Nearly a year after getting 123 acres from Parsvnath Developers in the Rajiv Gandhi Chandigarh Technology Park (RGCPT) under the Habitat Project, the Chandigarh Housing Board (CHB) has decided to auction its 13 sites on March 22. The sites covering this 123 acres will be used for constructing housing colonies with provisions of gymnasium, swimming pool, club, community centre and marriage palace.
The reserve price for the sites has been fixed at the present collector rate of the area, which is around Rs 80,000 per square yard. It means, the reserve price of a 4-acre site will be around Rs 154 crore.
On Thursday, CHB chairman Maninder Singh gave a presentation about the project to UT administrator VP Singh Badnore.
Maninder Singh said, “There are 15 sites, but CHB will be constructing 600 flats in two sites. The remaining 13 sites will be auctioned to builder/developers, who will make the mandatory provision of gymnasium and swimming pool at each site. There is also provision of a club, which will have a community centre, a five-star hotel and a marriage palace, which will be developed by the CHB.”
He further said, “Reputed companies are expected to participate in the bidding process. Considering the prime location of the sites, we are expecting it to be a hit.”
At each site, area will be earmarked for hospital, school and fire station. CHB is also planning to construct studio apartments for employees working in the IT sector, hotels, office space besides selling up to 10 acres to builders through e-auction, building institutions like Delhi’s India Habitat Centre, India International Centre, old age homes and a financial hub just like the Bandra-Kurla complex in Mumbai. After the auction of 13 sites, CHB will auction commercial plots.
Plan first mooted in 2006 on 123 acres
In October 2006, the CHB decided to develop residential/commercial and other infrastructure with Parsvnath Developers Limited in IT Park. The amount deposited by the allottees was to be shared in the ratio 70:30 between the developer and the CHB. Thereafter, the CHB transferred 123 acres as freehold to the builder, but the project could not materialise due to various issues, and applicants started demanding their money back, following which the builder approached the court.
In January 2015, the arbitrator appointed by the apex court directed the board to refund Rs 567 crore to the builder.