A Tale of Chandigarh's Pricey Gentrification

Chandigarh, India's first planned city, has long been admired for its modernist vision and orderly development.

- Aashna Gakhar

Designed by Swiss-French architect Le Corbusier, the city is now witnessing an unprecedented surge in real estate prices, exemplified by what's been circulating on the grapevine about a residential plot being valued at a staggering ₹200 crore. This astronomical valuation is a clear sign of the rapid gentrification sweeping through the city. But what does this mean for its residents, urban landscape and the city's original ethos?

The gentrification wave Gentrification, a process where urban areas are transformed through the influx of wealthier investors, is often accompanied by rising property prices, commercial redevelopment and a shift in local demographics. Chandigarh's real estate boom is not just about demand and supply but a broader shift toward exclusivity. A quick glance at property listings reveals that prime sectors, such as single-digit sectors, have seen exponential appreciation. Investors, developers and ultra-high-net-worth individuals (UHNIs) are reshaping the housing market, making it increasingly unaffordable for middle-income groups. The aspirational charm of living in Chandigarh, coupled with its limited land availability, has further intensified this upward trend.