Chandigarh: 200 bidders visit CHB units, can submit bids by May 31 – ET RealEstate

CHANDIGARH: As the Chandigarh Housing Board (CHB) has already set up five help desks for assistance to bidders for the e-tender of 79 residential units in different parts of the city, around 200 prospective bidders have already visited these CHB units.

The CHB, on May 17, had started auction process of 79 freehold residential properties in different sectors of the city through e-tender process. Bidders can submit their bids against properties by May 31.

A senior CHB official said they are hopeful of good response in the coming days as well. People are coming at these help desks and enquiring about dwelling units. One help desk each has been set up at sectors 38 (west), 49 and 51, and two at Sector 63.

In the last auction, the CHB was able to auction 36 freehold dwelling units. The highest bidders were required to deposit 25% of the bid amount within five working days. However, six highest bidders could not deposit the 25% amount within the prescribed period and accordingly their earnest money deposit (EMD) amount of Rs 2 lakh each were forfeited by the board.

Yashpal Garg, CEO of the Chandigarh Housing Board, said they have included these six freehold properties in the upcoming auction and in total 79 freehold units have been put up for auction.

He said the board had adopted secrecy in the last auction and the same formula will be implemented this time too.

The CHB has prepared a list of 270 properties, including 11 residential (leasehold), 109 residential (freehold) and 150 commercial (leasehold), for sale. The CHB has started auction of freehold residential units. The remaining properties will be put up for sale at later stages.

To get a good response, the CHB had reduced the reserve price of the properties by 10 per cent. Not even a single bidder expressed interest in the auction of CHB properties held in 2019 as the reserve price was too high for both residential and commercial properties.

This time, the CHB has decided to replace the e-auction process of selling properties with the e-tender process. In e-auction, the earnest money deposit (EMD) for participation cannot be paid online. A bidder deposits the same in the CHB account and submits a proof. The payment is confirmed by the CHB officers before allowing the bidder to participate in the e-auction process. Hence, number of bidders for particular property and their identity is not fully confidential.

However, in e-tender, EMD can be paid online and there is no need of any approval and hence there is complete secrecy about the number of bidders and their identity.



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Five help desks for auction of 79 Chandigarh housing board residential units – ET RealEstate

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CHANDIGARH: The Chandigarh Housing Board (CHB) sets up five help desks for the assistance of bidders, for the e-tender of 79 residential units in different parts of the city.

The CHB on May 17 had started auction process of 79 freehold residential properties in different sectors of the city through e-tender process and bidders can submit their bids for properties by May 31.

The help desks are in sectors 38 West, 49 and 51, and two at Sector 63.

In the last auction, the CHB was able to auction 36 freehold dwelling units. The highest bidders were required to deposit 25% of the bid amount within five working days. However, six highest bidders could not deposit the 25% amount within the prescribed period and accordingly their earnest money deposit (EMD) amount of Rs 2 lakh each have been forfeited by the board.

Yashpal Garg, CEO of Chandigarh Housing Board, said they have included these six freehold properties in the upcoming auction and in total 79 freehold units have been put up for auction.

He further added that the board had adopted complete secrecy in the last auction and the same formula will be implemented in the upcoming auction.

The CHB has prepared a list of 270 properties, including11 residential (leasehold), 109 residential (freehold) and 150 commercial (leasehold), for sale. The CHB has started with auction of freehold residential units. The remaining properties will be put up for sale at later stages.

To get a good response, the CHB had reduced the reserve price of the properties by10%. Not even a single bidder expressed interest in the auction of CHB properties held in 2019, as the reserve price was too high for both residential and commercial properties.

This time, the CHB had decided to replace the e-auction process of selling properties with the e-tender process. In eauction, the earnest money deposit (EMD) for participation cannot be paid online. The bidder deposits the same in the CHB account and submits a proof. The payment is confirmed by the CHB officers before allowing the bidder to participate in the e-auction process. Hence, number of bidders for particular property and their identity is not fully confidential.

However, in e-tender, EMD can be paid online and there is no need of any approval and hence there is complete secrecy about the number of bidders and their identity.



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Chandigarh housing board to start e-tendering of 79 residential properties on May 17 – ET RealEstate

CHANDIGARH: The Chandigarh Housing Board (CHB) will start the auction of 79 freehold residential properties in different sectors of the city through e-tender from May 17. Bidders can submit their bids by May 31.

In the last auction, the CHB was able to auction 36 freehold dwelling units. The highest bidders were required to deposit 25% of the bid amount within five working days. However, six highest bidders could not deposit the amount and their earnest money deposit (EMD) of Rs 2 lakh each was forfeited.

Yashpal Garg, CEO of Chandigarh Housing Board, said they have included these six freehold properties in the upcoming auction and in total 79 freehold units would be put up.

He added that the board had adopted complete secrecy in the last auction and it would be implemented in the upcoming auction too.

The CHB has prepared a list of 270 properties, including 11 residential (leasehold), 109 residential (freehold) and 150 commercial (leasehold), for sale. The CHB has started with auction of freehold residential units. The remaining properties will be put up for sale at later stages.

To get a good response, the CHB had reduced the reserve price of the properties by 10%. Not a single bidder expressed interest in the auction of CHB properties held in 2019 as the reserve price was too high for both residential and commercial properties.



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CHB adopts paying guest policy of Chandigarh administration – ET RealEstate

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CHANDIGARH: To provide secure accommodation to students from other states, the Chandigarh Housing Board (CHB) has adopted the paying guest (PG) policy of the UT administration.

โ€œThe PG Policy of the Chandigarh Administration is now applicable for residential areas or dwelling units of the CHB subject to fulfil of the requisite conditions,โ€ said Yashpal Garg, chief executive officer, CHB.

UT adviser Manoj Parida, who is also holding charge of CHB chairman, said it would add to the available accommodation, especially for the students coming to Chandigarh from neighbouring states.

โ€œThe administration is making efforts to provide safe and secure accommodation, especially to girl students and working women in the city,โ€ said Parida. Garg said the owner of the PG accommodation need to ensure that no front office system is maintained and the house should appear a normal residential house.

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