Chandigarh, November 9
The Chandigarh Housing Board (CHB) has earned a revenue of Rs 7.62 crore against the total reserve price of Rs 6.81 crore from the sale of 13 units —10 residential ones on a freehold basis and three commercial properties on a leasehold basis.
The CHB had last month invited e-bids for the sale of 58 residential units on a freehold basis and 95 commercial properties on a leasehold basis. However, it managed to sell 10 residential units and only three commercial properties — two in Mani Majra and one in Sector 38 (W) — during the e-auction held today.
The CHB sold 10 residential units for Rs 6.72 crore against the total reserve price of Rs 5.92 crore and three commercial units for Rs 89.39 lakh against the reserve price of Rs 89.18 lakh.
A three-bedroom flat in Sector 63 went for Rs 1.36 crore against the reserve price of Rs 1.07 crore. Similarly, a two-bedroom flat in Sector 63 went for Rs 95.56 lakh, against the reserve price of Rs 72.56 lakh. Another two-bedroom flat in Sector 63 went for Rs 81.56 lakh against the reserve price of Rs 72.56 lakh. Most of the residential units put up for auction were located in Sectors 63 and 26-E.
Yashpal Garg, Chief Executive Officer, CHB, said they had earned Rs 7.62-crore revenue. The remaining properties would be put up for auction again. The highest bidder would have to make Rs 25% payment by October 18 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 to freehold.
The CHB has to spend a huge amount on the upkeep of unsold units. More than 100 commercial properties are lying vacant with the CHB, some were constructed nearly 40 years ago. If the properties are converted to freehold, it would attract buyers and generate revenue for the CHB.
The Tribune News Service brings you the latest news, analysis and insights from the region, India and around the world. Follow the Tribune News Service for a wide-ranging coverage of events as they unfold, with perspective and clarity.
Join Whatsapp Channel of The Tribune for latest updates.
Most Read In 24 Hours
Don't Miss
View All
Top News
Supreme Court seeks clarification from EC on functioning of EVMs, summons senior poll panel official
Deputy Election Commissioner Nitesh Vyas had earlier given p...
Former Jharkhand CM Hemant Soren moves Supreme Court, says High Court not pronouncing verdict on his plea against arrest
Soren was arrested by ED in a money-laundering case on Janua...
Denied Lok Sabha ticket from Ludhiana, AAP leader Jassi Khangura quits AAP
AAP chose Ashok Pappi Prashar, sitting MLA, to be its candid...
Encounter breaks out between security forces and terrorists in Jammu and Kashmir’s Bandipora; helicopters deployed for aerial surveillance
There is no report of any casualty so far
