E-Paper
Chandigarh Housing Board puts 31 freehold properties on sale
The latest offering closely follows Chandigarh Housing Board’s previous auction where the response remained tepid even though all properties were freehold; yet, the board has decided not to decrease the reserve prices
The Chandigarh Housing Board (CHB) has invited e-bids for the sale of 27 residential and four commercial units on freehold basis.
The latest offering closely follows CHB’s previous auction where the response remained tepid even though all properties were freehold. Yet, the board has decided not to decrease the reserve prices.
Of the 27 residential properties, 17 are located in Indira Colony, Manimajra, with reserve prices ranging from ₹32 lakh to ₹34 lakh, and sizes varying from 548 square feet to 562 square feet.
At ₹98.60 lakh, a Category-2 unit in Manimajra, with an area of 1,591 square feet, has the highest reserve price.
An MIG flat in Sector 51, sized 1,027 square feet, has a reserve price of ₹90 lakh. A 367-square feet EWS dwelling unit in Sector 52 has the lowest reserve price of ₹21 lakh.
All four commercial properties are booths, located in Sector 51-A. They are being offered for a reserve price of ₹80 lakh to ₹85 lakh.
“E-tenders for these properties can be submitted from 10 am on June 3 till 10 am on June 22. The bids will be opened the same day from 10.15 am onwards,” said Yashpal Garg, CEO, CHB.
Prospective participants can visit the website, www.chbonline.in, to get the detailed procedure for submission of earnest money deposit and e-bids.
Garg said stickers had been pasted at each unit and their location was also available on Google Maps. The properties can be inspected on Saturday and Sunday from 10 am to 5 pm.
In its last auction, which ended on May 25, CHB had managed to sell only four of the total 35 properties on offer. As many as six commercial and 29 residential properties were up for sale on freehold basis, but only two residential properties were sold, bringing in ₹47 lakh against a total reserve price of ₹43.25 lakh.
The sale of two of the six commercial properties, on sale for a reserve price of ₹1.65 crore, had fetched CHB ₹1.68 crore.
Over the past one year, CHB has sold 189 units through e-auctions, generating a revenue of ₹122.17 crore. Recently, it had got permission from the UT administration to auction its unsold leasehold properties on freehold basis.
