CHB Auction: Housing board fixes reserve price of Rs 80K per square yard for 13 sites in IT park
It was last year when the CHB got back the land from Parsvnath Developers. In October 2006, the board had decided to develop this site with the Parsvnath developers.
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File photo of Parsvnath project at IT park in Chandigarh.
THE CHANDIGARH Housing Board has fixed a reserve price of Rs 80,000 per square yard for the sites it has to auction at the Rajiv Gandhi Chandigarh Technology Park. This implies that a two-acre site would cost Rs 77 crore while a four-acre site would cost Rs 154 crore.
There are a total of 13 sites which would be auctioned for housing colonies at 123 acres of land under Habitat Project. The auction would take place by the end of this month. Although there are 15 sites, of these 13 would be auctioned to builders or developers while on the other two sites, CHB will be constructing 600 flats.
Confirming the development, chairman of the Chandigarh Housing Board Maninder Singh said, “The reserve price would be Rs 80,000 per square yard on the basis of collector rate of te area. Our drawing plans are ready. In fact, certain technical things were required which would be completed soon. We would auction by the last week of this month.”
It was last year when the CHB got back the land from Parsvnath Developers. In October 2006, the board had decided to develop this site with the Parsvnath developers. However, the project could not be started. Later in 2016, CHB took the land back after paying over Rs 560 crore. Now, in this project, the 123 acres would be used not only for a housing colony but there would be a five-star hotel, gymnasium, swimming pool, club, community centre and marriage palace as well.
The board is also planning to construct studio apartments for employees working in the IT sector, hotels, office space besides selling up to 10 acres to builders through e-auction, building institutions like Delhi’s India Habitat Centre, India International Centre, old age homes and a financial hub just like the Bandra-Kurla complex in Mumbai. For the builders, it would be mandatory to have a swimming pool and gymnasium at each site. The area will be earmarked for hospital, school and fire station as well at each site. There is also a provision for a club, which will have a community centre, a five-star hotel and a marriage palace that will be developed by CHB. see also page 3
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