E-Paper
Hoping for more takers, CHB cuts reserve prices by 10%
Putting 137 properties on offer in its February auction, CHB has invited e-bids from February 8 to March 7 through its website
After a trail of flop auctions, the Chandigarh Housing Board (CHB) has slashed the reserve prices of leasehold commercial properties by 10% ahead of the next auction.
Putting 137 properties on offer, the board has invited e-bids from February 8 to March 7 through its website.
Among the total properties, 45 are freehold residential units and 92 are leasehold commercial units.
The decision to reduce the reserve prices came after the previous auction, held on January 24, proved to be a damp squib with only nine takers for 140 properties. Out of 91 commercial properties on leasehold basis, only two were sold.
CHB chief executive officer Yashpal Garg said, “The reserve prices of commercial properties have been slashed by 10%. So, we are hoping to get better response this time.”
Willing participants may visit the board’s official website — www.chbonline.in — to understand the detailed procedure for submission of earnest money deposit (EMD) and e-bids. The detailed tentative list, mentioning localities/sectors of the built-up units and reserve price, can also be downloaded from the website .
“To submit e-bids, every prospective bidder is required to get registered at https://etenders.chd.nic.in. A valid e-mail ID, mobile number and digital signature are the basic requirements to participate in the e-render process,” Garg said.
The e-bid must be above the reserve price and the bidders can revise their e-bids, any number of times, till closure of bid submission. The properties will be allotted to the highest bidder.
The dwelling units can be further sold, alienated, transferred, etc., after the execution of conveyance deed with CHB, as per law and the board’s transfer policies applicable to freehold properties.
