Only 6 of 128 units sold at Chandigarh Housing Board’s e-auction

The sale of two residential and four commercial properties fetched the Chandigarh Housing Board a total of ₹3.84 crore against the reserve price of ₹3.70 crore

Chandigarh Housing Board’s latest attempt to auction properties turned out to be yet another damp squib.

While the Chandigarh Housing Board had offered 128 properties, including 38 freehold residential units and 90 leasehold commercial units, it could sell only six as the auction concluded on Tuesday. (Getty images)

While the board had offered 128 properties, including 38 freehold residential units and 90 leasehold commercial units, it could sell only six as the auction concluded on Tuesday.

The sale of two residential and four commercial properties fetched the board a total of ₹3.84 crore against the reserve price of ₹3.70 crore. The four residential properties sold are located in Sectors 51 and 38 West, while the two commercial properties are in Sector 38 West.

Two two-bedroom flats in Sector 51-A, which had a reserve price of ₹92 lakh each, were sold for ₹95 lakh and ₹98 lakh. A similar flat in the area went for ₹98 lakh against the reserve price of ₹95 lakh. Then, an EWS flat in Sector 38 (West) was sold for ₹25.57 lakh against the reserve price of ₹25.47 lakh.

Both commercial units had a reserve price of ₹31.93 lakh. While one was sold for ₹35 lakh, another went for ₹33 lakh.

CHB CEO Yashpal Garg said the unsold properties will be offered in the next auction. “The highest bidder is required to make 25% payment by May 2 to avoid forfeiture of earnest money deposit and blacklisting from future tendering processes,” he added.