Housing board to auction 137 properties from today

CHB CEO Yashpal Garg said the reserve price of commercial properties have been slashed by 10 per cent and they are hoping to get a good response this time.

The auction will end on March 7 (Express Photo)

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After slashing the reserve price of commercial properties by 10 per cent, the Chandigarh Housing Board will auction as many as 137 residential and commercial properties from February 8. It was after the board failed to get a response for its commercial properties on leasehold basis that the rates were slashed. The auction will end on March 7.

While 45 residential units on freehold basis will go under the hammer, there would be 92 commercial units that are available on leasehold basis.

The previous auction, held on January 24, received a lukewarm response as there were only nine takers out of a total 140. For the 91 commercial properties on leasehold basis, the board found only two buyers.

CHB CEO Yashpal Garg said the reserve price of commercial properties have been slashed by 10 per cent and they are hoping to get a good response this time.

“All willing participants may visit the official website of the CHB (www.chbonline.in) to understand the procedure. The terms and conditions and the tentative list can be downloaded from the website. To submit e-bids, a bidder is required to get registered at https://etenders.chd.nic.in. A valid e-mail id, phone number and digital signature are the basic requirements to participate in the e-tender process,” a statement said.

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