Property prices in the city continue to vary sharply across different localities with prime commercial stretches witnessing exceptionally high rates and according to Rajiv Duggal, President of the Model Town Shopkeeper Welfare Association areas within and around Model Town reflect a wide pricing spectrum depending on location and its commercial value.
Duggal stated that while the average property rate in Model Town area stands at around ₹12 lakh per marla with certain premium pockets seeing a massive spike. The most expensive among them is the Nik Bakers Road stretch where prices have reached up to ₹1.75 crore per marla with this he added that only two shops are currently available for sale in this high-demand area indicating limited supply and strong market demand.
Other key locations also show varied pricing trends. Rainbow Road is priced at approximately ₹7 lakh per marla while properties around Mata Rani Chowk are valued at nearly ₹70 lakh per marla while in the Sabharwal area rates range between ₹11 lakh to ₹15 lakh per marla.
Highlighting the scale of the commercial ecosystem Duggal mentioned that Model Town comprises nearly 700 shops spread across around 100 roads making it one of the busiest commercial hubs in the city.
However, despite the sharp rise in market rates the official DC (Deputy Commissioner) rates remain significantly lower ranging between ₹8 lakh to ₹9 lakh per marla.
