Chandigarh, November 23
Not many people are coming for the e-auction of the Chandigarh Housing Board. An independent HIG flat in Sector 38 West was sold for Rs 50,000 more than the reserve price of Rs 2 crore today.
Sources said slump in the real estate market was one of the reasons for the low response to the auction. The CHB is e-auctioning vacant houses against the reserve prices fixed according to their respective collector rates.
The board is carrying out the process of e-auction of both commercial and residential and leasehold and freehold properties.
A CHB official said the e-auction process for the remaining properties has been extended to December 7, allowing more time to general public to place bids for various properties. — TNS
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