction. Four months later, House No. 32 measuring 2,987 square yards in the same block fetched Rs 108.5 crore. A commercial unit at Nexus Elante Mall in the Industrial Area was registered for Rs 125.44 crore at 265 per cent above Collector rate. Three years ago, Chandigarh’s peak deal was Rs 65 crore.“Chandigarh’s transparent land governance, planned infrastructure and limited land supply create a premium that consistently attracts high-value investment. The estate office remains committed to accountable, responsive administration with zero tolerance for corruption,” Deputy Commissioner-cum-Estate Officer Nishant Kumar Yadav told The Tribune.The Knight Frank report attributes the momentum in emerging markets to strengthening economic fundamentals backed by infrastructure spending, connectivity and rising consumption. It notes that infrastructure expenditure’s share of total government capital expenditure rose to 55 per cent in FY26 from 39 per cent in FY15, with a three-year public-private partnership pipeline of 852 projects worth Rs 17 lakh crore providing further tailwinds.However, the boom carries a sharp affordability cost that the national report does not capture. A two-bedroom CHB flat in Sector 63 — not a premium address — cleared auction this month at Rs 1.92 crore. The same CHB auction saw 12 of 14 properties receive zero bids, including properties in Manimajra priced between Rs 41 lakh and Rs 51 lakh. An HIG flat in Sector 46-C at Rs 7.33 crore attracted no buyers at all.“Chandigarh Tricity’s 63 per cent price rise in five years is a market achievement that simultaneously prices out the very workforce that makes the city function,” said real estate analyst Ravi Kumar. “The report confirms the momentum. It does not resolve the affordability crisis.”Knight Frank India CMD Shishir Baijal said cities that bring together employment, enterprise, population growth, consumption and urban capacity would be better placed to build deeper real estate markets. “India’s real estate growth is increasingly broadening beyond traditional metropolitan centres,” he said.Market snapshotStamp duty collected, FY 2025-26: Rs 348.23 crore (record)Property registrations, FY 2025-26: 7,311 (down 39 pc from 2023-24)Chandigarh’s top deal, FY 2025-26: Rs 126 crore, Sector 9-APrice CAGR, 11 emerging markets (2016-2026): 8 pcPrice CAGR, top 8 metros (2016-2026): 4 pcPrice rise, 11 emerging markets (2021-2026): 63 pcPrice rise, top 8 metros (2021-2026): 42 pcSource: Estate Office, Chandigarh; CII-Knight Frank ‘India’s Next Real Estate Markets’ report, September 2026