Launched on April 1, the Chandigarh Housing Board’s new housing scheme in Sector 51 has failed to attract buyers due to ‘sky-high prices’ of the 2BHK (bedroom, hall, kitchen) flats. So far, only 50 applications have been received for 200 flats with only 833 forms being sold. The deadline for the project has also been extended twice --from April 30, then May 7, and now May 23. Two applicants have even applied for withdrawal, making it the poorest response for its schemes.
The CHB’s Sector-63 housing scheme launched in 2008 had received over 22,000 applications for its 2,100 flats.
Experts attribute the poor response to the high prices of the flats with each flat priced at Rs 69 lakh.
The fact that the complete amount has to be paid within three months has also put-off residents, has the three-year time for possession.
Residents claim flats of similar dimensions are easily available at a far lower prices in other cooperative societies of Chandigarh.
Another clause, that of a five-year lock-in-period — applicants can’t sell flats before five years of the possession — has also created doubts in the buyers’ minds. Even the cost of brochure has been fixed for Rs 2,000.
Chief advisor of Property Consultant Association, Chandigarh, Kamaljit Singh Panchhi, said, “Nobody is going to buy flats at such high rates; it’s going to be a flop show. Earlier, the applicants had to pay the entire amount in two years, but now they are being asked to pay it in just three months, while the possession will be given in the next three years. We appeal the CHB authorities not to act like builders. As a government body, it should provide houses at affordable rates.”
CHB chairman Maninder Singh said, “The last date of submitting application is May 23. We still hope for a good response. Our aim is to provide housing facilities to genuine buyers, not the property dealers.”
Another senior CHB official added that the clause mandating payment in three months — onetime payment — is to reduce the workload of the CHB staff.
Amardeep Singh, a resident of Sector 21, said, “I paid Rs 2,000 to buy the application form, but after reading the terms and conditions, I dropped the idea. It is difficult to pay Rs 69 lakh in 90 days.”
The scheme comprises 200 two-bed rooms four-storey (stilt +4) flats to be allotted on a selffinance basis.
The allottees will be required to make 100% payment of the chargeable price within 90 days from date of issuance of an acceptance-cum-demand letter as per the terms and conditions.
Initially, a customer will have to deposit a total of Rs 6.9 lakh. In addition, Rs 50,000 over and above the price of a dwelling unit will be charged at the time of the possession.
The amount will be deposited in accounts of the resident welfare associations for maintenance of common areas.