Reserve price of 10 booths in Dhanas cut by Rs 16L each

After two failed attempts to auction 10 booths on a leasehold basis in Dhanas, the UT Estate Office has reduced their reserve price by Rs 16 lakh each to attract bidders.

The Estate Office will conduct a fresh auction of the booths from July 15 to 17 with the reserve price of each booth decreased from Rs 90 lakh to Rs 74 lakh. The department aims to earn a revenue of nearly Rs 8 crore from the auction.

To strengthen private health infrastructure in the city, the Estate Office has also decided to auction two nursing home sites in Sectors 46 and 51. The bids for both the sites could be submitted from July 26 to 28. The Estate Office has fixed

The reserve price of a 555.55 square yard site in Sector 46 has been fixed at Rs 13.62 crore, while it is Rs 18.72 crore for a 763.33 square yard site in Sector 51. Since the one in Sector 46 is a corner site, bidders would have to pay 5% more for it.

Commercial properties in the city are being sold by the Estate Office on a lease for 99 years after the Ministry of Home Affairs rejected the demand to convert the leasehold properties into freehold last year. On the other hand, properties in Panchkula and Mohali are being sold on a freehold basis. Nearly 40 shops under the overbridge in Sector 17 have been lying vacant for the past 12 years as these are not freehold units.