Few takers for Chandigarh Housing Board leasehold properties

Chandigarh, September 6

The Chandigarh Housing Board (CHB) has again failed to attract buyers for its leasehold commercial properties. The board could sell only three of the 99 units put on auction.

The CHB had invited e-bids for the sale of 99 commercial units on a leasehold basis, 53 residential properties on a freehold basis and two commercial properties on a freehold basis on August 10.

When the bids were opened today, the CHB was able to sell 19 leasehold residential units out of 53, one commercial unit out of two on a freehold basis and only three commercial units out of 99 on a leasehold basis.

Yashpal Garg, Chief Executive Officer, CHB, said the board earned Rs 12 crore from the sale of 19 residential units against the reserve price of Rs 11.14 crore, while one commercial unit on a freehold basis was sold for Rs 80.51 lakh against the reserve price of Rs 80 lakh and three commercial units on a leasehold basis were auctioned for Rs 1.26 crore against the reserve price of Rs 1.21 crore.

He said the CHB had earned total revenue of Rs 14.11 crore from the auction of 23 properties against the reserve price of Rs 13.16 crore.

Garg said from April 2021 to this date, the CHB sold 210 units, including 141 residential units on a freehold basis, 16 residential units on a leasehold basis, 44 commercial units on a leasehold basis and nine commercial units on a freehold basis, and received a total bid amount of Rs 140.21 crore.

In June, the CHB had invited e-bids for the sale of 27 residential and four commercial units on a freehold basis. When the bids were opened, the CHB was able to sell only four residential and two commercial units. At an auction held on May 25, the CHB could sell only two residential units out of 29 and two commercial units out of six for which bids were invited.

Lukewarm response to freehold units

The CHB had invited e-bids for the sale of 99 commercial units on a leasehold basis, 53 residential properties on a freehold basis and two commercial properties on a freehold basis on August 10. When the bids were opened, the CHB was able to sell 19 leasehold residential units out of 53, one commercial unit out of two on a freehold basis and only three commercial units out of 99 on a leasehold basis.