chandigarh despite the real estate sector showing signs of improvement all over the country the property prices in chandigarh continue to tumble reveals recentlyreleased report of economic surveythe report which was tabled in parliament on monday chandigarh is among the top tier2 cities which have recorded a significant fallthe report has quoted data of nhb residex official housing price index undertaken on the directions of the union finance ministry the housing price index showed increasing annual trend in 36 cities during apriljune in 2017 out of 50 major cities across the country vizag recorded the highest increase of 157 per cent followed by delhi with rise of 81 per cent while noida recording the nadir increase of 09 per cent the highest decline was recorded in bhiwadi 106 per cent among the 13 cities witnessing a fall in price followed by coimbatore 66 per cent and chandigarh 59 per centthe nhb residex data reveals that the carpet area price of properties measuring up to 646 square feet has come down to rs 3876 per square feet in june 2017 from being at rs 4886 per square feet in june 2015 carpet area cost of real estates between the 646 square feet 1184 square feet bracket came down to rs 3801 in june 2017 from being rs 3901 per square feet in june 2015 the price of properties measuring above 1184 square feet has also seen a stark fall the properties which were quoted at rs 4374 per square feet were later available for rs 4129 per square feet maximum fall in price has been recorded in sectors 8 9 10 11 16 22 34 35 44 and 47high collector rates and conversion charges are touted to be the primary reasons for few buyers in the market the collector rate is the lowest rate at which a property is registered it is fixed by the administration and the prices are revised every year the existing collector rate in chandigarh is higher than panchkula and mohali at present collector rates in many areas of the city are disproportionately higher than the actual property rates recently the administration had lifted the embargo imposed on transfer of leasehold to freehold residential properties and increased the conversion rates by manifoldbox mc auction failedthe auction of builtup booths in mauli jagran on december 14 by the mc evoked a poor response as only five out of 112 booths were sold the corporation had held the auction on leasehold basis for 99 years