Another auction, another flop show for UT housing board
As per details, the Chandigarh Housing Board had invited bids for 44 freehold residential properties and 92 leasehold commercial properties from February 8.
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According to the Chandigarh Housing Board, the successful bidders now are required to make 25% payment by March 15 to avoid forfeiture of their earnest money deposit and from being blacklisted from future tendering processes. The Chandigarh Housing Board (CHB)’s e-auction again evoked a lukewarm response with only 10, out of 136 properties that had gone under the hammer, finding takers.
Interestingly, the housing board this time had even slashed the reserve price of commercial properties by 10 per cent, despite which its e-auction turned out to be a damp squib.
As per details, the Chandigarh Housing Board had invited bids for 44 freehold residential properties and 92 leasehold commercial properties from February 8.
The auction officially concluded on Tuesday, with the board managing to sell eight residential and two commercial properties. The auction fetched the board a total of Rs 5.19 crore, against the reserve price of Rs 4.97 crore.
Officials said that the two commercial properties sold are located in Sector 49-B, and both of them went at the same price of Rs 46 lakh, against the reserve price of Rs 43 lakh.
The housing board, in its last auction that was held on January 24 this year, had managed to sell only nine of the 140 units that had gone under the hammer. Of the nine properties auctioned, seven were residential and two were commercial properties.
According to the Chandigarh Housing Board, the successful bidders now are required to make 25% payment by March 15 to avoid forfeiture of their earnest money deposit and from being blacklisted from future tendering processes. Details of successful bidders have been uploaded on http://www.chbonline.in
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