No takers for 88 leasehold commercial units of Chandigarh Housing Board

Tribune News Service

Dushyant Singh Pundir

Chandigarh, November 16

The Chandigarh Housing Board (CHB) has again failed to find buyers for its 88 leasehold commercial properties put up for auction.

On October 19, the CHB invited e-bids for the sale of 28 residential units on a freehold basis and 88 commercial properties on a leasehold basis. The bids were opened today and the board could sell only three residential units.

The three units fetched Rs 80.12 lakh against the total reserve price of Rs 79.12 lakh. An EWS flat in Sector 38- West was auctioned for Rs 27.41 lakh against the reserve price of Rs 27.08 lakh, while category IV flat at Indira Colony at Mani Majra was sold for Rs 26.50 lakh against the reserve price of Rs 26.01 lakh. Similarly, another flat at Indira Colony went for Rs 26.21 lakh against the reserve price of Rs 26.01 lakh.

During the previous auction held on July 5, the CHB managed to sell eight residential units on freehold basis, but there were no takers for 88 commercial units on a leasehold basis. The CHB had earned a revenue of Rs 7.87 crore against the total reserve price of Rs 7.16 crore from the sale of the eight residential units on a freehold basis.

The CHB had managed to sell two out of 35 residential units on a freehold basis and did not receive even a single bid for 88 commercial properties on a leasehold basis on May 31. The two units fetched Rs 1.26 crore against the total reserve price of Rs 1.23 crore.

During the auction held on April 25, the CHB had managed to sell only four of 38 residential units on a freehold basis and two of 90 commercial units on a leasehold basis. The four freehold residential units had fetched Rs 3.16 crore against the total reserve price of Rs 3.06 crore. Similarly, the CHB had earned a revenue of Rs 68 lakh with the sale of two commercial units on a leasehold basis against the reserve price of Rs 63.86 lakh. In total, the board had earned Rs 3.84 crore from the sale of six units, against the reserve price of Rs 3.70 crore.

In the March 7 auction, the CHB had sold only eight of 44 residential units on a freehold basis and two of 92 commercial units on a leasehold basis despite reducing the reserve prices of commercial units by 10 per cent. The eight freehold residential units had fetched Rs 4.26 crore against the total reserve price of Rs 4.11 crore. Similarly, the CHB had earned a revenue of Rs 93.02 lakh with the sale of two commercial units against the reserve price of Rs 86 lakh. In total, the board had earned Rs 5.19 crore from the sale of 10 units against the reserve price of Rs 4.97 crore.

In another auction held in February, the CHB had disposed of only nine units, out of 140 commercial and residential units put up for auction.

In January, seven residential and two commercial units could be sold.

From April 2021 to December 2022, the board had sold 275 units, including 200 residential and 10 commercial on a freehold basis, and 16 residential and 49 commercial units on a leasehold basis, netting Rs 185.33 crore.

Rs 80.12 lakh in board kitty

The three units fetched Rs 80.12 lakh against the total reserve price of Rs 79.12 lakh. An EWS flat in Sector 38- West was auctioned for Rs 27.41 lakh against the reserve price of Rs 27.08 lakh, while category IV flat at Indira Colony at Mani Majra was sold for Rs 26.50 lakh against the reserve price of Rs 26.01 lakh. Similarly, another flat at Indira Colony went for Rs 26.21 lakh against the reserve price of Rs 26.01 lakh.

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