Chandigarh Housing Board invites bids for residential, commercial units

Despite poor response to leasehold commercial units in previous auctions, the reserve price has not been reduced by the Chandigarh Housing Board

The Chandigarh Housing Board (CHB) will be auctioning 32 residential units on freehold basis and 88 commercial properties on leasehold basis from July 21.

In the last auction, from the sale of the eight freehold residential units, the Chandigarh Housing Board had earned a revenue of ₹7.87 crore against the total reserve price of ₹7.16 crore. (HT File Photo)

Notably, despite poor response to leasehold commercial units in previous auctions, the reserve price has not been reduced. Among residential properties, the reserve price for a two-bedroom flat in Sector 51 has been set at ₹95.34 lakh.

A CHB official said these properties were located in various sectors of the city. Bidders can check their reserve price by visiting the board’s website. Interested people can submit their bids from July 21 to August 11.

In the previous auction that concluded on July 5, the board had managed to sell only eight of the 40 residential units on offer, with a two-bedroom flat fetching a record price of ₹1.33 crore, while the 88 commercial properties had found no taker.

From the sale of the eight freehold residential units, CHB had earned a revenue of ₹7.87 crore against the total reserve price of ₹7.16 crore.