Chandigarh administrator gives approval for auction of property on freehold basis

Chandigarh, February 10

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After getting approval from UT Administrator Banwarilal Purohit, the UT Administration will now be able to auction its unsold commercial and industrial properties and nursing home sites on a freehold basis.

At present, residential properties are auctioned on a freehold basis, whereas commercial, industrial and nursing home sites are auctioned on a leasehold basis. After approval from the Administrator, the UT has allowed the e-auction of residential, commercial, industrial and nursing home sites as per provisions of the Capital of Punjab (Development and Regulation) Act, 1952, and the Chandigarh Estate Rules, 2007, as amended from time to time.

As per provisions of the said Act and Rules, sites/buildings in Chandigarh shall be sold by way of an auction or allotment, either on a freehold basis or a leasehold basis.

Nearly all unsold and vacant commercial, industrial and nursing home sites with different departments such as the Estate Office, the MC and the CHB are leasehold properties and the departments have failed to attract buyers for the leasehold properties.

Welcoming the decision, JD Gupta, chairman, and Kamaljit Singh Panchhi, president, Property Federation, Chandigarh, said it was a long-pending demand and they were happy with the decision. —

• Also read: Unable to find buyers, Chandigarh Administration to convert properties to freehold