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Saturday, September 25, 2021

Chandigarh Housing Board gets lukewarm response in e-auction of leasehold units

Only two out of 149 commercial leasehold properties and two out of 33 residential leasehold properties of the CH board could be auctioned.

Written by Hina Rohtaki | Chandigarh |
September 2, 2021 6:15:38 am
CHB, CHB properties, chandigarh, indian express, indian express news, Punjab news, current affairsBeing leasehold, not many people showed interest in the properties of the board. (Representational)

The Chandigarh Housing Board (CHB) got a lukewarm response in its e-auction of leasehold commercial and residential units here.

Only two out of 149 commercial leasehold properties and two out of 33 residential leasehold properties of the CH board could be auctioned. Being leasehold, not many people showed interest in these properties of the board.

The auction of freehold residential properties was still better with eight out 34 being sold. A middle income group dwelling unit in Sector 51 fetched Rs 92.2 lakh in an auction of the Chandigarh Housing Board.

The CHB had invited e-bids for sale of its built-up residential units (free-hold & leasehold) and built-up commercial units (leasehold). The last date for submission of e-bids was September 1, that is Wednesday, till 10.00 am and these were opened from 10.15 am onwards, according to the schedule.

The CHB had conducted e-tendering for sale of 34 of its residential properties on freehold, 33 residential properties on leasehold and 149 properties on leasehold basis, the financial bid of which was opened on Wednesday. In this the board has been successful in selling 12 of its properties.

The highest bid was MIG of Sector 52 which was Rs 92.25 lakh for the flat, while its reserve price was Rs 90 lakh.

The board received revenue of Rs 6.81 crore against the total reserve price of Rs 6.66 crore.

These properties of the board are built in Sector-49, 51, 63, 44 and Manimajra. The highest bidder will have to deposit 25 per cent of the amount by September 8.

The Chandigarh Housing Board had made it clear that a person living in any state of the country above the age of 18 can participate in the process of e-tendering. Moreover, NRIs can also bid to buy a house. Now the remaining properties from the board will also be e-tendered.
In the leasehold properties, people are not showing much interest because ground rent has to be paid on this. This is the reason why the board got more response for freehold properties only.

The Chandigarh Housing Board has been able to sell 118 properties in the last five months. The housing body officials say that the earnest money should be deposited in the bank in the e-auction.

Since the financial bids were opened on Wednesday (September 1, 2021), the highest bidder is required to make the payment by coming Wednesday, September 8, 2021, positively to avoid forfeiture of EMD and blacklisting from future tendering processes of the Chandigarh Housing Board.

During last five months, the Chandigarh Housing Board could sell 118 built-up units and got the bid amount of Rs. 88.23 crores.

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