E-Paper
CHB auction: 2BHK flat in Chandigarh’s Sector 51-A fetches ₹1.33 crore
As many as 40 residential units on a freehold basis and 88 commercial properties on a leasehold basis were up for auction. While eight residential properties went under the hammer, fetching the CHB a revenue of ₹7.87 crore against the total reserve price of ₹7.16 crore, the commercial properties found no takers.
A two-bedroom flat in Sector 51-A went under the hammer for a whopping ₹1.33 crore against the reserve price of ₹1.07 crore, during an e-auction by the Chandigarh House Board (CHB) that concluded on Wednesday.
As many as 40 residential units on a freehold basis and 88 commercial properties on a leasehold basis were up for auction. While eight residential properties went under the hammer, fetching the CHB a revenue of ₹7.87 crore against the total reserve price of ₹7.16 crore, the commercial properties found no takers.
While the two-bedroom flat in Sector 51-A fetched the highest at ₹1.33 crore, another flat in the same sector went for ₹1.24 crore, against the reserve price of ₹1.07 crore. Another two-bedroom flat in Sector 51-A was sold for ₹1.21 crore against the reserve price of ₹1.07 crore. Of the total, six residential units put up for auction were located in Sectors 51-A.
An EWS flat in Sector 52 sold for ₹24.41 lakh against the reserve price of ₹24.37 lakh and a Category IV flat in Manimajra was sold for ₹53.41 lakh against the reserve price of ₹53.36 lakh.
CHB chief executive officer Yashpal Garg said they had earned ₹7,87,52,444 in revenue from the sale of eight residential units. The remaining properties would be put up for auction again, he added. He said the highest bidder would have to make ₹25% payment by July 12 to avoid forfeiture of the earnest money deposit and blacklisting from future tendering processes of the board.
Having failed to attract buyers to its commercial as well as residential properties offered on a leasehold basis, the CHB had sought permission from the UT administration to allow conversion of leasehold properties to freehold.
In a letter to the secretary, estates, in February, the CHB had stated many residential and commercial units constructed by the CHB on land allotted by the administration on a leasehold basis were lying unsold for years. The CHB had sought permission to sell such built-up residential and commercial properties on a freehold basis. However, the CHB is yet to get a response.
