500 square yard residential plot in Chandigarh’s Sector 19 goes for ₹8.9 crore

In all, 12 residential sites in Chandigarh were on offer during the three-day auction of Estate Office, but only three found takers

A 500.5 square yard residential plot in Sector 19 went for ₹8.9 crore against the reserve price of ₹6.34 crore in the latest auction of the Chandigarh Estate Office that ended on Thursday.

Another 557.3 square yard plot in Sector 21C went for ₹7.85 crore against the reserve price of ₹7.06 crore. (Shutterstock)

In all, 12 residential sites were on offer during the three-day auction, but only three found takers.

Among the other two properties that were sold were a 557.3 square yard plot in Sector 21C that went for ₹7.85 crore against the reserve price of ₹7.06 crore and a 343.9 square yard plot in Sector 37 that raked in ₹5.26 crore compared to the reserve price of ₹4.35 crore.

Assistant estate officer Sorabh Arora said due to inadequate competition, bidding for six of the total 12 sites was cancelled.