From Periphery to Powerhouse: Mohali’s Ascent as a Real Estate Powerhouse

By Umang Jindal

In the last few years, Mohali, one of Chandigarh’s most promising suburbs, has emerged as the real estate sector’s most glaring success story.

With its proximity to the Himalayas, the cool climate has always been an advantage. The closeness to the Zirakpur industrial hub has added to its stunning rise. This, along with its advantage as Chandigarh’s twin city, has given Mohali its edge.

This has led to a massive 65 per cent spike in land prices since 2021. Moreover, with its luxury residential projects commanding upwards of INR 10,000 per sq ft price, Mohali, instead of being known as a satellite city, has carved an independent identity of its own.

Infrastructure: The catalyst

The Airport Road, now dubbed “Mohali’s Wall Street,” tells the tale. Flanked by DLF’s glass-and-steel towers and Godrej’s plotted farms, this corridor has become a litmus test for ambition. The completion of the Chandigarh-Mohali Elevated Road slashed commute times to 12 minutes while the upcoming Aerocity—a INR 9,200 crore aviation and IT hub—is luring giants like Infosys and Boeing.

As per North India’s real estate experts, with developers in the city building to serve the contemporary requirement, keeping in mind the emerging future needs, Mohali isn’t catching up; it’s leapfrogging. This has led to immense NRI interest in Mohali’s real estate, especially those from Punjab. And with the airport just 20 minutes away, the world for Mohali has shrunk even further.

NRI Interest: Rooted in emotion, driven by value

Emotional ties: For many NRIs, investing in Mohali isn’t just a financial decision—it’s a sentimental one. Buying property here provides a tangible connection to their homeland, fulfilling a deep desire to stay connected to their roots.

Affordability advantage: Compared to skyrocketing property prices abroad, real estate in Mohali offers significantly more value for money. Whether it’s luxury apartments or plotted developments, NRIs can access high-quality projects at competitive rates.

Holiday homes and retirement plans: Many NRIs are also eyeing Mohali as a location for vacation homes or future retirement drawn by its calm environment, wellness-focused infrastructure and proximity to nature and major transport hubs.

Strong ROI potential: With commercial rents and residential values on a steep rise, Mohali presents an attractive opportunity for rental income and long-term capital gains.

Ease of access: Thanks to Mohali’s international airport and direct connectivity to major global cities, overseas buyers find the city convenient for visits and management of properties.

The state government is also committed to Mohali’s emergence as a world-class city and has allocated massive funds for infrastructure development. It includes a 25-km metro link to Chandigarh, smart sewage systems and six-laning key corridors. The government is also set to develop Mohali as a “multi-modal transport hub,” blending sustainability with global-city ambitions through greenfield projects like Aerocity.

Retail mirrors the boom. Rents in the city’s commercial properties have ballooned 28 per cent since 2022 as brands like Zara and Starbucks chase high-net-worth millennials. But Mohali’s ace isn’t commerce—it’s balance. Projects by leading real estate developers blend LEED-certified offices with cycling trails while newly emerging carbon-neutral townships tap into post-pandemic wellness mania.

FY26: The tipping point

With Gurugram-level rents but half the chaos, Mohali’s pitch is irresistible. Proptracker data shows commercial leases jumped 41 per cent YoY in Q1 2025 while plotted developments sold out in an extremely short time. As the longtime city’s realty consultants say that they are not just selling homes but selling proximity. Shimla is 3 hours away, Delhi is a 4-hour drive and Dubai’s a direct flight. Mohali’s is at the centre of all of this.

As a result, Mohali makes for great investment choices both for end users and investors. Given that the economy is opening up, industrial growth is on an upward trajectory and India is making rapid strides on the development fronts, these developments augur well. Cities like Mohali exhibit tremendous potential, making it one of the fastest-growing realty hubs in the country.

As Tier-I cities gasp under overcrowding, Mohali’s rise mirrors a national recalibration. It’s proof that India’s next growth wave won’t ripple from metros—it’ll erupt from the margins. For investors, the equation is simple: Chandigarh built the blueprint, but Mohali is writing the future.

The author is CEO of Homeland Group