Chandigarh housing board to auction 110 residential freehold properties soon – ET RealEstate

CHANDIGARH: As the board of directors of the Chandigarh Housing Board (CHB) approved auction of 270 properties, the officials have decided to first auction 110 residential (freehold) properties.

The board officials have started the process of auction of 110 residential properties. After completing the process of auction of 110 residential (freehold) properties, the board will start the auction process of 150 commercial (leasehold) and 11 residential (leasehold) properties next month.

The properties will be auctioned through e-tendering only, said an official. The CHB had recently reduced reserved price of these properties by 10 per cent to 20 per cent. The CHB’s proposal was also approved by the Chandigarh administration recently.

The reserve price was reduced by 10 per cent to 20 per cent after witnessing poor response to CHB’s attempt to auction properties last year. These 270 properties are in sectors 51, 63, 38 (west), 39, and Manimajra. Among the properties, 51 new flats, which were a part of the CHB’s costliest housing scheme in the city till now, will also be put up for auction.

Besides, the commercial properties are also located in Manimajra, sectors 51, 61 and Maloya.

A senior board official said these properties were lying vacant from last many years and their condition was deteriorating as well. As CHB failed to auction these properties over the years, the decision was taken to auction these properties in a phased manner.

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

For auction of the properties, the board has fixed the reserve price of HIG flat (leasehold) in Sector 39 at Rs 1.05 crore. Similarly, the reserve price of a three-bedroom flat (freehold) in Sector 63 has been fixed at Rs 86.24 lakh, two-bedroom flat in Sector 51 has been fixed 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. Similarly, the reserve price of a two-bedroom flat in Sector 49 has been fixed between Rs 69.87 lakh and Rs 71.26 lakh, keeping in view the location of the flat.

The reserve price of a two-bedroom flat in Sector 63 has been fixed at 67.30 lakh. The reserve price of an HIG flat (leasehold) in Sector 45-A has been fixed at Rs 1.07 crore. Similarly, the reserve price of restaurant site in Manimajra is Rs 2.59 crore. The reserve price of a small booth (corner) has been fixed at Rs 97 lakh.



Source link

Chandigarh estate office to e-auction residential properties in January – ET RealEstate

CHANDIGARH: The UT estate office is planning to hold e-auction of 10-15 residential properties around Lohri in January next year, kick-starting the process after the plan to hold the event during the festival season this year failed to materialise.

Sources said like previous year, the estate office will fix the reserve price of properties on collector rates of the area.

In 2019, the estate office had put up properties — 11 residential, 14 commercial and one industrial — for auction on November 13 and 14. While there were no takers for commercial and industrial properties, the estate office had earned Rs 44.05 crore from the residential properties. Their total reserve price was Rs 27.59 crore.

A 1,014 square yard plot (which was around 2 kanal) in Sector 33 was auctioned for Rs 15.30 crore against a reserve price of Rs 7.53 crore. All residential properties were in southern sectors.

One of them was a built-up house on a four-marla plot in Sector 32 A. It was auctioned for Rs 1.68 crore against a reserve price of Rs 1 crore. The remaining properties were plots, whose reserve prices ranged from Rs 1.25 crore to Rs 7.53 crore. They were located in sectors 33, 35, 37, 38 and 40.
Chandigarh estate office to e-auction residential properties in JanuaryAccording to market experts, there were buyers for residential properties as all of them were freehold and anyone who buys them will not have to shell out the exorbitant leasehold-to-freehold conversion fee charged by the administration. The total reserve price of commercial and industrial properties was Rs 15.1 crore and Rs 33 crore, but they did not find any takers.

A workshop will be organised on how one can participate in the e-auction.



Source link