Chandigarh Housing Board invites bids for sale of 6 residential, 10 commercial units

The Chandigarh Housing Board (CHB) has started the process for the e-auction of 16 properties — six residential units on a freehold basis and 10 commercial units on a leasehold basis. The auction will be held on January 7 next year.

The prospective bidders may inspect the residential as well as the commercial units every Saturday from 10 am to 5 pm.

The process to submit EMD was started on Wednesday and will end on December 11 at 5 pm. The bidding for auction will start from December 12 at 9 am and conclude on January 7 at 4 pm.

All residential units are category IV flats located in Indira Colony, Manimajra, with a reserve price ranging from Rs 38.20 lakh to Rs 41.06 lakh. Of the 10 commercial properties, seven are located in Manimajra and three in Sector 40 A, with the reserve price ranging from Rs 42.99 lakh to Rs 85.50 lakh.

The units shall be allotted to the highest-eligible bidder, quoting above the reserve price of the unit. The GST will not be applicable on the consideration/premium of the unit in case of residential properties and built up commercial properties. However, In case of allotment on leasehold basis, GST will be applicable on lease money/ground rent payable annually.