Chandigarh Housing Board e-auction elicits poor response, yet again

Dushyant Singh Pundir

Tribune News Service

Chandigarh, December 27

The Chandigarh Housing Board (CHB) has again received a poor response to an e-auction held for its commercial as well as residential properties on a freehold and leasehold basis.

The CHB had invited e-tenders for the sale of residential units, both freehold and leasehold, and commercial units on a leasehold basis. The last date for submission of the e-bids was till 10 am today and the bids were opened from 10:15 am onwards.

Of the 113 commercial units, the CHB could sell only five units to the highest bidders. The total reserve price of the five commercial units was Rs1.94 crore, while the units were sold for Rs1.98 crore.

Similarly, of the 27 residential units on leasehold basis, only three units could be sold. The total reserve price of the three units was Rs1.31 crore, while the highest bids received against these units was Rs1.33 crore.

The CHB also received a lukewarm response to its residential properties on a freehold basis as it could sell six of the 19 units put up for the e-auction. The reserve price of the six units was Rs3.82 crore and the board fetched Rs3.93 crore from these.

An MIG flat in Sector 51 on a freehold basis was sold to the highest bidder for Rs96.01 lakh against the reserve price of Rs90 lakh, while the highest bid for a commercial unit on a leasehold basis in Sector 51-A was Rs54.01 lakh against the reserve price of Rs53.39 lakh. Similarly, an MIG flat in Sector 39 on a leasehold basis received the highest bid of Rs96.04 lakh against the reserve price of Rs94.86 lakh.

The CHB earned a total revenue of Rs7.26 crore from the auction of six residential units on a freehold basis, three residential and five commercial units on a leasehold basis. The total reserve price of these units was Rs7.08 crore.

It may be mentioned that in an e-auction held on September 1, the CHB could sell two out of 149 commercial units on leasehold basis, two out of 33 residential units on leasehold basis and eight of the 34 residential units on freehold basis to the highest bidders.

Earlier on August 10, the CHB had received a total of five e-bids against 151 commercial units and could sell only three units to the highest bidders. Similarly, 15 e-bids were received against 38 residential units and only five units could be sold to the highest bidders.

Join Whatsapp Channel of The Tribune for latest updates.