Chandigarh housing board auctions 36 freehold dwelling units – ET RealEstate

CHANDIGARH: The Chandigarh Housing Board (CHB) has auctioned 36 freehold dwelling units available in Sectors 38 (West), 49, 51 and 63.

Last month, the UT had put up 109 flats on auction.

Yashpal Garg, chief executive officer, CHB, said considering there was total secrecy about number of bids and the bid amount, the Chandigarh Housing Board could better competitive prices.

For many of the dwelling units, though single bid was received, it was considerably higher than the reserve price. The e-tender resulted in better revenue for the Chandigarh Housing Board. This is the first time that such a good response has been received, he added.

Giving example, he said many of units got single bid, but the highest bid, which was Rs 8 lakh to 11 lakh, higher than the reserve price. Similarly, many of the units got highest bids, which was Rs 12 lakh to 15 lakh higher than the reserve price.

The maximum difference between reserve price and highest bid was Rs 18.88 lakh for a three bed room flat in Sector 63. The minimum difference between reserve price and highest bid was Rs 74,160 for a two bedroom flat in Sector 51.

The highest bid for a 3BHK in Sector 63 was Rs 1.05 crore and the highest bid for two BHK in Sector 51 went for Rs 99.01 lakh and a EWS flat in Sector 63 for Rs 30 lakhs.

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