E-Paper
3BHK flat in Sector 63 fetches CHB ₹1.5 crore
A three-bedroom flat in Sector 63, was auctioned for ₹1.5 crore against its reserve price of ₹1.12 crore, another three-bedroom flat in the same sector went for ₹1.47 crore against the reserve price of ₹1.12 crore, and a 2BHK flat in Sector 51 was auctioned for ₹1.23 crore against the reserve price of ₹97 lakh.
The Chandigarh Housing Board (CHB) e-auction, which concluded on Tuesday, received a lukewarm response for both residential and commercial properties with only 28 of 167 units sold till Tuesday.
A three-bedroom flat in Sector 63, was auctioned for ₹1.5 crore against its reserve price of ₹1.12 crore, another three-bedroom flat in the same sector went for ₹1.47 crore against the reserve price of ₹1.12 crore, and a 2BHK flat in Sector 51 was auctioned for ₹1.23 crore against the reserve price of ₹97 lakh.
Of the total 92 commercial properties on a leasehold basis, only one found a taker, while 26 freehold residential properties were sold.The board, which has invited bids between November 25 and December 20, fetched ₹22 crore against the reserve price of ₹19 crore by selling both commercial and residential properties.
As many as 18 properties were sold in Sector 63, five in sector 51 and two in Sector 49, while one property was sold at Sector 38.
In the previous auction, which concluded on November 9, CHB was able to sell only 13 of 153 units, which included both residential and commercial properties. A three-bedroom flat in Sector 63 had been auctioned for ₹1.36 crore against its reserve price of ₹1.07 crore, while a 2BHK flat in the same sector was sold for ₹95 lakh against a reserve price of ₹72 lakh.
Of 95 commercial properties available on leasehold basis, only three found takers, while 10 of 58 freehold residential properties were auctioned.
CHB chief executive officer Yashpal Garg said, “We have received a good response from residential properties and have earned ₹22 crore. People are not interested in commercial properties due to the leasehold factor,” he said, adding that the highest bidder is required to make 25% payment by December 27 to avoid forfeiture of earnest money deposit and blacklisting from future tendering processes.
Property Federation, Chandigarh, president Kamaljit Singh Panchhi said, “In each auction, commercial properties on leasehold basis do not find takers. However, authorities are loath to sort the issue of conversion of leasehold to freehold.”
Details of the successful bidders have been uploaded on www.chbonline.in
