HindustanTimes Tue,21 Oct 2014

Sector 35 parking lot fetches highest bid of Rs. 67 lakhs

HT Correspondent , Hindustan Times   Chandigarh , November 06, 2013
First Published: 23:14 IST(6/11/2013) | Last Updated: 23:16 IST(6/11/2013)

Finally, the municipal corporation (MC) of Chandigarh on Wednesday auctioned 15 of 16 parking lots and earned over Rs. 3.63 crore.


The MC did not get bidders for Piccadily Multiplex (II) parking lot in Sector 34A. The lots have been auctioned for a period of one year. The auction got success after the MC slashed the reserve price of all parking lots.

For the first time, parking lot in Sector 35C, along Himalaya Marg, bagged the highest bid of Rs. 67.05 lakh against the reserve price of Rs. 42.23 lakh. Last year, the parking lot went for Rs. 63 lakh. There were 17 bidders for the said parking lot, but first-timer Gurnam Singh managed the get it.

Contractor Gurnam said, “For the first time we have taken the parking lot. Since there are a lot of popular eating joints in the block and a great rush is witnessed here, we are hopeful of making some profit.”

Similarly, the Idle Truck Parking lot in Sector 26 fetched Rs. 61.1 lakh against the reserve price of Rs. 36.86 lakh.

On the other hand, the parking lot in Sector 35B, along Himalaya Marg, fetched Rs. 25.1 lakh against the reserve price of Rs. 13.5 lakh.

The medical officer (health) parking lot in Sector 17, which was lying vacant for the past two years, went for Rs. 9.4 lakh against the reserve price of Rs. 9.17 lakh.

Sector-8 (zone I) parking lot went for Rs. 31.8 lakh against the reserve price of Rs. 21.34 lakh. The Kiran Cinema, Sector 22, parking lot went for Rs. 3 lakh against the reserve price of Rs. 1.35 lakh.

Speaking to HT, MC additional commissioner Sunil Bhatia said, “We are happy with auction and successful bidders have to pay the service tax of 12.36%, which is mandatory.”

Congress councillor Pardeep Chhabra was also present during the auction.

There are total 24 parking lots in the city and every year the MC earns around Rs. 4 crore. In the auction held on August 13 this year, the MC received a jolt as they failed to find even a single bidder in the auction for the five paid parking lots. The bidders did not come forward due service tax of 12.36% imposed on them.

Top five
Parking lot                                                Reserve price       Winning bid
Sector 35C, along Himalaya Marg              Rs 43 lakh            Rs. 67 lakh
Idle Truck Parking, Sector 26                     Rs. 37 lakh            Rs. 61 lakh
Sector 8 (zone 1)                                        Rs 21 lakh            Rs. 32 lakh
Sector 35B, along Himalaya Marg               Rs. 14 lakh            Rs. 25 lakh
Sector 22B, Himalaya Marg                        Rs. 12 lakh            Rs. 23 lakh

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