Phoenix Mills Sector 62: An Upcoming Retail-Led Landmark at YPS Chowk, Mohali
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Phoenix Mills Sector 62 (Mohali) marks Phoenix's formal entry into the Chandigarh Metropolitan Region. Casper Realty, a wholly owned subsidiary of The Phoenix Mills Limited, has been declared the highest bidder for two prime city-centric plots located in Sector 62, YPS Chowk, Sahibzada Ajit Singh Nagar (Mohali), auctioned by the Greater Mohali Development Area Authority. Casper was declared the highest bidder with a combined bid value of approximately Rs. 891 crores, a scale of commitment that signals long-term intent rather than a speculative land buy.
The intent for the site is unambiguous: the company intends to develop an iconic retail-led mixed-use destination on this land parcel which will include retail, cinemas, world-class F&B, commercial offices and hotels. This is the same format Phoenix has repeated across the country, where a single address is built to hold shopping, dining, entertainment, workspaces, and hospitality without asking visitors to leave the site.
Phoenix's design language across its portfolio favours large-format, brand-led retail floors paired with Grade A office towers and branded hospitality, a template drawn from a group with over a century of built experience. The Phoenix Mills Limited, including its subsidiaries, is India's leading owner, operator and developer of retail-led mixed-use destinations, having carved a niche through retail malls, commercial offices and hospitality assets. That same institutional discipline in planning, leasing, and asset management is expected to carry into the Mohali site.
The timing follows a wider CMR growth story. The Chandigarh Metropolitan Region, which includes Chandigarh and surrounding cities such as Panchkula, Mohali, Zirakpur, New Chandigarh, Kharar, Pinjore, Kalka and Barwala, sits at the crossroads of Punjab, Haryana and Delhi and has evolved into a popular real estate development area. A site at the literal boundary of Chandigarh and Mohali, on a 13.14-acre parcel, gives Phoenix a scale rarely available within an already built-up urban belt.
The site is being positioned as a new gathering point for the region, one built on the same retail-led mixed-use principles that have defined Phoenix's malls across Mumbai, Pune, Bengaluru and Chennai, now arriving at Mohali's doorstep.
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YPS Chowk, Sahibzada Ajit Singh Nagar, Mohali, Punjab · Mohali
Sector 62 sits at YPS Chowk, situated at YPS Chowk between Chandigarh and Sahibzada Ajit Singh Nagar (Mohali), well-positioned to capitalize on the growing demand for retail and entertainment spaces in the Chandigarh Metropolitan Region. Within the sector itself, the area is home to the Punjab Urban Planning and Development Authority headquarters, the Punjab School Education Board headquarters, Fortis Healthcare, and Cosmo Hospital, giving this address an institutional and civic anchor uncommon for a retail-led site. The chowk itself functions as a connector between two urban cores, placing the land parcel within the immediate catchment of both cities.
This border position is precisely why the land was contested at auction: given the strategic location, amidst a dense residential catchment and a large captive and urban population, the destination mall can cater to the untapped and growing retail demand in this city and become the dominant consumption centre for Mohali and Chandigarh and the entire Chandigarh Metropolitan Region, including Panchkula and Zirakpur. The surrounding sectors are already seeing comparable mixed-use activity, underscoring the corridor's shift toward larger-format, city-facing development.
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A 1.6-km flyover at a key Chandigarh intersection is set to begin construction, aimed at easing traffic congestion on the corridor linking Chandigarh to Mohali and YPS Chowk.
A dedicated IT City is being developed in Sector 101 with planned civic upgrades, including a Sewage Treatment Plant and Zero Liquid Discharge plant, strengthening the region's employment base.
Greater Mohali Development Area Authority has been actively auctioning city-centric commercial plots around YPS Chowk, drawing large developer investment into this specific Chandigarh-border corridor.
The wider CMR, spanning Chandigarh, Mohali, Panchkula and Zirakpur, continues to attract real estate development given its position at the crossroads of Punjab, Haryana and Delhi.
Other developers have committed over a thousand crore rupees to mixed-use land parcels opposite YPS in Sector 62, signalling sustained momentum for large-format development on this corridor.
Phoenix Mills traces its roots to 1905 and has grown from a Mumbai textile mill into India's largest retail-led mixed-use developer, bringing over a hundred years of institutional experience to this Mohali site.
The 13.14-acre site sits directly at YPS Chowk, the connecting point between Chandigarh and Mohali, giving it access to two established urban catchments rather than one.
The plan brings together retail, cinemas, F&B, commercial offices and hotels on a single address, following the same self-contained destination model Phoenix has used across its national mall portfolio.
The project is envisioned to serve not just Mohali but the wider Chandigarh Metropolitan Region, including Panchkula and Zirakpur, given the density of the surrounding residential catchment.
The land was secured through a formal GMADA auction process for approximately Rs. 891 crore, reflecting strong developer conviction in the site's long-term commercial value.
Sector 62 already hosts the Punjab Urban Planning and Development Authority headquarters, the Punjab School Education Board headquarters, Fortis Healthcare and Cosmo Hospital, giving the address built-in institutional weight.
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