2 BHK flat in Sector 51-A fetches CHB Rs 1.33 crore

Chandigarh, July 5

A two-bedroom flat of the Chandigarh Housing Board (CHB) was sold for a record Rs 1.33 crore during an auction held here today.

The CHB had last month invited e-bids for the sale of 40 residential units on a freehold basis and 88 commercial properties on a leasehold basis. It managed to sell eight residential units. However, there were no takers for the commercial units on a leasehold basis.

The CHB has earned a revenue of Rs 7.87 crore against the total reserve price of Rs 7.16 crore from the sale of the eight residential units on a freehold basis.

A two-bedroom flat in Sector 51-A went for Rs 1.33 crore against the reserve price of Rs 1.07 crore. Two more two-bedroom flats in the same sector fetched Rs 1.24 crore and Rs 1.21 crore, respectively, against the same reserve price. Of the total, six residential units put up for auction were located in Sector 51-A.

An EWS flat in Sector 52 was sold for Rs 24.41 lakh against its reserve price of Rs 24.37 lakh. A Category IV flat in Mani Majra was sold for Rs 53.41 lakh against the reserve price of Rs 53.36 lakh.

Yashpal Garg, Chief Executive Officer, CHB, said the board had earned Rs 7,87,52,444 from the sale of eight residential units. The remaining properties would be put up for auction again. The highest bidder would have to make 25% payment by July 12 to avoid forfeiture of the earnest money deposit and blacklisting from future tendering processes of the board, he added.

Having failed to attract buyers to its commercial as well as residential properties offered on a leasehold basis, the CHB had sought permission from the UT Administration to allow conversion of leasehold properties into freehold. It had written to the Secretary, Estates, in this respect in February. However, the CHB is yet to get a response.