New Real Estate Hotspots Emerge as Tricity Prices Soar: Kurali, Lalru, and Dera Bassi Take Center Stage

With property prices in Chandigarh, Mohali, and Panchkula touching unprecedented highs, the dream of owning a home in the Tricity is steadily slipping out of reach for the middle class. As Zirakpur and Kharar, once considered affordable alternatives, approach saturation, a fresh set of peripheral towns is emerging as the new real estate hotspots: Kurali, Lalru, Dera Bassi, and areas along Kurali-Morinda Road.

Real estate agents say residential plots in these areas, priced between Rs 20,000 and Rs 80,000 per square yard, are now being viewed as “within range” for end users looking to build homes.

In Lalru and Dera Bassi, plots are selling between Rs 20,000 and Rs 50,000 per square yard, depending on location and proximity to highways. In Kurali and along the Morinda-Ludhiana Road, prices range from Rs 20,000 to Rs 35,000 per square yard, a bracket that buyers describe as relatively affordable compared to the Tricity core.

“Kharar, towards Ludhiana, every square yard is available between Rs 20,000 and Rs 35,000. For someone buying a 100 square yard plot, it is still manageable,” said Davinder Pal Singh Vasdev of Amarya Greens housing projects. “A 3BHK apartment here is sold for around Rs 75 lakh. In Mohali, a 3BHK is available for over Rs 1 crore to Rs 2.5 crore. In Chandigarh, it is not less than Rs 3 crore to Rs 3.5 crore. In these upcoming areas, we are seeing genuine end users, not investors,” he added.

According to Vasdev, the shift marks a significant change in buying patterns. “Earlier, investors would buy multiple units expecting appreciation. Now, it is families who want to construct their own houses and live there,” he said.

Realtors in Mohali say land rates have climbed steeply over the past few years, especially in developed sectors. “While old Mohali has hit the saturation point, with property owners asking for anything, every square yard in Mohali is not less than Rs 1.5 lakh,” said Lohit Kaushal, a Mohali-based realtor. “This is mostly unaffordable for lower-middle-class and lower-class buyers. They are rushing to areas like Kurali. Zirakpur once developed as a hub for such buyers, but not anymore. It has reached saturation. The town is overpopulated, and traffic is chaotic. People are now looking at lesser congested areas,” he added.

The spillover effect from Mohali’s expansion has also altered price dynamics along the Landran-Banur Road. “Till the Landran-Banur Road, prices had gone up to as much as Rs 1.25 lakh to Rs 1.50 lakh per square yard. Even beyond that, for instance, in Sector 108, every square yard was available for Rs 90,000. That meant a 100-square-yard plot would cost Rs 90 lakh. Hence, the Kurali side is now becoming a hotspot,” Kaushal said.

Banur, too, has seen a sharp escalation in rates following the development of Aerocity and the upcoming Aerotropolis near the international airport. “Prices have skyrocketed. Land near the highway is very expensive, and common people cannot afford it,” said another realtor requesting anonymity. “Banur is seeing slower colonisation because of high prices. Builders are now going for stilt-plus-four projects. Only such models are feasible because that is where they can generate some profit,” the realtor added.

Industry observers say the movement towards Kurali, Lalru, and Dera Bassi reflects a classic outward ripple effect of urban growth, where affordability and congestion dictate migration patterns.

“While infrastructure in these emerging pockets is still evolving, buyers choose this for cost savings and the promise of less crowded neighbourhoods. This suits me well. Our biggest challenge is to see if these towns can sustain the influx and avoid the pitfalls of unchecked growth,” said Jaswant Singh, a resident, who purchased a 250 square yard plot in Kharar. “But at least we are far away from the maddening crowds of the city,” he added.