Auction schedule of 269 Chandigarh housing board’s properties out on March 8 – ET RealEstate

CHANDIGARH: The Chandigarh Housing Board (CHB) directors will take a call on finalising the auction schedule of 269 properties on March 8.

The 269 properties include 11 residential (leasehold), 108 residential (freehold) and 150 commercial (leasehold) that will be auctioned in a phased manner. The CHB had recently reduced their reserve price by 10% to 20% after witnessing a poor response to a bidding attempt last year.

These properties are in sectors 51, 63, 38 (west), 39 and Manimajra and include 51 new flats, which were part of CHB’s costliest housing scheme in the city. Besides these, the commercial properties are located in Manimajra, sectors 51 and 61 and Maloya.

A senior board official said these properties were lying vacant for the past many years and their condition was deteriorating as the CHB had failed to auction them over the years. These will be auctioned in a phased manner, he added. The board has tied up with NIC for e-auction.

After registration with the CHB, interested bidders will have 10 to 15 days’ time to place their bid.

The board has fixed the reserve price of HIG flat (leasehold) in Sector 39 at Rs 1.05 crore, of a three-bedroom flat (freehold) in Sector 63 at Rs 86.24 lakh, a two-bedroom flat in Sector 51 between Rs 81 lakh and Rs 84 lakh.

The reserve price of one-bedroom flat has been fixed at Rs 39.38 lakh and EWS flat at Rs 24.35 lakh in Sector 49, while that of a two-bedroom flat in Sector 49 between Rs 69.87 lakh and Rs 71.26 lakh.

The reserve price of a two-bedroom flat in Sector 63 has been fixed at Rs 67.3 lakh, of an HIG flat (leasehold) in Sector 45-A at Rs 1.07 crore, of a restaurant site in Manimajra at Rs 2.59 crore and of a small booth (corner) at Rs 97 lakh.

Earnest money

For properties worth Rs 1 crore, the earnest money will be around Rs 2 lakh, for Rs 1 crore to 1.5 crore, around Rs 3 lakh and for Rs 1.5 crore to Rs 2 crore, around Rs 4 lakh. However, the final decision will be taken in the board’s meeting on March 8.

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