Chandigarh Housing Board reduces reserve price of corner units by over 50%

Dushyant Singh Pundir

Tribune News Service

Chandigarh, September 10

After slashing the reserve price of commercial units on a leasehold basis by 20 per cent, the Chandigarh Housing Board (CHB) has further reduced the reserve price of corner shops with both-side verandahs.

Corner shop with both-side verandahs

The reserve price of at least 14 commercial units put up for sale on a leasehold basis has been reduced by Rs40 lakh to Rs60 lakh, which is more than 50 per cent of the previous reserve price because of a change in the computation method of the corner shop with both-side verandahs. — Yashpal Garg, CEO, Chandigarh Housing Board

e-tenders invited

Yashpal Garg, Chief Executive Officer, Chandigarh Housing Board, said e-tenders were invited for the sale of 132 commercial and 31 residential units on a leasehold basis and 28 residential units on a freehold basis.

After getting lukewarm response to its leasehold properties, the Board of Directors of the CHB had on Wednesday decided to reduce the reserve price of commercial units by 20 per cent and residential units by 10 per cent in comparison to the previous e-auctions to attract buyers. However, the reserve price of residential units on a freehold basis will remain the same as were in the previous e-tender.

“The reserve price of corner units, which are having verandah on two sides, has been further reduced because of a change in methodology for computation,” said Yashpal Garg, Chief Executive Officer, CHB.

After decreasing the reserve prices of commercial and residential properties on a leasehold basis, the CHB has invited e-bids for the sale of its 191 vacant units.

The Chief Executive Officer said e-tenders were invited for the sale of 132 commercial and 31 residential units on a leasehold basis and 28 residential units on a freehold basis.

“The reserve price of at least 14 commercial units put up for sale on a leasehold basis has been reduced by Rs40 lakh to Rs60 lakh, which is more than 50 per cent of the previous reserve price because of a change in the computation method of the corner shop with both-side verandahs,” said Garg.

He said the buyers could submit e-bids from 10 am on September 15 to 10 am on October 8 and e-bids would be opened from 10.15 am onwards on October 8.

He said residential units on a freehold basis could be inspected from 10 am to 5 pm on every Saturday, residential units on a leasehold basis on every Wednesday and commercial units on a leasehold basis on every Friday.

Stickers have been pasted on each of the built-up unit for better identification and site offices have been provided at different sectors/location to facilitate inspection by prospective bidders. The location of each of the unit on Google map, address of the site offices and contact details of officials are available on the official website www.chbonline.in.

The e-tender process is open for all citizens of India as well as NRIs/PIOs above 18 years of age. Persons already having any property (residential or commercial) can also participate in the e-tender.

The built-up dwelling units would be allotted to the highest eligible bidder, quoting above the reserve price of the unit. The GST would not be applicable on the consideration/premium of the unit. However, in case of allotment on a leasehold basis, the GST would be applicable on lease money/ground rent payable annually, he said.

All willing participants may visit the website of the CHB, www.chbonline.in, to understand the detailed procedure for submission of earnest money deposit (EMD) and e-bids.

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